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ol. 22 No. 99 Windhoek, Namibia Friday, December 9 2016 MTC’s full indigenisation draws closer Inside Today Culture is not only about dancing - Geingob President Hage Geingob says culture is not only about dancing and engaging in lively performances but involves different aspects of cultural norms and values that our forefathers followed. Page 3 Desie Heita Windhoek Cabinet this week officially set in motion the process that is likely to bring the ownership of the country’s biggest mobile telecommunication operator into local hands. On Tuesday this week Cabinet approved that the state-owned Namibia Post and Telecommunication Holdings (NPTH) proceed with the proposed buying strategy of MTC shares. “Cabinet approved the GNT/ NPTH to proceed with the proposed buying strategy of shares, once the terms and conditions set out by the lender, i.e. GIPF and other financial institutions are agreed upon,” said the statement issued by information minister Tjekero Tweya. Once NPTH finalises the process, local investors, particularly pension funds, are likely to be tapped on the shoulders to bid for the 34 percent stake in MTC, that is currently in the hands of European-based investment funds. INDIGENISATION on page 2 Windhoek Country Club Resort pays government N million in dividends Despite a large number of its rooms being unavailable for occupation due to a full refurbishment, the Windhoek Country Club Resort and Casino (WCCR) on Wednesday revealed financial results which showed gross margins for the year which ended on April 30, 2016 were N million. Page 17 Wanderers finally man up for Kwaaitjie’s racial slur It takes a man of genuine dignity and integrity to admit his mistakes and say I’m sorry – well FNB Wanderers rugby club fits the bill perfectly. Page 44 Cabinet writes off tax interest Elvis Muraranganda Windhoek Cabinet has authorised Treasury to waive or write off penalties and interest running into billions of dollars accrued from outstanding individual taxes. This means interest on penalties issued to those who have failed to pay their taxes will no longer be binding – however those who were punished should approach the Receiver of Revenue to adjust their tax. This was announced yesterday by the information minister, Tjekero Tweya, during the last media briefing on Cabinet resolutions for 2016. “Cabinet further authorised the minister of finance to invoke section[s]… of the State Finance Act to allow the Treasury to exercise its mandate of writing off tax debts,” Tweya announced. “Cabinet approved the tax debts of individual taxpayers and provisional taxpayers, who will participate in the programme, to be waived or written off… upon application by the affected person for such a waiver,” he said. TAX on page 2 “We have had consultation with the Construction Industries Federation at which government has communicated its plans for meeting the payments.” – Finance Minister Calle Schlettwein Govt will pay, says Schlettwein ... But construction industry owes N.45 billion in tax arrears Edgar Brandt Windhoek Up for grabs… MTC, joint winners of Africa’s Most Significant LTE Development award with Huawei at an event held in Cape Town last month, has put up 34 percent of its shares for sale. Photo: MTC Finance minister Calle Schlettwein has assured the private sector that government will pay for services rendered but said the deadline of December 15, set by the Construction Industries Federation goes against the “consultative spirit” in which government has engaged the federation. The federation issued a statement on Wednesday asking government to pay outstanding invoices of more than N billion owed to 115 companies, by December 15. Schlettwein also noted that key players in the construction sector owe government as much as N0 million in assessed principal tax or some N.45 billion in accumulated tax arrears. PAY on page 2 New Era Newspaper @NewEraNewspaper #NewEraNewspaper • •

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New Era Newspaper Vol 22 No 167