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ol. 22 No. 139 Windhoek, Namibia Tuesday, February 21 2017 Inside Today SOEs draining the economy - Schlettwein Many state-owned enterprises (SOEs) have for far too long been a drag on the Namibian economy by perpetually relying on government bailouts, a situation the minister of finance says should cease henceforth. Page 3 2017 budget should be anchored on fiscal sustainability Twilight Capital Consulting’s Managing Director, Mally Likukela, has urged government to consider a paradigm shift in the national budget by anchoring the budget on fiscal sustainability. His call comes as preparations for the 2017 National Budget gather momentum and greater participation by various stakeholders becomes evident. Page 11 Angolan firm explores for oil in Kavango Petrus Muronga Windhoek An Angolan-based oil firm ACREP which owns a petroleum exploration licence has started with oil exploration in the areas of Gava and Sikarosompo in Kavango West Region. Over the past years oil exploration in Namibia gained a great amount of international interest due to the rise in oil prices but interest started to slow down after oil exploration companies did not discover any oil of commercial value. ACREP, which completed an aerial gravity and magnet survey as well as an environmental assessment study in 2015, will search blocks 1718 and 1818 in the Etosha Sedimentary Basin in the region. According to information provided by the office of the regional governor of Kavango West, Geingob preaches unity at politburo meeting President Hage Geingob Staff Reporter Windhoek President Hage Geingob, in a brief address yesterday, called for unity of purpose among Namibians of all races, creeds and colour. The ruling party, which had a difficult spell last week following confrontations in parliament between its members, held its first politburo meeting of the year yesterday. Geingob was expected to set a strong tone on current confrontations ANGOLAN on page 2 Looking for black gold… This illustrative photo shows workers involved in oil exploration. in the party – at least behind closed doors. But on record, he echoed his popular sentiment that 2017 is a year of rededication, hinting that any national goals would not be achieved by a divided nation. “Let us rededicate ourselves to unite the people of Namibia, irrespective of race, religion, sex or ethnic origin into a democratic, vibrant and peace-loving nation,” he said in a short statement. Unconventional steps needed to tackle economic storm Desie Heita Windhoek Namibia needs to take unconventional steps to respond to the unusual economic situation facing the country, and as a beginning should “evangelise confidence in the economy”, opined executive chairman of Eos Capital, Johannes !Gawaxab. Eos Capital is a newly incorporated wholly owned Namibian private equity fund manager that is managing the Allegrow Fund in Namibia. “We need to re-imagine our economy,” said !Gawaxab yesterday in an interview with New Era. He pointed out that the global economy has weakened, which has had a negative impact on the local economy, aggravated by the drought and dwindling revenues from the Southern African Customs Union (SACU) pool. Man kills elephant in ‘self-defence’ John Muyamba Rundu Johannes !Gawaxab STEPS on page 2 A man at Mushangara village in Bwabwata National Park reportedly shot and killed an elephant bull between 15h00 and 16h00 on Sunday afternoon in self-defence. “The shooting occurred after an elephant herd destroyed half a crop field which the man looked after. After he shot the elephant in self-defence the family reported the incident to me. I then informed the environment officials in the area and we visited the site on Sunday morning,” narrated Mukwe Constituency Councillor John Thighuru. Bwabwata National Park as a multipurpose park has several San communities who have villages GEINGOB on page 2 ELEPHANT on page 2 BOOK & PAY ONLINE! We are now accepting online payments through our website. Make your booking in 3 easy steps. Book your next getaway from the comfort of your home or anywhere else. MAKE YOUR BOOKING TODAY! +264 61 285 7200 New Era Newspaper @NewEraNewspaper #NewEraNewspaper • •

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New Era Newspaper Vol 22 No 167