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New Era Newspaper Monday February 5, 2018

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10 Inside BUSINESS

10 Inside BUSINESS Monday, February 5 2018 | NEW ERA !Gawaxab joins FNB as senior IT operations manager Staff Reporter Windhoek !Gawaxab as its new senior IT the University of South Africa - in courses offered by the Stellenbosch Business School. She also later appointed as the IT opera- venture into business and ran her struction and consultancy and further worked for an aviation In her new role, !Gawaxab will be responsible for the IT ciencies and the convergence of technologies. erations resilient while ensuring service provider with a respon- business. I believe in fairness towards the organisation as well as the group in neutralizing everyday challenges such as regulatory tition, digitalization and disruption,” says !Gawaxab. Fuel prices remain unchanged as fuel tax increases Staff Reporter Windhoek The Ministry of Mines and Energy unchanged at N.70 per litre for 95 octane unleaded petrol, N.73 and N.78 per litre for However, in order to generate additional rev- the Ministry of Finance has increased the tax on fuel. The Ministry of Mines and Energy has, therefore, decided to increase the c/l to 40 c/l on all the price regulated fuel products. The effective date for ary 7. However, fuel prices will be reduced by 15 c/l in the ready reckoners in order to offset the fuel tax increase and keep the According to a state- ergy Minister Obeth Kandjoze, the Organization ing Countries (OPEC) barrels per day (bpd) in January, up 100,000 bpd Kandjoze noted that despite the increase in production, adherence by producers, which is included in the deal to curb supply, rose to 138 - is not wavering even as crude oil prices hit their high- with Russia and other non- OPEC producers. The pact “The international oil OPEC producers boosting on rallying prices or to replace a decline in Venezuela, where - Obeth Kandjoze has boosted crude oil prices, which topped US a barrel during the third week of Janu- have expressed concern that it could encourage U.S. shale producers,” said Kandjoze. In January, the biggest Top exporter Saudi Arabia boosted output by 50,000 bpd. Output in Libya edged higher by 30,000 bpd. The country had been shut in by a blockade Both Nigeria and Libya cutting supply because output was curbed already by both countries told OPEC that output would not exceed er output, the largest drop was of its crude, in a slight decline retook control of oilfields This has had the side-effect with the OPEC deal. Production in Venezuela, where the oil industry is starved of funds because of a cash crunch, has fallen further. - taking into account changes of “The results of the latest fuel price review indicate that the average free on board prices per barrel has increased for ULP 95 and for both diesel grades. Barrel prices for re- of US.084 for ULP95, “The basic fuel price unit rate slate calculations for and under-recoveries on the products. The over and underrecoveries recorded are not prices,” Kandjoze explained. The average exchange over the period reviewed. The dollar against the US dollar has kept the balance between We are looking for a computer and mobile technitian that has 3 years experience Please do send your CV Contact Details: 0813721905 Golden Maggy Primary School VACANCY Teaching Posts English Grades 4-7 Mathematics Grades 4-7 Enquiries: Due date: Our client, a Manganese Mining Company, situated in the Hochfeld area, offers the following MINING MAINTENANCE SPECIALIST Job vacancies Skills Required: Min. 5 years mechanical working experience on heavy mining machinery PLANT MAINTENANCE MANAGER (Fabricator / Boilermaker) Skills Required: Visit our website for more details: PUBLIC PARTICIPATION NOTICE ENVIRONMENTAL IMPACT ASSESSMENT FOR THE CONSTRUCTION AND OPERATIONS OF A FUEL RETAIL FACILITY IN KATIMA MULILO Petrosol Petroleum Solutions CC has requested Geo Pollution Technologies (Pty) Ltd to undertake an Environmental Impact Assessment (EIA) for the construction and operations of a fuel retail facility on a portion of erf 567, Mpacha Road, Katima Mulilo. The EIA for the construction and operational activities of the facility will be according to the Environmental Management Act of 2007, and its regulations as published in 2012, in order to apply for an Environmental Clearance Certificate. It will supply diesel from two aboveground storage tanks, of 83 m 3 each. Fuel will be supplied in a forecourt area with two pump islands, covered by a canopy. Construction activities will include installation of storage tanks, pumps, reticulation, spill control infrastructure, and all related buildings and services. Operations will involve the receipt of diesel from road tankers, its sale to retail customers, and related activities. All Interested and Affected Parties are invited to register with the environmental consultant. Additional information can be requested from Geo Pollution Technologies. The project location can be viewed at All comments and concerns must be submitted to Geo Pollution Technologies by 12 February 2018. André Faul Geo Pollution Technologies (Pty) Ltd Telephone: +264-61-257411 Fax: +264-88626368 E-Mail:

