THE Minister of Trade and Industry, Calle Schlettwein feels disappointed with local businesses for not making deposits with the SME Bank in which the Government has 65 percent shareholding. This comes amid reports that the bank does not have adequate capitalisation to serve the SME sector, which many feel has not received the necessary support from existing financial institutions.
TELECOM Namibia’s intentions of sourcing funding from capital markets were dealt a severe a blow this week when international rating agency, Fitch downgraded its outlook to negative. In June the Managing Director of Telecom, Frans Ndoroma announced, “Telecom will be sourcing new funding in the capital markets”. He made the announcement at the release of the company’s full financial statements.
THE chairman of the board of directors of the National Housing Enterprise (NHE) faces accusations of entering into an improper property deal with the housing parastatal. The deal, which according to Jason Nandago, he negotiated with the housing parastatal but did not conclude, has all the hallmarks of conflict of interest.
BOARD members must be held personally responsible for the compensation of CEOs if their handling of suspensions and dismissals are found to be reckless and unprocedural. This is the view of Junius Mungunda, Deloitte’ Regional Managing Partner, Southern Corridor. Mungunda was commenting on the significant number of suspensions and dismissal of CEOs in the country, especially over the last two years.
THE University of Namibia has reportedly been paying delict lecturer Lot Haifidi a full salary, whilst aware that Haifidi only taught two classes the entire year. Student at the university claimed that they have no assessment for the work that they did in the first trimester of year.
“He has not given us any tests or assignment to do, so we have no assessment marks right now” one student said.
NAMIBIA’S courage to stand up against the European Union (EU) and refuse to sign the Economic Partnership Agreement (EPA) is admirable but unsustainable, given its comparatively vulnerable situation. These are the views expressed by Henning Melber in his recently released report “Namibia and the Economic Partnership Agreement (South African Foreign Policy Initiative, SAFPI, Brief No.39).
DEPUTY Minister of Foreign Affairs Peya Mushelenga says democracy in Zimbabwe has matured and the atmosphere of Wednesday’s elections was calm and tolerant. Speaking from Harare on Thursday morning, Mushelenga said that since his arrival in Zimbabwe on 18 July he had visited five provinces and observed peaceful campaigns, where all citizens were free to attend rallies. He added that there were not really any incidents of violence and that the voting process was fast and smooth.
THE National Housing Enterprise (NHE) may have circumvented its own rules when it sold a house at Ongwediva to the Deputy Minister of Safety and Security, Erastus Uutoni, in May this year. The NHE’s own guidelines do not allow it to sell houses to people who earn more than N$20,000 a month. The corporation will also not consider applicants who already own houses as well as corporate institutions (e.g. companies, close corporations, trusts, etc.) for an NHE housing loan.