10 Inside BUSINESS Thursday, July 20 2017 | NEW ERA Staff Reporter Windhoek Cheque fraud remains one of the oldest forms of fraud and one of the biggest challenges facing businesses, individuals and customers alike. Although e-commerce has brought other forms of payment such as cell phone and internet banking, cheques are still considered a convenient form of payment in place of cash, by individuals and businesses. “However, cheque fraud is still real and we encourage our customers to take advantage of recent technology by using payment methods such as electronic transfers, online banking and cards payments to mention but a few,” said Standard Bank spokesperson Surihe Gaomas-Guchu. According to the Bank of Namibia, regulations the phasing out of cheques will still take place in GIZ-ProVET, EU-Training HUB Namibia Environmental must verify that the payment Consultants have been made cc out (NEC) by the payer, hereby to be sent give back, normally notice by to all was made in cash and if it is a but fraudsters alter such cheques money transfer like cellphone potentially Interested cheque payment wait and until Affected the in some Parties way before (I&APs) they are wallets. that The an cheque application subsequently will cheque clears before releasing the paid, by for instance altering the bounces and the customer suffers be made to Environmental Commissioner in terms of the Environmental Management Act (No 7 of 2007) and the Environmental Impact Assessment Regulations (GN 30 of 6 February 2012) for the following activity: the near future. Gaomas-Guchu said that as of late there have been several incidents regarding fraudulent New deal… Weathermen & Co celebrated its fourth anniversary in style, as the official advertising agency for the country’s leading mobile telecommunications service provider, Mobile Telecommunications Limited (MTC), and First National Bank (FNB), including other brands in the Rand Merchant Bank (RMB) stable. Other clients apart from the lucrative deals just signed include Total Namibia, Namibia Breweries, Namib Mills, Namibia Dairies, and the O&L Group. Photo: Contributed PROJECT NAME: Tsandi Landfill Site of Tsandi PROJECT LOCATION: Tsandi, Omusati Region GIZ-ProVET, EU-Training HUB PUBLIC NOTICE ENVIRONMENTAL IMPACT ASSESSMENT FOR THE CONSTRUCTION OF A LANDFILL SITE IN TSANDI, OMUSATI REGION PROJECT DESCRIPTION: The project will comprise out of the following four activities: • Construction of a Landfill Site PROPONENT: Tsandi Village Council Public Meeting Date: 18 May 2017 Time: 11h00 Cheque fraud rearing its ugly head again cheques issued to suppliers or deposited into a supplier’s bank account as cash in return for tangible goods. “Generally, cheque fraud looks like a legitimate business transaction. The perpetrator will approach the targeted business entity with an urgent order for goods or services and a promise for immediate payment. The promise is Forged cheques are involved in PUBLIC forged and/or NOTICE altered cheques. often supported by proof of cash instances where genuine cheques ENVIRONMENTAL IMPACT ASSESSMENT FOR THE deposit. However, the payment is are stolen from innocent customers and used by fraudsters. In this made with a bogus or fraudulent CONSTRUCTION cheque. OF case, A signatures LANDFILL and amounts SITE IN TSANDI, This cheque is not honoured are mostly the details which are by the bank and leaves the OMUSATI busi- altered/changed. REGION ness or customer out of pocket. Anyone who receives payment goods,” explains Gaomas-Guchu. Cheque fraud can come in many forms ranging from counterfeit cheques, where such counterfeits are printed on nonbank paper to look exactly like genuine cheques and are drawn by fraudsters on genuine accounts held by the bank. There is also fraud involving Altered cheques are involved in instances where cheques which Namibia Environmental Consultants cc (NEC) hereby give notice to all potentially Interested and Affected Parties (I&APs) that an application will be made to Environmental Commissioner in terms of the Environmental Management Act (No 7 of 2007) and the Environmental Impact Assessment Regulations (GN 30 of 6 February 2012) for the following activity: PROJECT NAME: Tsandi Landfill Site of Tsandi PROJECT LOCATION: Tsandi, Omusati Region beneficiary name or amount of the cheque. At times, fraud by cheques is committed where genuine cheques are issued by legitimate account holders while bank accounts from which such cheques are issued do not have funds by which such cheques can be honoured. These cheques are called “Refer to Drawer” cheques and are always rendered unpaid. Overpayment