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New Era Newspaper Thursday April 5, 2018

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Thursday, April 5 2018 | NEW ERA Inside BUSINESS 10 Taxes were main source of 2017 government revenue WINDHOEK Taxes were the main source of general government revenue in 2017, accounting for 57,5 per cent, the Preliminary Annual National Accounts report for 2017 shows. The report released by the Namibia Statistics Agency last week states that income generated for general government in 2017 was N.4 billion in 2017, compared to N.4 billion in 2016. The positive performance was attributed to an increase in the current transfers and taxes on income and wealth that recorded 10,4 per cent and 7,3 per cent, respectively. According to the report, general government comprises central and local government and statutory bodies. Taxes were followed by Southern African Customs Union (SACU) receipts with 31,2 per cent. Other sources of income included property income and other current transfers from the rest of the world that contributed 11.3 per cent to government income. Taxes on production and imports, as well as property income receivable recorded marginal increases of 4,3 per cent and 5,5 per cent respectively. The total expenditure for general government increased by 2 per cent in 2017, compared to the strong growth of 11,5 per cent in 2016. A decline was furthermore recorded in the capital formation of general government investment with N.2 billion in 2017 from N.8 billion in 2016. Taxes on income and wealth were the highest contributor to general government revenue with N.7 billion; followed by current transfers from the rest of the world and SACU with N.8 billion and N.2 billion, respectively. Household taxes contributed N.4 billion of the general government revenue while the lowest contribution came from interest receivable of N4 million. - NAMPA Tuesday, 3 April 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Gobabis Town (NG Church Hall) 13:00-18:00 Van Eck Power Station 10:00-15:00 Walvis Bay Town (Behind Welwitschia Medi-park) 13:00-18:00 Wednesday, 4 April 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Vocational Training Centre (Gobabis) 09:00-15:00 Medi-Clinic 09:00-14:30 Ramos Realtors Namibia (Walvis Bay) 09:00-16:00 Thursday, 5 April 2018 Centre Tal Street 07:00-18:00 United House Centre 08:30-16:00 Transworld Cargo (caravan) 13:00-16:00 Namibia University of Science & Technology (Main Campus) 09:00-16:00 Elgin Brown & Hamer (Walvis Bay) 10:00-15:00 Friday, 6 April 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Grant Thornton Namibia (Sanlam Building Arcade) 09:00-14:30 Namibia University of Science & Technology (Lower Campus) 09:00-16:00 Abenteuer Africa (Swakopmund) 10:00-15:00 Sponsored by: Mostafa AlGuezeri Digitalisation is driving change in the region Mostafa AlGuezeri Digitalisation, decentralised resources and energy grid in the way it is operated, developed and used by customers. These trends are blurring traditional boundaries across sectors (mobility, ICT, urban planning and infrastructure) and across the electricity value chain. The World Economic Forum (WEF) has customers and broader society. I was part of the panel at WEF in Jordan to discuss these changes and how we can capitalize on this new energy revolution to build smarter, more connected cities. According to the International Renewable Energy Agency (IRENA), GCC electricity consumption is expected to reach 856 terawatthours by 2020, requiring 100 GW of additional power over the next 10 years to meet the demand. To close the gap will require huge levels of investment in projects that provide additional of our energy use. In the region, it gives us the opportunity to create solutions for highly our energy needs locally and connect to a growing world market in energy technology. Renewables have formed an important part in the GCC governments’ strategies to diversify the domestic energy mix with the region’s consumption anticipated to continue growing at a fast pace over the next two decades. Reports suggest also extensive job creation with this industry. of electric vehicles and renewables in certain of E-mobility fast chargers in Jordan. However, this growth in distributed energy sources presents a number of challenges in terms of energy stability and grid management. Left unmanaged, new loads can dramatically increase load on the system at