Monday, February 5 2018 | NEW ERA SA aviation authority grounds 12 CemAir aircraft JOHANNES- BURG The South African Civil Aviation Authority (SACAA) on Friday announced the with- cates of Airworthiness Privileges for 12 CemAir aircraft. SACAA said it temporarily with- of Airworthiness (CoA) privileges for 12 aircraft being operated by CemAir, adding that the suspension became effective at 6am on Friday. “This withdrawal of the Certificate of Airworthiness privileges is precautionary and temporary; meaning that it will automatically expire after 24 hours at 5am on Saturday. The decision to withdraw CoA privileges follows the discovery during an audit by SACAA inspectors that some of the aircraft that were serviced at CemAir’s Aircraft Maintenance Organisation (AMO) were released back to service or cleared as airworthy by un- This is in contravention of Part 43 and Part 121 of the South African Civil Aviation Regulations,” SACAA said. “This practice poses an imminent danger for crew members, passengers, and the public at large, and has a direct impact on aviation safety, since the airworthiness status of the aircraft concerned and/or is questionable. The operator is required to submit proof of compliance before the expiry of the prescribed 24 hours or to make a representation and state reasons as to why the relevant aircraft should not be grounded in line with the prescripts outlined in the Civil Aviation Act, 2009 (Act No. 13 of 2009).” SACAA said it had received full cooperation from CemAir and would continue to provide any assistance possible to the operator, and within the Regulator’s mandate, in order to ensure that the matter is “resolved as soon as possible”. CemAir Ltd is a privately owned airline operating in South Africa and services popular tourist destinations, business towns and leases aircraft to other airlines across Africa and the Middle East. The airline was found in 2002 and is based in Johannesburg. ACAA said they were aware of the disruptions and said the decision was not taken lightly. “As much as the SACAA is fully aware of the effect and disruptions of the suspension on passengers, it is equally important to note that decisions such as these are not taken lightly and are, in fact, in the interests of ensuring that the operator’s safety systems are beyond reproach, and can offer an acceptable level of safety,” it said. “When safety systems are beyond reproach, the passengers and everyone concerned can get some form of assurance that the operator’s aircraft can take-off and land at the intended destination relatively safely and incident-free. “The SACAA will always remain committed to meeting its obligations of keeping the skies safe. Unsafe operations have the potential of undermining South Africa’s admirable zero percent accident fatality record in the airline and scheduled operations sector, which has been standing for many years.” - NAMPA/ANA CAPE TOWN The Directorate for Priority Crime I n v e s t i g a t i o n (Hawks) must do everything within their power to investigate and prosecute the politically connected Gupta family’s proceeds implicating them in a suspicious R70 million tax payout from the South African Revenue Service (SARS) last year, the Democratic Alliance said. The DA noted the move by the Hawks and the SARS arresting nine suspects linked to a VAT scam that had cost the economy R90 million, DA spokesman Zakhele Mbhele said. “We are encouraged by this move and hopeful that more similar arrests will take place soon. The Hawks must do everything that is within their power in order to investigate and prosecute with equal diligence the Gupta proceeds, implicating them in a suspicious R70 million tax payout from SARS last year,” he said. This included obtaining the necessary court orders to gain access to information with SARS. The DA urged Police