Two ministries return N$205m to Treasury

The ministries of Poverty Eradication and Social Welfare and Gender Equality and Child Welfare have returned a combined N$205 million to Treasury despite a worsening poverty crisis in the country, reports from the Auditor General have shown.

Treasury seeks to reverse N$20m bar deal

Finance Minister, Calle Schlettwein, is leading an inquiry into how the Business and Intellectual Property Authority (BIPA), through the Ministry of Industrialisation, Trade and SME Development, bought a rundown property in Katutura for N$18 million without approval from the procurement board and the line minister. 

Treasury cuts 2017 economic growth forecast

Finance Minister, Calle Schlettwein, has cut the country’s initial 2017 economic growth forecast of 2.5 percent down to 1.8 -2.3 percent after Namibia slipped into a technical recession in the second quarter.

No Treasury funding for NWR’s business plan

Namibia Wildlife Resorts’ (NWR) new strategic business plan will not be funded by Treasury, the Windhoek Observer has established.

Govt moves to settle outstanding invoices

Treasury has released N$600 million towards settling unpaid Public Service Medical Aid Scheme (PSEMAS) service providers and other contractors’ bills that had been outstanding since the last financial year, Finance Minister, Calle Schlettwein, has said.

The Ministry of Works and Transport says it might not be able to pay some of its outstanding invoices this financial year after Treasury only released N$581 million of the N$702 million the ministry owes service providers. The cash crunch experienced by the Government last year saw the ministry failing to pay invoices worth an initial N$702 million, but the finance ministry has since allocated N$581 million in the 2017/18 budget, leaving an outstanding amount of N$120 million.

WINDHOEK OBSERVER

The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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