is also classified as a fraud scam which happens when a customer advertises an item for sale in a newspaper or internet. The fraudster responds and sends or deposits a cheque for more than the item advertised. They then ask the difference PROJECT DESCRIPTION: The project will comprise out of the following four activities: Venue: TENDER TENDER Tsandi INVITATION Traditional Authority For • Construction of a Landfill Site ENVIRONMENTAL For CONSULTANT: PROPONENT: Tsandi Namibia Village Council Environmental Consultants Setting up a Learning Management System (LMS) for the Setting up a Learning EU-Training Management Hub. System Public (LMS) Meeting REGISTRATION for the EU-Training OF Hub. I&APS AND SUBMISSION OF COMMENTS: Date: 18 May 2017 The EU-Training Hub is implemented by the “Promotion of Vocational Education and The EU-Training Namibia” Hub is implemented (ProVET) project, by the a “Promotion joint technical of Vocational cooperation Time: 11h00 programme Education and of Training the Namibia in Namibia” Training (ProVET) Authority project, (NTA) a and joint the technical Deutsche Gesellschaft cooperation für programme Internationale of the Zusammenarbeit Namibia Training (GIZ) Authority GmbH, (NTA) on behalf and the of the Venue: Tsandi Traditional Authority German Deutsche Federal Gesellschaft Ministry für of Internationale Economic Cooperation Zusammenarbeit and Development. (GIZ) GmbH, It is funded through a co- financing agreement with the European Union. The on behalf of the German Federal Ministry of Economic Cooperation ENVIRONMENTAL and CONSULTANT: Namibia Environmental Consultants training hub aims at facilitating access to VET and improving the quality of Development. It is funded through a co- financing agreement with the vocational training within a cluster of vocational training centres in northern Namibia, European namely: Union. Valombola The training VTC, hub Eenhana aims at VTC facilitating and Nakayale access REGISTRATION to VTC. VET and OF I&APS AND SUBMISSION OF COMMENTS: improving the quality of vocational training within a cluster of vocational To training deliver centres on its mandate in northern of delivering Namibia, namely: quality innovative Valombola teaching VTC, In line Eenhana solutions with Namibia’s the Environmental Management Act (No. 7 of 2007) and training hub is seeking to set up a learning management system for the three VTC and Nakayale VTC. centres that make up the training hub. The LMS will preferably EIA be regulations setup using (GN 30 of 6 February 2012), all I&APs are hereby invited Moodle. To deliver We on are its therefore mandate inviting of delivering Companies quality and individuals innovative to who register teaching possess and the submit their comments, concerns or questions. All I&APs relevant solutions experience the training and hub expertise. seeking to set up a learning management system for the three centres that make up the training hub. will The be LMS provided will with a Background Information Document (BID) consisting Closing date for on applications the contact is 25 preferably be setup using Moodle. th July 2017. details If you are interested, below: please request the We are therefore inviting of Companies descriptive information about the development activity. Should you wish terms of references and submit your technical and financial proposal in two separate sealed and individuals envelopes to who the possess following the address: relevant Karoline experience Kadhikwa, and GIZ-Office to expertise. register Namibia, as P.O. an I&AP, kindly contact Namibia Environmental Consultant Box 8016, 88 John Meinert Street, Windhoek West. Email: firstname.lastname@example.org on the contact details below: Closing date for applications is 11 th August 2017. If you are interested, Tel: +264 (0) 81 613 7757 Email: email@example.com please request the terms of references and submit your technical and financial proposal in two separate sealed envelopes to Tel: the +264 following (0) 81 613 7757 Email: Tel: +264 firstname.lastname@example.org (0) 81 613 7757 address: Karoline Kadhikwa, CLOSING GIZ-Office Namibia, DATE P.O. Box FOR 8016, 88 COMMENTS: Email: email@example.com 29 May 2017 John Meinert Street, Windhoek West. Email: firstname.lastname@example.org CLOSING DATE CLOSING FOR DATE COMMENTS: FOR COMMENTS: 29 31 May July 2017 2017 In line with Namibia’s Environmental Management Act (No. 7 of 2007) and EIA regulations (GN 30 of 6 February 2012), all I&APs are hereby invited to register and submit their comments, concerns or questions. All I&APs will be provided with a Background Information