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Vol. 22 No. 162 Windhoek, Namibia Monday, March 27 2017 Inside Today Family seeks answers over minor’s death Health Minister Bernhard Haufiku is expected to have a press conference this morning to address, amongst others, the death of a three-year-old girl that died at Katutura State Hospital shortly where she was treated after being bitten by a dog.. Page 3 FNB’s acquisition of Pointbreak and EBank finally approved All regulatory requirements for FNB Namibia Holdings to acquire 100 percent of Pointbreak and EBank have been met and approval of the deal has been granted by Namfisa, the Bank of Namibia, Competition Commission and South African Reserve Bank. Page 9 Edgar Brandt Windhoek The Government Institutions Pension Fund (GIPF), the country’s largest institutional investor, is to spend over N billion to acquire Germany proposes atonement plan for Namibia a 25 percent interest in the issued ordinary shares of Capricorn Investment Group Limited, the owners of Bank Windhoek. In terms of the proposed agreement, GIPF will acquire a 15.5 percent interest in Capricorn Group from Capricorn Investment Holdings Limited (CIH) and a further shareholding of 9.5 percent from Namibia Strategic investments Limited at a negotiated total amount in excess of N billion. The transaction, which was Deal signed… Front row from left: Capricorn Group MD Thinus Prinsloo, GIPF board chairman Goms Menettè, Capricorn Group and CIH chairman Koos Brandt, GIPF CEO David Nuyoma, vice-chairman of Capricorn Group and CIH Johan Swanepoel. Back row: GIPF Legal Services Melki Uupindi, chief financial officer of Capricorn Group Jaco Esterhuyse, Bank Windhoek MD Baronice Hans, GM of investment at GIPF Conville Britz and corporate finance consultant at Investec Bank Joubert van Wyk. PM ‘not to blame’ for oil storage facility costs Staff Reporter Keetmanshoop Photo: Contributed GIPF acquires 25% of Capricorn for N billion facilitated by CIH, is still subject to the necessary regulatory approvals. If the deal is concluded, CIH’s shareholding in the Capricorn Group will decrease from 56 percent to 40.5 percent. GIPF on page 2 Youngsters crowned Harders Cup champions Much traveled striker Eusebio Fredericks, who had previous stints with the Namibia Premiership giants Civics, Ramblers and Orlando Pirates respectively, netted a superbly taken hat-trick to inspire his team, Youngsters Football Club, to a well-deserved triumph over fellow coastal rivals Novanam. Page 24 MUNICH Germany has proposed a German-Namibian future foundation and structural fund as part of its atonement for the injustices of the German colonisation of Namibia, then known as German South West Africa. The fund would promote energy, education and housing projects, as well as land reform in Namibia, the Sächsische Zeitung reported last week. The fund would be accompanied by an official apology from Germany for the crimes committed against Ovaherero and Nama people during the German colonial period. NAMIBIA on page 2 Photo: Nampa On a mission… Special envoy of the German government Ruprecht Polenz greets President Hage Geingob at State House during his visit to Namibia in July 2016. Polenz has said the German government is prepared to apologise and atone for colonial-era crimes committed by German troops. Prime Minister Saara Kuugongelwa- Amadhila is not to blame for the escalation of costs of the oil storage facility under construction at Walvis Bay, as she had nothing to do with it, her office said yesterday. The cost of the storage facility is reported to have escalated from an initial amount of N.7 billion in 2014 to some N.5 billion in 2016 – said to have been the result of foreign exchange rate fluctuations. A local daily paper reported recently that the prime minister is also partly to blame for the cost escalation. The report claimed that although foreign exchange fluctuations have been blamed for the high construction costs of the storage facility, other unnamed sources have cast the blame on Kuugongelwa-Amadhila. PM on page 2 UNAM, A Clear Choice! New Era Newspaper @NewEraNewspaper #NewEraNewspaper • •

New Era

New Era Newspaper Vol 22 No 167