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WEATHERMEN & CO NEW ERA SA minister calls on companies to support small businesses Page 11 EU launches probe into Ikea’s Dutch tax deals Page 12 INSIDE USINESS This news is your business board upholds gym rebate ban Staff Reporter Windhoek Victoria Muranda The appeal board of the Namibia Financial Institutions funds are with immediate effect not permitted to offer gym rebates and other wellness programmes which are in contravention of Section 1 of the Medical Aid Funds Act. The funds were accordingly so informed. has a statutory mandate to exercise supervision of the business alia, to the business of medical aid funds, which are governed by the Medical Aid Funds (MAF) Act, 23 (Act No. 23 of 1995) and subsequent regulations, directives and notices published thereunder. noted that the registrar of medical aid funds had issued a directive to the medical aid funds industry, informing the said industry players that the practice of offering gym rebates and wellness said funds is in contravention of section 1 of the MAF Act. Funds were directed to comply with the said directive by December 31, the registrar of the funds, is compelled by statute to rectify any malpractice which is in contravention of the applicable Act that only a “healthcare treatment provided by a person appeal board against the decision of the registrar to allow for the phasing out of gym rebates and other wellness programmes by December 31, 2018. of the funds. Funds were invited to oppose the appeal, however none of the funds elected to oppose the appeal. On December 14, the appeal board set aside the decision of the registrar and substituted it with the following: “That the medical aid funds are herewith directed to comply with Section 1 of the Medical Aid Funds Act, with immediate effect.” appeal board order. WINDHOEK Govt to refund NamWater N5 million Government will refund millions of dollars availed to it by the Namibia Water Corporation (NamWater) for some strategies countering the effects of the drought of 2016. A total amount of N5 million dollars, which was used for the deepening of boreholes and improving other water infrastructure, will be returned to the water utility. Minister of Agriculture, Water and Forestry, John Mutorwa, revealed during an annual general meeting with NamWater’s board of directors and management on Friday that Cabinet directed that the money be refunded. The meeting was held to review NamWater’s annual financial statistics report for the 2016/17 Mutorwa said NamWater had availed the funds to bail out the ministry with water infrastructure during the water crisis last year. He reported that the money was used to deepen the boreholes at Kombat and Berg Aukas, to clean the canal which runs from Grootfontein to Omatako Dam and Von Bach Dam, and to conduct major repair work at Von Bach. “Once the boreholes were deepened, we could get more water from underground water sources in those areas. But it required money to go deeper and install equipment capable of getting the water through the canals up to the Omatako and Von Bach dams,” Mutorwa explained. He added that part of the money was used to assist the City of Windhoek (CoW) with drilling emergency boreholes in and around the city. The boreholes that were drilled are part of the CoW’s assets and do not belong to NamWater, Mutorwa said. “The current prevailing general economic environment in the world and is making trading conditions quite unfavourable,” Mutorwa said. – Nampa Photo: Nampa Playing its part… The entrance to the NamWater Von Bach training centre at Okahandja. OLD WAY Total cost=N Sending money to your mother in the village NEW WAY Bank Better with FNB’s electronic channels Get a taxi and drive to a shop where the ATM is located (N) It takes 3 days to get the money to your mother and she ends up with less than you sent Spend 2 days trying to find someone trustworthy who can take the money to your mother The car breaks down on the way and she has to wait another day. N gets stolen from the car when nobody is looking Dial *140*321# from your phone Enter PIN Choose Send Money – eWallet Enter N0 Transaction cost: N She receives the money immediately. TIP Use FNB eWallet to send money quickly and conveniently to anyone in Namibia with a Namibian cellphone number