Minister Fikile Mbalula to ensure that the Hawks had all the necessary support that they needed in this regard. “SARS paid this money into the bank account of Oakbay Investments. Normally, payouts are only paid into the account of the taxpayer and not into the account of the third party or proxy. This was after South Africa’s major banks closed Gupta-linked accounts. MARKET OVERVIEW Inside BUSINESS Hawks must prioritise probe into Guptas’ R70 million tax refund, says DA sonal involvement by SARS commissioner Tom Moyane in intervening and securing the payment into the Gupta account far from regular. SARS cannot be used to advance certain agendas for politicians and those who are politically connected, such as the Gupta family,” Mbhele said. The extent of corruption and state capture by the Guptas had collapsed institutions and state-owned-enterprises, which had adversely Eskom’s application for PPAs approved PRETORIA South Africa’s Public Enterprises Minister Lynne Brown has approved power utility Eskom’s application to purchase additional renewable energy from independent power producers, the department announced on Friday. “The conclusion of the Power Purchase Agreements (PPAs) to enable the implementation of the outstanding projects under bid windows 3.5, 4 and 4.5 of the Renewable Energy Independent Power Producers Programme (REIPPP) is critical to implementation of Change Latest 3 months 0.00% 7.13% 6 months 0.01% 7.59% CGP CAPRICORN INVESTMENT GROUP L 1807 0.06% 9 months 0.01% 7.73% NBS NAMIBIA BREWERIES LTD 4000 0.00% 12 months 0.00% 7.96% BVN BIDVEST NAMIBIA LTD 785 0.00% Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4658 0.00% GC18 (R204 : 7.05%) 0.03% 7.96% ORY ORYX PROPERTIES LTD 2060 0.00% GC21 (R208 : 7.34%) 0.03% 8.16% NAM NAMIBIAN ASSET MANAGEMENT LT 68 0.00% GC24 (R186 : 8.47%) 0.04% 9.69% NHL NICTUS NAMIBIA 189 0.00% GC27 (R186 : 8.47%) 0.04% 10.08% BMN BANNERMAN RESOURCES LTD 44 -4.35% GC30 (R2030 : 8.97%) 0.04% 10.64% DYL DEEP YELLOW LTD 247 -0.40% GC32 (R213 : 9.06%) 0.04% 10.77% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.35%) 0.03% 10.78% FSY FORSYS METALS CORP 111 0.00% GC37 (R2033 : 9.18%) 0.04% 11.18% TUC TRUSTCO GROUP HOLDINGS LTD 900 0.00% %Change Latest B2G B2GOLD CORP 3653 1.75% Gold -0.32% $ 1,344.47 Platinum -0.80% $ 999.66 Copper 0.00% $ 7,119.00 Brent Crude -0.32% $ 69.60 %Change Latest NSX (Delayed) -0.08% 1363.36 JSE All Share -1.01% 58,661.57 SP500 -0.06% 2,821.98 FTSE 100 -0.25% 7,471.51 Hangseng -0.12% 32,601.78 DAX -1.20% 12,847.69 %Change Latest Financials -1.38% 17,293.54 Resources -0.06% 37,623.54 Industrials -1.39% 77,445.60 %Change Latest N$/US dollar 0.91% 11.9662 N$/Pound 0.62% 17.0117 N$/Euro 0.72% 14.9386 US dollar/ Euro -0.22% 1.2483 Latest Previous Namibia Inflation (Dec 17) 5.2 5.2 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75 11 impacted on the country’s economy and jobs. “That is why the Guptas must fully account for every cent that they have unduly benefitted by stealing the fruits of the hard labour of innocent South Africans. Mbalula must show decisive leadership and offer both the Hawks and SARS all the necessary support needed to establish and expedite the investigation into R70 million Gupta tax refund,” Mbhele said. - NAMPA/ANA the national energy policy as articulated in the Integrated Resource Plan of 2010,” said Brown in a statement. In January, Eskom submitted an application to Brown, under Section 54 of the Public Finances Management Act, to purchase the additional energy. Brown approved that application on Friday. “South Africans have reason to feel very proud of the progress the country has made adding renewable energy to the energy mix. There are risks to tional stability in the medium term, among others, that must be mitigated. . - NAMPA/ANA

New Era

New Era Newspaper Vol 22 No 167