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New Era Newspaper Thursday February 22, 2018

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8 NEWS Thursday, February 22 2018 | NEW ERA Body of fiveyear-old found in riverbed at Epupa WINDHOEK T Nampa Nuusita Ashipala Up there… The entrance to the Oshakati open market with the tower visible in the background. Oshakati’s observation tower still not operational ONDANGWA TOWN COUNCIL INVITATION FOR BIDS (IFB) 1. INVITATION FOR BID NO INVITATION FOR BID TITLE DESCRIPTION CLOSING DATE & TIME BID DOCUMENTS PRE-BID SITE MEETING BID ENQUERIES CLOSE LEVY (non-refundable) 2. INVITATION FOR BID NO INVITATION FOR BID TITLE DESCRIPTION CLOSING DATE & TIME BID DOCUMENTS PRE-BID SITE MEETING BID ENQUERIES CLOSE LEVY (non-refundable) ENQUIRIES DELIVERY ADDRESS: Sealed envelope clearly marked the IFB number should be delivered to: W/ONB/NDTC/032-04/2017/18 Construction of Municipal Services (Sewer Reticulation for Okangwena Area in Ondangwa Town. Bids are hereby invited through Open National Bidding (ONB) from experienced Civil Engineering Contractors for the Construction of Sewer Reticulation and Sewer Pump Station in Ondangwa Town. Monday, 19 March 2018 @ 11h00 Available as from 20th of February 2018 @ 10h00 at Ondangwa Town Monday, 28 February 2018 @ 11H00 Monday, 12 March 2018 @ 17H00 N$ 500.00 W/ONB/NDTC/032-03/2017/18 Construction of sewer network and lifting station at extension 6 in Ondangwa Town. Bids are invited through Open National Bidding (ONB) from experienced Civil engineering contractors for the construction of a sewer network and lifting station at Extension 6 in Ondangwa. Monday, 19 March 2018 @ 11h00 Available as from 20th of February 2018 @ 10h00 at Ondangwa Town Friday, 2 March 2018 @ 11H00 Monday, 12 March 2018 @ 17H00 N$ 500.00 Administration: Technical: Mr Bernard Mulala Mr Petrus Shipanga Tel: +264 65 240 101 Tel: +264 65 240 101 Fax: +264 65 240 453 Fax: +264 65 240 453 Ondangwa Town Council Secretary of Procurement Management Unit Private Bag 2032 Ondangwa, Namibia Monday, 19 February 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Swakopmund Town (Ferdinand Stich Str 4) 13:00-18:00 Tuesday, 20 February 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Tsumeb Town (Private Hospital) 11:00-18:00 Walvis Bay Town (Behind Welwitschia Medi-park) 13:00-18:00 Wednesday, 21 February 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 NIMT (Tsumeb) 09:00-16:00 Mpact (Walvis Bay) 10:00-15:00 Thursday, 22 February 2018 Centre Tal Street 07:00-18:00 United House Centre 08:30-16:00 NIMT (Tsumeb) 09:00-16:00 Rössing Mine 09:30-15:30 Friday, 23 February 2018 Centre Tal Street 07:00-16:00 United House Centre 08:30-16:00 Manica Group (Walvis Bay) 09:00-13:00 Sponsored by:

