3 weeks ago

New Era Newspaper Friday April 27, 2018

  • Text
  • Namibia
  • Supermarkets
  • Windhoek
  • April
  • Bonmilk
  • Namibian
  • Leisure
  • Marine
  • African
  • Ministry


Friday, April 27 2018 NEW ERA 32 Inside BUSINESS Youth ministry’s Minister of Sport, Youth and National Service, Erastus Uutoni budget cut upsets entrepreneurial initiatives •Jeremiah Ndjoze WINDHOEK – The budget cut for the Ministry of Sport, Youth and National Service from N9,524,000 to N8,287,000, which represents a reduction of about 33 percent, has been described as “drastic” and a negative manoeuvre against the ongoing quest for youth entrepreneurial development. During his budget motivation of vote 27 at the National Assembly, Minister of Sport, Youth and National Service, Erastus Uutoni, revealed that the budget cut may impact negatively on his ministry’s developmental initiatives such as the National Youth Council’s (NYC) MARKET OVERVIEW Credit For Youth in Business (CYB) programme, which last year facilitated the process of securing bank loans to the value of N0,000 to 32 youth businesses. “The NYC further assisted with the realization of the #Eseb Bakery Youth Project in the Erongo Region, which employs about seven young people,” Uutoni said. The CYB, under the auspices of the National Youth Council of Namibia (NYC), is an initiative that has been purposefully established to assist young entrepreneurs who lack access to credit due to lack of adequate bankrequired collateral. NYC recognizes the weakness of programmes that provide credit as a standalone support package and is thus committed to facilitate the provision of other complementary SME support services, New Era has learned. The programme targets youths aged between 18 and 35 who are already involved in business activities with particular emphasis on those enterprises that are residing in rural and semiurban areas. It further focusses on graduates from the Commonwealth Youth Credit Initiative (CYCI). Still on youth development, the minister further revealed that 30 young leaders were empowered and groomed during the 2017/18 fiscal year through the Youth Leadership Development Programme (YLDP) offered under a tripartite agreement between the ministry, NYC and Friedrich Ebert Stiftung. “The budget cuts negatively affected youth development programmes, so much that the regional outreach programmes came to a standstill. Similarly, the training programme offered at the National Youth Service halted, to the extent that the Office of the President had to intervene, and subsequently, the bailing out by the Namibia Training Authority (NTA),” Uutoni added. The minister further revealed that, for the financial year 2018/19, the ministry is planning to establish and commission 70 constituency rural youth enterprises in all 14 regions, in response to the targets set in the Harambee Prosperity Plan (HPP) of establishing 121 rural youth enterprises. “At this point, I would like to inform the house that this is in addition to the six that are already established,” Uutoni revealed. Money Market Change Latest Selected NSX Stock 3 months 0.00% 6.90% Symbol Stock Name Spot % Move 6 months 0.00% 7.38% CGP CAPRICORN INVESTMENT GROUP L 1747 0.00% 9 months 0.00% 7.51% NBS NAMIBIA BREWERIES LTD 4500 0.00% 12 months -0.01% 7.78% BVN BIDVEST NAMIBIA LTD 780 0.00% Bonds Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4615 0.00% GC18 (R204 : 6.76%) -0.05% 7.67% ORY ORYX PROPERTIES LTD 2036 0.00% GC21 (R208 : 7.31%) -0.08% 8.13% NAM NAMIBIAN ASSET MANAGEMENT LT 67 0.00% GC24 (R186 : 8.2%) -0.08% 10.00% NHL NICTUS NAMIBIA 180 0.00% GC27 (R186 : 8.2%) -0.08% 10.10% BMN BANNERMAN RESOURCES LTD 38 -7.32% GC30 (R2030 : 8.6%) -0.08% 10.20% DYL DEEP YELLOW LTD 238 -4.03% GC32 (R213 : 8.68%) -0.08% 10.39% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 8.95%) -0.08% 10.38% FSY FORSYS METALS CORP 101 0.00% GC37 (R2033 : 8.78%) -0.08% 10.78% TUC TRUSTCO GROUP HOLDINGS LTD 850 0.00% Commodities %Change Latest B2G B2GOLD CORP 3499 -0.43% Gold -0.01% $ 1,322.94 Platinum -0.26% $ 908.71 Copper 0.00% $ 7,008.00 Brent Crude 1.12% $ 74.29 Main Indices %Change Latest NSX (Delayed) 0.09% 1374.12 JSE All Share 0.50% 57,273.15 SP500 0.18% 2,639.40 FTSE 100 0.09% 7,386.29 Hangseng -1.06% 30,007.68 DAX 0.19% 12,446.22 JSE Sectors %Change Latest Financials 1.16% 17,550.43 Resources 0.23% 37,559.61 Industrials 0.34% 74,168.73 Forex %Change Latest N$/US dollar -0.34% 12.3974 N$/Pound -0.07% 17.3194 N$/Euro -0.29% 15.0867 US dollar/ Euro 0.06% 1.2168 Namibia Monthly Data Latest Previous Namibia Inflation (Mar 18) 3.5 3.5 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75 26-Apr-18 Mining industry employed nearly 17,000 in 2017 •Windhoek Nearly 17,000 people were employed by the mining sector in 2017, Chamber of Mines of Namibia Chief Executive Officer Veston Malango said on Wednesday. Speaking at the 2018 Mining Expo, he said of the 16,905 people employed in the sector 9,643 were permanently employed, 889 temporarily employed and 6,373 were contractors. Of the 9,643 permanent employees, 340 were expatriates. “Over the years the industry has directly and indirectly provided jobs to 118,335 people, which represents 17.5 percent of the total Namibian labour force,” said Malango. He emphasised that through the mine operations and mine developing companies the industry’s Pay As You Earn (PAYE) amounted to N3 million in 2017. The wages and salaries of the employees amounted to over N,6 billion the same year. Malango further noted that the outlook for commodity prices is extremely positive, which will drive Namibian exploration for years to come. – Nampa MUNICIPALITY OF SWAKOPMUND APPLICATIONS FOR EXEMPTION FROM PAYMENT OF ASSESSMENT RATES Notice is hereby given in terms of the provisions of Section 75 (1) of the Local Authorities Act, Act 23 of 1992, as amended, that applications are invited from institutions or organisations for the exemption from payment of assessment rates. Application Forms: Application forms can be obtained from Ms E Nakale, Room BO-21, Property Section, on c/o Rakotoka Street & Daniel Kamho Avenue, Swakopmund, Namibia; or can be downloaded from www.swkmun. Closing Date for Submission: Completed application forms must be returned to Ms Enakale at Room BO-21, Property Section, on c/o Rakotoka Street & Daniel Kamho Avenue, Swakopmund, Namibia, on / before Thursday 31 May 2018 not later than 16:30. No late applications will be considered in terms of the Local Authorities Act. Enquiries can be directed to Ms E Nakale 064-4104217. NOTICE NO 9/2018 Mr M P C Swarts ACTING CHIEF EXECUTIVE OFFICER

