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New Era Newspaper Thursday December 21, 2017

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8 ADVERT Thursday, December 21 2017 | NEW ERA You can now buy prepaid electricity for these towns around the country: Keetmanshoop Okahandja Aranos Gochas Leonardville Gibeon Gobabis Mariental Omeya estate Auas view Osona village Kalkrand Stampriet Groot Aub Ariamsvlei Noordoewer Grunau Seeis Dordabis Giving more Namibians easy access to prepaid electricity Now more people across Namibia can purchase prepaid electricity via FNB’s self-service channels Buy prepaid electricity via: Online Banking Cellphone Banking FNB App eWallet FNB ATMs www.fnbnamibia.com.na

NEW ERA NAMAs spend 80% of budget on local suppliers Page 11 Social media, wireless threats to dominate 2018 - Airbus Page 12 INSIDE BUSINESS This news is your business The year 2017 in review Edgar Brandt Windhoek After an extremely tough year the Namibian economy is limping out of recession, even as the global economy contin- third quarter of 2017. The Namibia that the domestic economy indeed contracted by 1.9 percent in the third quarter of 2017, compared to a decline of 0.4 percent registered in the corresponding quarter of 2016. The poor performance of the domestic economy is mainly attributed to construction, the wholesale and retail trade, and the electricity, water and tion in real value during the third quarter. Activity in the construction sector continued to contract, primarily due to the slowdown in government construction works. Real turnover in the wholesale and retail trade sector continued to decline, displaying weak activity in all subsectors. Third quarter statistics also recorded witnessed during the same quarter of the preceding year. This resulted in cent, mainly attributable to a decline in exports. On a more positive note, activity in the mining, manufacturing and agricultural sectors increased during decelerated further, mainly driven by the lower prices of food and non-alcoholic beverages, as well as As the New Era newspaper prepares to close down for the festive season, we take a look at some of the top stories we covered on the business and economics front this year: JANUARY NWR’s Okaukuejo generates N0 million In what can be described as a major milestone in the life of the biggest and oldest resort within the Etosha National Park, Namibia Wildlife Resorts (NWR) Okaukuejo gener- - to an overall revenue increase of 16 percent compared to the previous credited to the popularity of the resort, which has an annual average waterhole, which receives exceedingly regular visits from a wide diversity of wildlife. This includes herds of antelope, family groups of elephant, some black rhinos, as well as the ‘king of the jungle’ himself. Average house prices up 13 percent to N0K, even as volumes still decline At the end of the third quarter of 2016 the average house price was pegged prices last year. According to the latest FNB Housing Index, covering the third quarter of 2016, the highest median prices recorded emanated from Henties Bay, Swakopmund and Windhoek, Windhoek. However, the 12-month cumulative growth in volumes remains negative at -20 percent, posing downside risks to overall market demand, which continues to soften. Prospective homeowners’ prospects remain daunting as they wrestle with a rising interest rate cycle, while wage growth remains low, as companies try to contain costs within a constrained economic backdrop. FEBRUARY targets to be met ary framework, improving revenue management, moving over to a semiautonomous revenue agency and effectively managing expenditure ministry has set itself for the cur- Schlettwein addressed these targets in Windhoek. “In the area of economic policy, regional and international partnerships, framework is indispensable to anchor which I intend tabling in early Advisor and the Directorate of EPAS to coordinate the activities of the and accompanying policy packages for the budget,” said Schlettwein. Renewable energy answer to multifaceted energy needs For a geographically large and low population density country like Namibia it is not practical to connect everyone through the national grid in a time-bound manner. Therefore, the country needs to make serious efforts towards off-grid generation facilities, and renewable energy might offer an excellent solution for off-grid connectivity. Namibia’s imports exceeded exports electricity is one of the country’s major imports. electricity within the country severely hampers domestic economic activity and value addition, while the energy imports expose Namibia to high electricity prices and currency rate MARCH Calle expected to toe the MTEF line and increase revenue wein tables the National Budget for analysts expect him to remain steadfast in commitments made towards policies to make up for the shortfall in government revenue. It is also expected that Schlettwein will put in place measures to restore economic ment spending. Epangelo to pay back N billion with dividends from Husab stake mining company, says it will pay to acquire a 10 percent stake in the dividends it receives from the Husab mining operation. Husab mine in the Erongo Region cake (uranium oxide) at the end of December 2016 and is set to reach full production this year. Once in full operation, Husab will be the largest open-pit uranium mine in the world. ment period depends on the revenue generated, which in turn is a function of the uranium price and quantity of uranium produced at Husab. APRIL There won’t be knee-jerk reaction to RSA downgrade The much talked about downgrading of the South African economy to a rank below investment grade, means a lot to pension fund managers, not - pensioners’ funds. - cautiously optimistic, saying in as much as the new developments are a cause for discomfort the Fund would not have a knee-jerk reaction to the downgrade, but would assess the situation as it develops. At present, Nuyoma says, the situ- term player [and] we do not react overnight. We have to watch and think long-term, otherwise you move [and] you end up jumping into the NaCC ends marketing agreement between Sanlam and PPS - an application for exemption from the Professional Provident Society Professional Provident Society (PPS) all brokers and agents that meet the desirable criteria with respect to experience and training should now be allowed to offer PPS products to their clients. The applicants had sought to be exempted in respect of a marketing agreement, dated September 12, 2011 which regulates, inter alia, the development, sale and distribution of a particular suite of life, disability and dread disease products, issued and administered by Sanlam on behalf of PPS Namibia, and white-labelled as a PPS Namibia product. MAY GIPF’s N billion Capricorn deal approved investor in Namibia, will fork out percent interest in the issued ordi- corn shares and the deal will now go through after it has met with all necessary regulatory approval. percent from Namibia Strategic gotiated total consideration in excess - shareholder. Entrepreneurship could curb Namibia’s 60% dependency ratio Over half of Namibia’s population working population is increasingly responsible to cover expenditure for themselves and their dependants. it was found that the rising number

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New Era Newspaper Vol 22 No 167

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