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New Era Newspaper Friday July 7 2017

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New Era Newspaper Friday July 7

Vol. 22 No. 231 Windhoek, Namibia Friday, July 7 2017 Government pumps N.5 billion into economy Inside Today Four learners perish in horrific accident Four learners from Malengalenga Combined School in Judea Lyabboloma Constituency died in a road accident late on Wednesday afternoon when the vehicle they were travelling in overturned. Page 3 Brave Warriors lay ambush for Bafana With just a few hours left before Namibia’s Brave Warriors confront hosts South Africa in the final of the Cosafa Castle Cup Plate competition today at the Moruleng Stadium in Rustenburg (16h00), coach Ricardo Mannetti and his charges have already unleashed their war chest and are vying for the South Africans’ jugular. Page 40 oide Jason ngwediva bout 75 learners at Haudano enior Secondary School at kalongo circuit in the Omusati egion were suspended from the ostel for bad behaviour that left teacher nursing an injury after e was knifed. The disciplinary commitee at Haudano suspended the earners from the school hostel or unruly behaviour earlier this eek. According to chairperson f the school board Enos Haufiku, here was a school tournament Desie Heita Windhoek Treasury yesterday revealed plans to release more than N,5 billion into the Namibian economy in the coming months, through payment of outstanding invoices, in hope of easing the financial squeeze being experienced in the country. By announcing this, government also reaffirms finance minister Calle Schlettwein’s recent announcement in parliament that the country’s finances remain in the doldrums, hence failure to honour all debt with suppliers of services to government. The money to settle the invoices would come from the N billion SME Bank hangs by fingernails Desie Heita Windhoek The fate of the SME Bank was essentially sealed yesterday, with the main shareholder – the Namibian government - announcing that winding up operations was the best option as opposed to injecting an additional N9 million into an institution that is allegedly damaged beyond repair by mismanagement. With this bold declaration by government, which is the majority owner, the bank’s continued existence now hangs by a thread after the Bank of Namibia (BoN) in the area where some learners were reported to have consumed alcohol. “In the evening, there was an entertainment event at school. This is where the incident with a teacher occurred. He was stabbed by an outsider that was with the learners,” said the school board chair. Haufiku said the teacher was loan secured through the African Development Bank (AfDB). The money is already in the government’s bank accounts, Schlettwein told journalists yesterday. A team has been gathered at the finance ministry, with people pooled from other ministries, to pay attention to the outstanding invoices that they are paid in the next coming weeks. Schlettwein acknowledged that the reason the consumption spending in the country took a knock is because of a drastic slow down in public spending, which account for 60 percent of the economy. “The budget cuts are for sure the main reason,” he said although he also blamed the private sector for adopting a wait and see attitude, withholding investments had initially sought closure of the bank through courts. Treasury yesterday threw its weight behind the reserve bank’s decision to apply for the certificate to wound-up the entity from the Master of the High Court. “We believe it would be irresponsible to use taxpayers money to compensate for money that was irregularly taken out of the country. We are aware of the job losses [but] we have an economy that is under pressure, a failure by the [SME] bank would further weaken the economy,” says finance minister Calle Schlettwein, adding that government 75 learners suspended from hostel after stabbing incident trying to restore order in the hall and some people – who were believed to be under the influence of alcohol – resisted his orders and stabbed him with a knife. He said this was not the first time learners had been suspended by the school. “Last year we suspended about 70 learners who also misbehaved in school. That is a school rule and spending to see what comes out of the turn. He was however confident that the new release of money into the economy – through the payment of invoices – would “see some sign of [consumption] growth returning to the economy.” The N,5 billion spending would be on outstanding invoices that various ministries have not paid to suppliers, in addition to the N,7 billion that government has budgeted to settle outstanding invoices. The N,7 billion payments include N5 million paid to the public servants medical aid, the Public Service Employees Medical Aid Scheme (PSEMAS), BoN governor Ipumbi Shiimi has over the four years been injecting millions of dollars into SME with no better results. SME on page 2 that was approved by parents,” he explained. Haufiku said he could not recall the details of each case, but said some of the learners were found with cellphones, some were drunk, and some had gone out of school boundaries without authorisation from the hostel superintendent. HOSTEL on page 2 PUMPS on page 2 SPYL factions square off in court Roland Routh Windhoek Finance minister Calle Schlettwein The High Court battle between two disconcerted members of the Swapo Party Youth League (SPYL) national executive committee (NEC) against a decision taken by the league’s central committee lasted into the late afternoon hours yesterday with the legal eagles of the opposing parties firing salvos at each other. High Court Judge Shafima Uitele spent the whole morning and part of the afternoon listening to arguments by the two NEC members Immanuel Nashinge and Sioni Iikela on why the court should overturn, and set aside, the decision taken by the central committee of the youth League on May 13 to nominate Mandela Kapere for the position of secretary of the SPYL. Nashinge and Iikela are represented in the matter by Nixon Marcus on instructions of Khadila Amoomo, while the nine respondents, including the SPYL, its acting secretary Veikko Nekundi, Kapere and the ruling party Swapo are represented by Advocate Vas Soni SC from South Africa, assisted by Gilroy Kasper on instructions from Meroro, Kurtz and Kasper law firm. SPYL on page 2 New Era Newspaper @NewEraNewspaper #NewEraNewspaper • •

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