8 months ago

New Era Newspaper Monday August 14, 2017

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  • Namibia
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  • Windhoek
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10 Inside BUSINESS

10 Inside BUSINESS Monday, August 14 2017 | NEW ERA Staff Reporter Windhoek During the third quarter of 2016 the Communications Regulatory Authority of Namibia (CRAN) embarked on the coverage for roll out obligations for broadband and telecommunication services around the country through various interventions. These interventions include imposing additional obligations on licensees applying for additional 3G spectrum allocation, to accelerate coverage to under and unserved areas in the country and to improve the quality of service, in order to meet the objectives of the Harambee Prosperity Plan and Ministerial targets set therein. CRAN further implemented Infrastructure Sharing Regulations which were published during October 2016, which set out to create CRAN interventions to expand network coverage a framework for all licensees to share passive infrastructure, such as tower space and wireless and fiber transmission networks and active infrastructure, such as central databases and platforms. According to CRAN CEO Festus Mbandeka, enforcement of these regulations will make provision for sharing of infrastructure between licensees on a non-discriminatory basis, ensure that cost are reasonable and lower the barrier of entry to the market for new entrants; “The Authority is actively involved and contributing during the final consultative process in the development and finalisation of Namibia’s broadband policy which will serve to consolidate actions implemented to meet all broadband service targets set out in the policy itself, at SADC level and the Harambee Prosperity Plan,” Mbandeka said during CRAN’s most recent stakeholder event at the end of July. During November 2016 CRAN commenced with the enforcement of ‘Type Approval’ regulations after allowing the industry a grace period of 22 months to adhere to the regulations published in January 2015. Mbandeka explained that these regulations ensure the importation of telecommunications equipment to meet international standards and aims to curb the influx of outdated, counterfeit and grey products into the market. “CRAN is also extremely proud of the fact that based on the ITU ICT tracker for regulators, CRAN has been rated 82nd out of 189 countries worldwide and placed 10th in Africa and 4th in SADC according to ITU’s collection of data up to 2015” Mbandeka said. CRAN recently launched an interactive portal allowing licensees to submit data online. This data includes all the information as required in terms of the regulations setting out Cost Accounting Procedures and Reporting Requirements. CRAN aims to use this portal to allow licensees to submit all information online. The portal has also been expanded to allow licensees to submit tariff applications online as well as their annual reports and audited financial statements. The portal also includes a link for the public to compare tariffs for mobile packages according to their own needs and soon data packages would be added for the public to make informed choices. “CRAN is also cognisant of the fact that the presence of a stable and credible regulatory environment is pivotal not only from an investment perspective but, also for the efficient and effective operation of licensed entities and to the ultimate benefit of the consumer,” CRAN chairperson Frieda Kishi said at the stakeholder engagement. Agribank and NDC sign livestock financing MoU Staff Reporter Windhoek Agribank and the Namibia Development Corporation (NDC) signed a one year Memorandum of Understanding (MOU) on August 2, in terms of which Agribank will finance the purchasing of female breeding livestock by farmers in the Northern Communal Areas (NCA) from the NDC’s Kavango Cattle Ranch (KCR). To ensure wider benefit to farmers, the MOU provides that the number of cattle to be financed through this financing agreement will be limited to 15 head of cattle per client. The purchase price of the cattle shall be either 80 percent of the market value as per weight class, which value is based on the prices obtained at the Grootfontein auction in the immediately preceding month, or a fixed rate of N per kilogram, whichever is the higher. Financing will be subject to Agribank’s credit policy and upon approval final Photo: Contributed Planning ahead… Seated (from left) acting CEO of NDC Pieter de Wet and CEO of Agribank Sakaria Nghikembua. Standing (from left) NDC senior manager corporate services Wessel !Nanuseb; NDC corporate legal adviser Liezle du Plessis; Agribank’s General Manager Lending Shali Shindume and Agribank’s manager corporate legal services Stephanie de Klerk. tive that we develop ways and means to cater for this distinct segment of our market”, Nghikembua noted. Acting managing director of NDC Pieter de Wet echoed Nghikembua’s sentiments and reiterated that as development partners accountable to the same sole shareholder, this effort of leveraging synergies could not have come at a more opportune time when excellence is expected to take livestock selection will be done between NDC and the client. The ownership of the chosen livestock will pass on to the client and the animals will be released into the custody of the client. NDC will then issue the final invoice to Agribank for payment. Such payment will be made directly to the NDC. Speaking at the signing ceremony, Agribank chief executive officer Sakaria Nghikembua noted that the MOU is just one of many initiatives that the bank has taken to widen the access of communal farmers to financing. “As the agricultural bank, we have a duty to ensure inclusivity so that we can make a bigger developmental impact in our country. Extending financing to farmers in the NCA will no doubt improve their production output, as food security at a household level is one of the expected outcomes of the socio-economic development pillar of our strategic plan. It is therefore imperacentre stage in agricultural production. The NDC’s Kavango Cattle Ranch is located just above the Veterinary Line, with corridor status, and has been operating for more than 20 years focusing on beef production. “It is therefore only prudent that NDC participates in initiatives aimed at supporting communities in its areas of operation. Given the quality of animals produced at KCR, we are confident that sharing our top breeds with farmers in the NCA will go a long way in infusing quality genetic material in the northern regions”, de Wet stated. According to him, the partnership between Agribank and NDC gives real meaning to the empowerment of people at grassroots level. He said hitherto excluded sectors of the community will now be afforded an opportunity to enjoy ease of access to funding at affordable rates and to acquire quality breeding stock for improved agricultural output. Lease of Office space for the Environmental Investment Fund (EIF) The Environmental Investment Fund (EIF) is an investment fund, set up under the laws of Namibia, with the expressed purpose of raising financial resources for direct investment in environmental protection and natural resource management activities and projects that support the sustainable economic development of Namibia. The Fund is currently looking for new office space to lease. A Request for Proposals (RFP), with details on the office requirements and submission instructions is available for download at: Further queries regarding technical matters can be sent via email to: or Tel: +264 61 431 7704. CLOSING DATE: FRIDAY, 25 AUGUST 2017