certain times of the day and cause circuit breakers or fuses to trip with resulting outages. The traditional response would be to resize substations or strengthen distribution lines and equipment. Grid automation can be used to defer some of these upgrades. Meeting future power demands and preserving the integrity of the electrical grid while concurrently curtailing and even shutting “There are 600 million who people lack access to electricity. Only seven countries in sub-Saharan Africa – Cameroon, Côte D’Ivoire, Gabon, Ghana, Namibia, Senegal and South Africa – have electricity access rates exceeding 50 percent.” planning. ABB’s FACTS (Flexible Alternating vehicles and data centres. Africa – Challenges, Way Ahead 600 million people lack access to electricity. Only seven countries in sub-Saharan Africa – Cameroon, Côte D’Ivoire, Gabon, Ghana, Namibia, Senegal and South Africa – have electricity access rates exceeding 50 percent (McKinsey & Company report). Until recently, solving Africa’s power challenge would have taken decades and required massive investment in fossil-fuel generation and grid connections. With the Energy Revolution, new technologies can bring reliable, sustainable power within reach of both urban and rural communities within a much shorter timeframe. On the generation side, automation and control technologies are making possible fossil fuel production, as well as dramatically reducing harmful emissions. Another game changer in energy is distributed energy resources such as hybrid and renewables-powered microgrids, which are ideal for off-grid rural communities as well as urban installations where they can support grid stability. The Energy Revolution is accelerating the expansion of access to electricity, improving people’s lives and empowering the next generation. The internet is changing the face opening up new opportunities to those who can deploy technology most innovatively and effectively. At ABB, we are already engaged in many of the state-of-the-art projects across the region where we help utilities bring clean and reliable power to the cities through our smart and connected products and technologies. – Utilities Me. Mostafa AlGuezeri is the managing director of ABB operations in the United Arab Emirates

Thursday, April 5 2018 | NEW ERA Inside BUSINESS 11 Ongwediva gets new open market ONGWEDIVA The Ongwediva Town Council has established an open market called Wilbard Haindongo for vendors in and around the town’s Oshiko suburb. Ongwediva Town Council spokesperson, Jackson Muma told Nampa on Tuesday the council and the Local Economic Development Agency in the Ministry of Urban and Rural Development jointly funded the construction of the N.dollars 766 000 market. It currently has 20 vending spaces for sellers of kapana, fruits, vegetables, traditional beverages and health products. Muma pointed out that the establishment of the facility is aimed at accommodating vendors in a well organised space and to move them from unauthorised sites. “The Ongwediva Town Council has once again made a mark in the area of local economic development by opening the doors of the Wilbard Haindongo Open Market situated at Oshiko near the Ongwediva Police Roadblock,” he said. Although the only three vendors the market on Tuesday expressed disappointment that the market is not strategically located, Muma said its location is as per the vendors’ choice. “We like the open market, is a hidden place and not easily accessible by everybody,” said the vendors, adding that it has attracted only a few customers during the past two weeks they have been in operation. The facility is made up of a shade structure, braai area and ablution block and is surrounded by a security fence. It is guarded by 24-hour security personnel. The construction of the market started in 2015 and ended last year. - Nampa BRUSSELS Europe’s economic recovery is gaining pace, with eurozone unemployment at its lowest level Wednesday. The EU’s official statistics agency said that the jobless rate in the single currency area fell to 8.5 percent in February, down from 8.6 percent in January. eurozone jumped to 1.4 percent in March, a leap from February’s 1.1 percent. European Central Bank’s (ECB) Eurozone unemployment falls, strengthening recovery target although it is still a way off the desired 2.0 percent. The data are in line with other recent statistics that suggest the European economy is growing at a solid pace