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New Era Newspaper - 16/06/2017 - Vol22 No216

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18 Inside BUSINESS

18 Inside BUSINESS Friday, June 16 2017 | NEW ERA Seminar discusses growth prospects for economy Staff Reporter Windhoek Last week RMB Namibia, which is a division of FNB Namibia, hosted its Global Markets Seminar under the theme Namibian Commodities in the Face of Global Change. Isaah Mhlanga, an economist from RMB SA and Namene Kalili, senior economist at FNB Holdings, provided the audience with an economic overview themed, Navigating through the Noise, Economic Overview. Ettienne van Wyk, head of commodities trading at RMB South Africa, provided a presentation on Structural Changes in Commodities. The event also hosted a panel discussion themed; ‘Growth prospects for Namibia as a commodity based economy’ with Daniel Motinga as the moderator. Topics that were discussed were the global economic impact on local commodities (and growth potential), beneficiation of commodities and which commodities have real opportunities for this, balancing local ownership and large multi-nationals that bring investment. Also discussed were the opportunities for growth through commodities in terms of where the gaps are currently and what people are not aware of. Financial institutions assisting with the mitigation of risks and enabling the opportunities for the commodities sector were also a key talking point. The panellists included Markus Lubbe: acting CEO of NamDeb Diamond Corporation, Lauren Davidson: economist at the Chamber of Mines of Namibia, Steve Galloway: retired geologist and investment banker, Ettienne van Wyk and Isaah Mhlanga. Neville Ntema, Corporate forex dealer at RMB Global Markets, said: “In the greater scheme of things, commodities, raw or partially processed often are the most significant export and revenue earners of developing countries and the revenue generated from these exports have a pivotal effect in those economies. Taking Namibia’s NDP series into consideration, we believe that all parties who are part of the application and implementation of the NDPs need to come together to workshop around the potential solutions, which will lead to profitability and sustainability of both the economy and our respective businesses. Of course, with the world fast becoming a global village, Africa, let alone Namibia can no longer ignore the evolution of global commodity Photo: Contributed Namene Kalili, senior economist at FNB Holdings, during the RMB Global Markets Seminar prices, demand and supply factors.” “Global growth continues to hold up in both the US and Europe while China is stable. Monetary policy remains accommodative although the US continues to gradually tighten policy. Commodity prices have marginally recovered and have supported commodity exporting emerging market countries’ growth prospects and external accounts. Within this supportive global environment, bond inflows have continued into emerging markets and South Africa has also benefited. However, on the growth front South Africa has entered into a technical recession during 1Q17 with all sectors contracting except for agriculture and mining. The prospects for the next two years will be intricately linked to the resolution of political and policy uncertainty which should lift business and consumer confidence. Meanwhile, we forecast inflation to fall to 5.7% and 5.3% in 2017 and 2018, respectively, however, we do not expect interest rate cuts this year due to concerns of credit rating downgrades and the possible resultant currency weakness,” said Isaah Mhlanga, RMB SA Global Markets economist. “The way forward for the commodity producers is: Innovation for commodity producers, to reduce costs and enhance returns. Beneficiation will raise the country’s competitiveness profile. In line with the NDP series, mining is a stepping stone to kick-start other business streams for the economy, as a form of downstream business when the miners start to add value to the resources they are mining. Thus far Namibia has dropped in ranking, from an investment destination point of view. However, acknowledging that mining is an anchor industry for FDI, beneficiation will potentially move the country up in the ranking of foreign direct investment destination,” Ntema concluded. Money Market Change Latest 3 months 0.00% 7.32% 6 months 0.00% 7.84% 9 months 0.00% 7.98% 12 months -0.01% 8.15% Bonds Change Latest GC17 (R203 : 7.37%) 0.00% 8.04% GC18 (R204 : 7.34%) 0.01% 8.25% GC21 (R208 : 7.49%) -0.02% 8.31% GC24 (R186 : 8.39%) -0.04% 9.61% GC27 (R186 : 8.39%) -0.04% 10.00% GC30 (R2030 : 8.93%) -0.01% 10.60% GC32 (R213 : 9.01%) -0.01% 10.72% GC35 (R209 : 9.33%) 0.00% 10.76% MARKET OVERVIEW Commodities %Change Latest Gold 0.87% $ 1,277.52 Platinum 1.87% $ 943.78 Copper 0.00% $ 5,717.00 Brent Crude -1.86% $ 46.50 Main Indices %Change Latest NSX (Delayed) 0.59% 1029.15 JSE All Share -0.14% 51,553.15 SP500 0.45% 2,440.35 FTSE 100 0.14% 7,511.30 Hangseng 0.09% 25,875.90 DAX 0.59% 12,840.40 JSE Sectors %Change Latest Financials 0.44% 14,566.20 Resources -1.01% 29,983.51 Industrials -0.13% 69,953.29 Forex %Change Latest N$/US dollar -0.95% 12.6434 N$/Pound -0.81% 16.1468 N$/Euro -0.34% 14.2598 US dollar/ Euro 0.59% 1.1277 Namibia Monthly Data Latest Previous Namibia Inflation (Apr 17) 6.7 7.1 Bank Prime 10.75 10.75 BoN Repo Rate 7.00 7.00 130 125 120 115 110 105 100 12/31/2013 The investment performance of N0 in the STEFi Index from 31 December 2013 to yesterday 3/31/2014 6/30/2014 9/30/2014 12/31/2014 3/31/2015 6/30/2015 9/30/2015 12/31/2015 3/31/2016 6/30/2016 9/30/2016 12/31/2016 3/31/2017 14-Jun-17 NOTICE Take notice that PLAN AFRICA CONSULTING CC, Town and Regional Planners on behalf of the owner intends applying to the Municipality of Windhoek for the: REZONING OF ERF 4208 WINDHOEK, NO. 03 SAUERBRUCH STREET FROM RESIDENTIAL WITH A DENSITY OF 1:900m² TO GENERAL RESIDENTIAL WITH A DENSITY OF 1:150m². CONSENT TO START WITH CONSTRUCTION WHILE REZONING IS IN PROCESS. Erf 4208 is 1342m 2 in extent. The proposed zoning will enable the owner to erect 8 dwelling units on the respective erf Further take notice that the plan of the erf lies for inspection on the town planning notice board in the customer care Centre, Main municipal offices, Rev. Michael Scott Street, Windhoek. Further take notice that any person objecting to the proposed use of the land as set out above may lodge such objection together with the grounds thereof, with the Windhoek Municipality and with Applicant in writing within 14 days of the last publication of this notice (final date for objections 7 JULY 2017) Plan Africa Consulting CC Town and Regional Planners P.O.Box 4114 WINDHOEK Tel (061) 212096 Fax (061) 213051 / 088614626

Friday, 16 June 2017 entertainment entertainment NOW! Mark leaves audience craving more Page: 21 Comedy Classy ‘The Avenue’ hosts comic Courage Popular comic, Courage Condo, who has provided Namibians many bouts of laughter with his hilarious jokes over the past few years, is set to make a comeback on the local comic circuit. Continues on page 2

New Era

New Era Newspaper Vol 22 No 167