Friday, April 27 2018 NEW ERA ADVERTORIAL 33 AIRWAVES Weekly NBC REACHES OUT TO MISS NAMIBIA 2018 BEAUTY PAGEANT - at a local hotel in the Windhoek. isers, on 8 th - - st rd th th nd th th - PRESENTERS, DESIGNERS & MAKEUP ARTISTS COME OUT TO PLAY TONIGHT AT THE NAMIBIAN ANNUAL MUSIC AWARDS NAMA 2018 Presenters - Mavis Elias This Entertainment Presenter, El-Shaddai, Whatagwan Paul Munanjala Tutaleni, Tanyaradzwa Daringo Esperance actress, Odile Gertze NAMA 2018 Hannah Nangula-Kolokwe scene, Suoma Ndapandula Katshuna - Touched by Suoma the Namibian NAMA 2018 Designers - Wilma Kawedi Simeone Johannes Donald Diergaardt Catherine Tshikesho. NBC WELLNESS DAY MITIGATES WINTER BLUES - - - - - - TV CENTER - RADIO CENTER - SALES - TV LICENSING - Tel: (061) 291 3393/4/5, (061) 291 3677, DTT CALL CENTER - PUBLIC RELATIONS - Tel: (061) 291 3352 / 3350,

New Era

New Era Newspaper Vol 22 No 167