Document (BID) consisting of descriptive information about the development activity. Should you wish to register as an I&AP, kindly contact Namibia Environmental Consultant Surihe Gaomas-Guchu the loss. “In order to avoid financial losses associated with cheque fraud, we urge customers to always be vigilant about fraudulent cheque deposits,” Gaomas-Guchu said. New spokesman… As of the beginning of July, Charlie Matengu is the new public relations officer of Central-Northern Regional Electricity Distributor (Cenored). Matengu is a trained communications practitioner and radio personality, whose knowledge and experience was obtained during his professional grooming at institutions, such as Ministry of Fisheries, Ministry of Gender, NUST, Bank of Namibia, Fresh FM, Base FM, UNAM Radio, amongst others. “For me, the art of public relations is not only using a wide range of media to build and sustain a good image for a company, organisation or brand through planned publicity campaigns and PR activity, but to build a reality of mutual respect and trust with your stakeholders. Organisational behaviour must support the organisational communication,” he said.
Thursday, July 20 2017 | NEW ERA Inside BUSINESS 11 Randgold finalises full commissioning of DRC Kibali gold mine JOHANNESBURG Randgold Resources on Tuesday said completion of two remaining components - an underground shaft system and third hydropower plant - at the Kibali gold mine in the Democratic Republic of Congo (DRC), remain on track despite uncertainty caused by possible changes to that country’s mining legislation. Randgold chief executive Mark Bristow said these projects would effectively deliver the giant mine to nameplate design, scheduled for later this year. Kibali is a joint venture between Randgold, AngloGold Ashanti, and DRC parastatal SOKIMO, comprising 10 permits covering an area of about 1,836 square kilometres in the Moto goldfields of the north east. The project is operated by Randgold and represents an investment of more than US$ 2.5 billion by the partners. Kibali comprises an integrated open pit and underground operation as well as a 7.2 million tonnes per annum processing plant. The mine poured its first gold in September 2013 from open pit mining and is currently developing the underground mine via twin declines and a vertical shaft, with the handover of the vertical shaft scheduled for 2017. Bristow said that while Kibali was working towards delivering the underground mine, it was also maintaining a steady operational performance and was well positioned to meet its production target of 610,000 ounces of gold this year on the back of better grades forecast from the underground ramp up, particularly in the fourth quarter. Bristow noted that since the project was launched in 2010, Kibali had contributed .2 billion to the Congolese economy in the form of taxes, salaries and payments to local suppliers. The mine has repatriated more than 40 percent of its gold sales revenue since first production in 2013, meeting and exceeding the requirements of the country’s mining code. The government is again considering changes to this code and Bristow said this represented an unmissable opportunity to lay the foundations for a sustainable mining industry in the DRC. “I am concerned, however, that the government is not engaging in open and inclusive consultations with the industry and appears to be proceeding from a pre-determined position that may put existing and future mining investments at risk,” Bristow said. “The mining industry is the main engine of the Congolese (DRC) economy. Government and the private sector must work together to find the best way of growing this industry and to avoid potentially damaging short-term actions by realistically considering their consequences.” Bristow said despite Randgold’s concerns about proposed revisions to the mining code and other challenges in the DRC, it was continuing to invest in the country and, in addition to ongoing exploration along Kibali’s KZ structure, was progressing work on the Moku project and the Ngayu belt. Randgold is also investigating a number of other interesting opportunities and its commitment to the longer term was why it worried about ill-considered changes to the mining related legislation. - Nampa/ANA Amplats half-year earnings to be hampered by tax impairments JOHANNESBURG Anglo American Platinum (Amplats) said on Tuesday that headline earnings and headlines earnings per share (HEPS) for the the six months ended 30 June were likely to decrease even further. Amplats said headline earnings and HEPS were likely to decrease to between