after years of weak recovery following the debt crisis. The steady decline in joblessness comes on the back of three years of massive support from the ECB to help the 19-country single currency zone survive the eurozone debt crisis. The ECB has bought more than two trillion euros (.46 trillion) worth of bonds during that time, helping trigger growth but its 2.0 percent goal. in the eurozone recovery, the ECB last month dropped a long-standing pledge that it stood ready to ratchet up bond-buying again if needed -- taking a small step towards the stimulus exit door. the central bank’s 2.0 percent target, which may give ECB head Mario Draghi second thoughts about turning the stimulus off completely this year. Unemployment remained high in Greece at 20.8 percent in December, the last month for which percent, and Italy at 10.9 percent. German unemployment remained super-low at 3.5 percent in February, with the Netherlands dropping to 4.1 percent. At the worst of the debt crisis in 2013, eurozone unemployment reached a record 12.1 percent. Since then, the economic situation has slowly improved, but unemployment remains much higher than the average rate before the crisis, when it was 7.5 percent. Economic growth in the 19-country eurozone hit 2.3 percent in 2017, the highest level in a decade. - Nampa / Afp NOTICE Take note that Ritta Khiba Planning Consultants (Town and Regional Planners and Environmental Management Consultants) on behalf of the registered owner of Erf 1560, Khomasdal, intends to apply to the Windhoek Municipal Council for: REZONING OF ERF 1560, KHOMASDAL FROM “INSTITUTIONAL” TO “GENERAL RESIDENTIAL”WITH A DENSITY OF 1:100; CONSENT TO COMMENCE WITH THE CONSTRUCTION OF HOUSING UNITS WHILE THE REZONING IS IN PROCESS. Erf 1560 is located in Agnes Street in Khomasdal and measures 2304m² in extent. The Erf is currently zoned “Institutional”. It is the intention of the owner to rezone Erf 1560, Khomasdal from “Institutional” to “General Residential” with a with a density of 1:100 The proposed rezoning will enable the owner to construct housing units on the property; therefore they are not expected to have any negative impacts to the surrounding area nor the urban character. accordance with the Windhoek Town Planning Scheme. Further take notice that the locality plan of the Erf lies for inspection on the town planning notice board during working hours at the Windhoek Avenue, Windhoek and Ritta Khiba Planning Consultants Park, Windhoek. Further take notice that any person objecting to the proposed change in land use as set out above may lodge such objections together with the grounds thereof with the Town Council and with the applicant in writing 14 days after the Ritta Khiba Planning Consultants P. O Box 22543 Windhoek Email: Cell: +264 85 3232 230 MARKET OVERVIEW Money Market Change Latest Selected NSX Stock 3 months 0.01% 6.89% Symbol Stock Name Spot % Move 6 months -0.01% 7.38% CGP CAPRICORN INVESTMENT GROUP L 1784 0.00% 9 months -0.01% 7.53% NBS NAMIBIA BREWERIES LTD 4500 0.00% 12 months 0.02% 7.78% BVN BIDVEST NAMIBIA LTD 780 0.00% Bonds Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4640 -0.11% GC18 (R204 : 6.73%) 0.04% 7.64% ORY ORYX PROPERTIES LTD 2039 0.00% GC21 (R208 : 7.11%) 0.08% 7.93% NAM NAMIBIAN ASSET MANAGEMENT LT 67 0.00% GC24 (R186 : 8.08%) 0.07% 9.30% NHL NICTUS NAMIBIA 180 0.00% GC27 (R186 : 8.08%) 0.07% 9.69% BMN BANNERMAN RESOURCES LTD 35 0.00% GC30 (R2030 : 8.47%) 0.07% 10.14% DYL DEEP YELLOW LTD 218 2.35% GC32 (R213 : 8.55%) 0.07% 10.26% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 8.83%) 0.08% 10.26% FSY FORSYS METALS CORP 106 6.00% GC37 (R2033 : 8.65%) 0.07% 10.65% TUC TRUSTCO GROUP HOLDINGS LTD 875 0.00% Commodities %Change Latest B2G B2GOLD CORP 3247 -1.40% Gold 1.05% $ 1,346.73 Platinum -0.43% $ 921.39 Copper 0.00% $ 6,796.00 Brent Crude -1.40% $ 67.02 Main Indices %Change Latest NSX (Delayed) -3.60% 1306.76 JSE All Share -2.34% 53,578.33 SP500 1.26% 2,614.45 FTSE 100 -0.47% 6,997.36 Hangseng -2.19% 29,518.69 DAX -1.15% 11,865.02 JSE Sectors %Change Latest Financials -3.20% 16,721.67 Resources -2.09% 33,470.78 Industrials -2.18% 69,549.81 Forex %Change Latest N$/US dollar 0.85% 11.9214 N$/Pound 0.59% 16.7183 N$/Euro 0.89% 14.6351 US dollar/ Euro 0.05% 1.2276 Namibia Monthly Data Latest Previous Namibia Inflation (Feb 18) 3.5 3.6 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75 4-Apr-18

New Era

New Era Newspaper Vol 22 No 167