11 INSIDE BUSINESS Monday, August 14 2017 | NEW ERA SA’s mining and manufacturing production declined in June Photo: Contributed Women’s world… FNB women were treated to a special breakfast talk in commemoration of Women’s Day on Wednesday. “Our people sustain our group and women make up more than 60 percent of our employees. And even though 9th August is celebrated in South Africa as Women’s Day, we saw it as a great opportunity to celebrate and thank FNB women for their valued contribution,” said Elzita Beukes, Group communications manager at FNB Namibia. The theme for the breakfast talk was based on the UN International theme of the year: #BeBoldForChange, and guest speaker Tanya Amey spoke about the exact moment when she took bold action to help improve or develop an aspect of her own livelihood, career and business. A California native, who relocated to Windhoek in 2011, Tanya Amey or “Lady T”, as she is affectionately known, shared three principles: be confident; take risks; and make a difference – weaving in witty and yet relatable anecdotes that engaged the women. JOHANNESBURG Manufacturing production declined by 2.3 percent while mining production decreased by 0.8 percent year-on-year in June compared with the same period last year, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the largest negative contributions to manufacturing were reported in petroleum, chemical products, rubber and plastic products and wood and wood products, paper, publishing and printing. Food and beverages, as well as basic iron and steel, non-ferrous metal products, metal products and machinery made the largest positive contributions to production. However, seasonally adjusted manufacturing production was flat in June compared with May. This followed month-on-month changes of -0.3 percent in May and 2.2 percent in April. Meanwhile, in the mining sector StatsSA said platinum group metals was the largest negative contributor, contributing -3.0 percentage points. Diamonds, on the other hand, was a significant positive contributor. Seasonally adjusted mining production decreased by 2.6 percent in June compared with May. This followed month-on-month changes of 0.1 percent in May and -2.0 percent in April. Mineral sales also decreased by 5.9 percent year-on-year in May. The largest negative contributors were platinum group metals, gold, and iron ore. Coal and chromium ore were significant positive contributors. Seasonally adjusted mineral sales at current prices increased by 1.4 percent in May compared with April. This followed month-on-month changes of -2.1 percent in April and 2.1 percent in March. – Nampa/ANA JSE companies in hot water over employment equity plans JOHANNESBURG The Department of Labour said on Thursday that its inspection and enforcement services branch had initiated a national director-general review to inspect 72 companies listed on the Johannesburg Stock Exchange (JSE) to ensure compliance with employment equity. The department said the initiative was part of achieving the department’s outcome to promote equity in the labour market. The review team started with the inspections last month and these will continue until December. The review involves a process of interrogating companies’ employment equity plans to assess whether the plans comply with legislation and was able to transform when put to test. Fikiswa Mncanca, the department’s chief director for statutory and advocacy services, said the programme started with a review of the JSE Securities Exchange, which the department found was wanting when its came to employment equity implementation. Mncanca said the review found that the JSE plan was not complying in terms of Section 20 (2) of the Employment Equity Act and recommendations were issued and the chief executive, Nicky Newton-King, and her team signed the recommendations and agreed to address the shortcomings. The JSE was given 60 days to comply. Mncanca said the department was also busy with employment equity workshops across the country while the inspections and review were in progress. “It is our responsibility to educate our stakeholders on the expectations, conduct inspections to check compliance and for those employers that are not willing to comply, refer them for prosecutions and enforcement compliance,” Mncanca said. Mncanca said that if a company did not have a plan, it would be subjected to a fine of R1.5 million and that those failing to report on employment equity plans would also be subjected to a R1.5 million penalty. – Nampa/ANA Money Market Change Latest 3 months 0.01% 7.33% 6 months -0.01% 7.81% 9 months 0.00% 7.98% 12 months 0.01% 8.18% Bonds Change Latest GC17 (R203 : 6.87%) 0.03% 7.54% GC18 (R204 : 7.13%) 0.04% 8.04% GC21 (R208 : 7.53%) 0.05% 8.35% GC24 (R186 : 8.62%) 0.06% 9.84% GC27 (R186 : 8.62%) 0.06% 10.23% GC30 (R2030 : 9.17%) 0.06% 10.84% GC32 (R213 : 9.27%) 0.06% 10.98% GC35 (R209 : 9.61%) 0.05% 11.04% MARKET OVERVIEW Commodities %Change Latest Gold -0.43% $ 1,243.95 Platinum -0.34% $ 917.83 Copper 0.00% $ 5,881.00 Brent Crude 0.62% $ 47.26 Main Indices %Change Latest NSX (Delayed) 0.58% 1018.22 JSE All Share -0.83% 51,170.34 SP500 0.88% 2,440.69 FTSE 100 -0.39% 7,359.31 Hangseng 1.10% 25,965.42 DAX -1.23% 12,491.38 JSE Sectors %Change Latest Financials -0.85% 14,429.68 Resources -0.05% 30,086.93 Industrials -1.32% 69,726.68 Forex %Change Latest N$/US dollar 0.43% 12.9909 N$/Pound 0.89% 16.8667 N$/Euro 0.76% 14.8310 US dollar/ Euro 0.33% 1.1416 Namibia Monthly Data Latest Previous Namibia Inflation (May 17) 6.3 6.7 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 10-Aug-17

New Era

New Era Newspaper Vol 22 No 167