R550 million and R875 million and to between 210 cents and 335 cents per share, or between 67 percent and 47 percent lower, than the prior year’s restated figure of 629 cents respectively. Last month, Amplats said headline earnings and HEPS for six months ended 30 June would be at least 20 percent lower than the comparative period at R329 million and R308 million, meaning the decline would be between 126 and 118 cents per share, respectively. Amplats said the expected decrease in headline earnings and basic earnings was primarily a result of attributable post-tax impairments totalling R2.2 billion impacting basic earnings of which R0.3 billion impacts both basic and headline earnings. The impairments that impacted only basic earnings included Union mine of R0.9 billion, consequent on the signature of agreements to sell the company’s interest in Union and shareholding in Masa Chrome, equity interests in Bafokeng Rasimone Platinum mine (BRPM) of R950 million and Bokoni Platinum Holdings of R45 million. The impairments that impacted basic and headline earnings include the write down of a term loan to Atlatsa and a loan to the Bakgatla Ba-Kgafela Community related to their interest in Union. In addition, Amplats said expected headline and basic earnings were lower due to a significant strengthening of the rand in the first half of 2017 compared to the first half of 2016, as well as lower sales volumes. Sales volumes were impacted by refined production. Amplats will release the results for the six months ended 30 June next week. – Nampa/ANA MTN halfyear earnings improve by 20% JOHANNESBURG MTN Group has announced that it expects to report an improvement of at least 20 percent in both headline earnings per share and earnings per share for the six-month period ended 30 June. This would be a significant improvement in MTN’s interim results compared with a headline loss per share of 271 cents and attributable loss per share of 301 cents reported in the prior comparable period that ended 30 June 2016. MTN said the negative performance in the prior year period was mainly as a result of nonrecurring costs, including the Nigeria regulatory fine of 474 cents per share. Professional fees related to the fine of 73 cents per share and losses of 136 cents per share from MTN’s 51 percent equity interest in Nigeria Tower InterCo B.V., mainly as a result of unrealised losses on US dollar-denominated loans, also contributed to negative performance in 2016. MTN was initially fined US.2 billion by the the Nigerian Communications Commission for not deactivating more than five million unregistered SIM cards, but the fine was later reduced to .67 billion after negotiating the fine with the Nigerian government. The South African based telecommunications giant has since paid US4 million of the fine after agreeing to settle the debt over three years. MTN said it was in the process of finalising its interim financial results which will be announced on the Stock Exchange News Service of the JSE on 3 August. - Nampa/ANA MARKET OVERVIEW Money Market Change Latest Selected NSX Stock 3 months 0.00% 7.34% Symbol Stock Name Spot % Move 6 months 0.00% 7.83% CGP CAPRICORN INVESTMENT GROUP 1800 0.00% 9 months 0.00% 7.95% NBS NAMIBIA BREWERIES LTD 3350 0.00% 12 months 0.00% 8.15% BVN BIDVEST NAMIBIA LTD 787 0.00% Bonds Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4680 0.00% GC17 (R203 : 7.32%) 0.01% 7.99% ORY ORYX PROPERTIES LTD 2071 0.00% GC18 (R204 : 7.41%) 0.00% 8.32% NAM NAMIBIAN ASSET MANAGEMENT 72 0.00% GC21 (R208 : 7.64%) 0.03% 8.46% NHL NICTUS NAMIBIA 200 0.00% GC24 (R186 : 8.64%) 0.03% 9.86% BMN BANNERMAN RESOURCES LTD 31 3.33% GC27 (R186 : 8.64%) 0.03% 10.25% DYL DEEP YELLOW LTD 281 -1.75% GC30 (R2030 : 9.18%) 0.03% 10.85% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC32 (R213 : 9.26%) 0.03% 10.97% FSY FORSYS METALS CORP 138 0.73% GC35 (R209 : 9.55%) 0.03% 10.98% TUC TRUSTCO GROUP HOLDINGS LTD 420 0.00% Commodities %Change Latest B2G B2GOLD CORP 3557 -0.28% Gold 0.08% $ 1,243.45 Platinum -0.22% $ 925.39 Copper 0.00% $ 6,007.00 Brent Crude 0.87% $ 48.53 Main Indices %Change Latest NSX (Delayed) -0.01% 1052.13 JSE All Share 1.52% 54,070.75 SP500 0.06% 2,460.61 FTSE 100 0.42% 7,421.23 Hangseng 0.56% 26,672.16 DAX 0.05% 12,436.93 JSE Sectors %Change Latest Financials 1.64% 15,148.31 Resources 0.83% 32,281.94 Industrials 2.07% 73,822.34 Forex %Change Latest N$/US dollar 0.15% 12.9155 N$/Pound 0.09% 16.8369 N$/Euro -0.05% 14.8959 US dollar/ Euro -0.18% 1.1533 Namibia Monthly Data Latest Previous Namibia Inflation (Jun 17) 6.1 6.3 Bank Prime 10.75 10.75 BoN Repo Rate 7.00 7.00 19-Jul-17