NEW ERA Page 10 Trustco Properties unveils serviced land in Ondangwa Page 11 INSIDE BUSINESS This news is your business Economist projects accelerated domestic economic growth Staff Reporter Windhoek “Namibia’s economic growth outlook for 2018 looks positive and we can remain cautiously optimistic.” This is the sentiment with which economist at Standard Bank, Nau- national economy at the recently held economic outlook session for 2018 in Windhoek. This session comes just barely a week before the much-anticipated national budget review slated for the March 7, by Finance Minister Calle Schlettwein. Overall, Hamunime cites that there have been positive developments in the economy and domestic growth is expected to increase to 2.2 percent and 3.1 percent in 2018 and 2019 respectively. This, she says, will likely accelerate over the next few years. There is also the possibility that the local economy demand for raw materials as a result of projected growth in emerging markets and advanced economies. Following the 2016 economic slowdown, the country’s GDP growth slowed to 1.1 percent as a result of low commodity prices, construction slowdown, reduced SACU revenue, Angolan economic crisis, reduced government spending and drought. According to the Bank of Namibia the domestic economy remained weak in 2017 with GDP having only growing by 0.6 per- revision from 2.1 percent growth projected in July. This minimal growth experi- previously expected contractions in the construction, wholesale and retail trade sectors, as well as slower than expected growth rates for manufacturing, electricity and water and the public sector. Hamunime further noted that the primary sector performed quite well last year. This was largely off the back of recovery that was seen in both the agriculture and mining sectors. Last year growth in the agriculture sector increased to 8.1 percent as a result of normalising rainfall patterns. “However growth in the sector is expected to moderate in 2018 and 2019 due to uncertain weather contraction and a slight recovery. There’s also been strong recovery in the mining and quarrying sectors largely as a result of increased diamond mining,” said Hamunime. “Going forward uranium mining is expected to increase, however the effects of this will be somewhat muted by subdued uranium prices. This coupled with the expected slowdown in diamond mining is expected to result in moderate growth in the mining sector.” As for the secondary industries there appeared to be a contraction in 2017 and as a result is expected to remain depressed in 2018. She states that growth in the construction sector will generally remain depressed following the completion of major projects in the consolidation by government. Hamunime concluded that government has been making moves to improve the economy and a strong drive to reform under-performing State-Owned Enterprises. She says commendable efforts have also been made to whilst continuing to invest in productive assets through the establishment of the Infrastructure Fund and the African Development Bank loan. Hamunime Ithete sounds warning to non-performing SOEs … As NamibRe declares N million dividends Edgar Brandt Windhoek Deputy Finance Minister Natangue Ithete yesterday sounded a warning to ill-managed and underperforming public enterprises, as well as entities and individuals defaulting on tax payments, that their time is running out. The same shot was parted in the direction of publicly-funded institutions overcommit government resources to unbudgeted expenditure. Ithete made the remarks yesterday as he received a N million cheque in dividends from the Namibia Reinsurance Corporation year ended March 31, 2017. The NamibRe dividend, which was declared at the company’s Annual General Meeting in December last year, was welcomed by Ithete, particularly in the face of tough economic challenges experienced by the domestic economy. The N million dividend equates to 23 percent of Na- Shot in the arm… NamibRe’s board chairperson Libertha Kapere (left) handing over the N million dividend cheque to Deputy Minister of Finance, Natangue Ithete, yesterday. Photo: Edgar Brandt This brings the total returns paid to the shareholder, from 2014 to 2017, to N.3 million. “Most of our SOEs [stateowned enterprises] have been in existence for 25 or 28 years yet have never paid a dividend to government. This is unacceptable, especially for SOEs in commercial and economic sectors,” he said. “As an individual, one cannot own and keep a company for 25 years or more that does not bring returns, so why should government?” He added that public enterprises were not established to be cost-liabilities with constant bailouts but were created for tough times to assist government in growing the economy and to provide affordable services to industry and the public at large. “Some of these institutions are failing us all as of their mandates. Continuous bailouts by the state is unsustainable. I urge all line ministries to use their power as shareholders of these parastatals and demand returns,”Ithete stated. He continued that numerous public enterprises are in tax arrears but yet they deduct Pay As You Earn (PAYE) from their employees and charged that some do not comply with other statutory tax obligations, such as withholding taxes on services paid to non-residents and deducting PAYE from director’s fees. Such practices, he said, should cease forthwith. “We cannot be lenient with these mismanagement tendencies. It is now time to use all accountability provisions under the existing acts, policies and the Namibian laws to curb all wastage and unnecessary costs. All manners of underperformance, mismanagement and overspending in public enterprises and government should be frowned upon and those guilty of such should face disciplinary actions and charged accordingly,” said Ithete. At the occasion, Ithete commended NamibRe for consistently declaring dividends to government, spe- of economic challenges. “Since I joined the Ministry of Finance in 2015, each year I have witnessed the handing over of dividends from NamibRe and not once have I heard of you asking for bailouts,” he told its management. Handing over the dividend cheque to Ithete, NamibRe’s board chairperson Libertha Kapere noted that as is expected from any business, NamibRe is required to declare dividends to its only shareholder, the government. She explained that for NamibRe, the expectation of dividends is in fact entrenched in the corporation’s establishing Act and its own dividend policy. “Over the years we have witnessed a gradual and sustained increase in the dividend amount declared to our shareholder. This means that NamibRe is performing as per the expectation of the shareholder and, more often than not, exceeds that performance,” said Kapere.

New Era

New Era Newspaper Vol 22 No 167