Capricorn Asset Management’s Chief Economist, Floris Bergh said their short and medium term inflation forecasts are largely unchanged, following the release this week of the monthly and annual inflation figures by the Namibia Statistics Agency.
Annual inflation for November stood at 2.5%, down by 50 percentage points from October’s 3% reading. Capricorn’s forecast of 2.6% is only 10 percentage points away from the actual reading. Given the slightly weaker inflation outcome, Capricorn has now shaved their year-end number from 2.9% to 2.8% but still believes that it will be the first step in a gradual increase.
“The 2.5% for November should constitute the bottom. So inflation is likely to tick up from here,” Bergh said in a short assessment on Thursday.
Factors he sees as potentially leading to a faster than expected increase in inflation are the prices of maize, meat and residential property. Other upside risk factors are the rate at which local authorities increase their rates and taxes, the increase in so-called sin tax, a currency blow-out and another oil price shock.
Still, Bergh cautioned that any unexpected increases would have to be quite “nasty” to exceed what they see as the ‘High Seasonal Pattern.’ In this scenario, headline inflation will still only reach 5.4% by June next year.
The historically low inflation should allow the Bank of Namibia to reduce interest rates, an outcome which Bergh deems possible by February next year.
“Our view is still that the Bank of Namibia should be able to lower interest rates in the current economic malaise, i.e. that inflation considerations ought not to be of major concern. In fact, we expect the next cut in interest rates in February 2020,” he said.
Namibia is currently hosting the annual global ‘Step2Walk’ Foot and Ankle Outreach Conference’, where local and international surgeons receive academic and practical training.
The event which kicked off on 9 December will conclude 13 December. The conference will help at least 20 Namibians receive surgical treatment, free of charge at the Lady Pohamba Private Hospital.
Dr. Jacques Heinrich Jonck, Orthopaedic Surgeon and Program Host said this year he has identified 40 state patients with complex foot and ankle problems that need surgical treatment, but they only have the capacity to treat 20 patients surgically during the year’s programme.
“The rest of the patients will have to wait for next year and with the help of local implant companies and the generous support of the Lady Pohamba Private Hospital, I will attempt to treat at least one patient per month for the remaining 20 patients, next year,” he explained.
He further said that he personally followed up on last year’s patients post operatively until complete recovery and testified for the positive change it made in their lives.
“Surgeons are hand picked to attend the conference and all of them have special skills that they are willing to offer free of charge to local patient community and at the same time teach the Southern African Orthopaedic foot and ankle community,” said Jonck.
Patricai Hoeksema, Group Manager: Corporate Relations at Ohlthaver & List (O&L) said through their vision of being a catalyst for positive change, the O&L Group, together with all the other sponsors for this conference proudly support this noble cause. “We celebrate the success of last year’s events and look forward to see even more live changed through this life changing program, going forward,” she added.
Dr. Mark Myerson, Executive Director and Founder of ‘Steps2Walk’ said during last year’s outreach program, 18 Namibian state patients with crippling deformation received surgical treatment fro the international faculty, together with local medical officers in Orthopaedic surgery at the Lady Pohamba Private Hospital. “All of these patients had complex problems and are part of the state health care system and under normal circumstances would not have had access to this type of treatment,” he emphasised.
Step2Walk is a non-profit organisation that reaches out to patients with foot and ankle pathology in under privileged communities around the globe.
Telecoms operator, Paratus with operational offices in six African countries, became the first telecoms operator to bridge Africa from East to West.
The company has now implemented additional routes for redundancy and is in the process of an aggressive rollout plan, building even more routes across the region to ensure maximum uptime for clients using this route.
The company reported in August 2019 that it had finally completed a terrestrial East and West coast of Africa connection between the WACS undersea cable in Swakopmund, Namibia and Dar es Salaam, Tanzania. Paratus is the first Operator to bridge the African continent, linking the East and West coast of Africa (outside of South Africa).
Paratus Group COO Schalk Erasmus says the route extends 4160 kilometres and is fully operational under one single Autonomous System Number (ASN) and boasts a Round Trip Time (RTT) of 62ms.
“Connecting land-locked countries, that do not have access to undersea cable systems, with much-needed capacity is critical to ensure that we leverage the infrastructure investment we have made across the African region,” he explained.
Paratus is currently in the process to complete the Maputo link, which will not only connect into the Trans-Kalahari Fiber (TKF) route which already extends through various countries in SADC, but will also be the second East to West Coast route completed by the operator after completion of the initial route from Dar es Salaam, reported in August.
“Africa is a continent with countless opportunities, and we believe that we need to harness this potential to see more growth across the continent. It is evident that investment in infrastructure does show growth in the economy and are inextricably linked,” he concluded.
Local visual artwork to feature at Museum of African Art in Belgrade next year – Artists invited to submit work
Local artwork from visual artists is set to be exhibited at the Museum of African Art in Belgrade, Serbia in March next year, according to the National Art Gallery of Namibia, (NAGN).
The artwork focusing on the growth of arts and craft in the country will be selected from visual artists of all ages who have since been invited by the is a state-owned art gallery to create artworks themed around art and craft in a pre-independence and post-independence Namibia.
“As part of celebrating our 30th Independence celebration, and in remembrance of all our artists who through their creativity could voice a message of hope for an independent Namibia, we thought it befitting to have an exhibition that acknowledges the good work that was done, and look forward to what the next couple of years have to offer the Namibian nation,” they added.
NAGN added that artists are encouraged to reflect in their submissions on issues such as the future of Namibian Art, the artist role in this society and a reflection on the past 30 years.
The following is artists criteria for submission : Be over 18 years of age; Namibian citizen/ Artist Domocile in Namibia/Permanent residents of Namibia; Technical excellence in the work created; Conceptual development; Critical engagement with the topic; Submission process; a maximum of three artworks, with an artist’s statement of at least not less than 150 words is to be submitted at the National Art Gallery of Namibia and a completed entry forms (including price if work is for sale)
According to the gallery, artworks that will be going to Serbia should be not more than 20kg in weight and not more than 1.5m * 1m.
Meanwhile all submissions are subject to a selection by a panel and submission for artwork is 24 January 2020 .
The work that will be submitted and selected will be exhibited in Belgrade as well as at the National Art Gallery of Namibia.
Nine more students from the Namibia Institute of Mining and Technology were recently taken on board the Kraatz internship programme, to be groomed in preparation for the working environment by further developing their knowledge and skills.
Specializing in Boiler-making, Welding, and Fitting & Turning, the interns will do their job attachment at Kraatz to gain practical experience necessary for the job market, and get exposure in the Industrial & Mining Division, Workshop, and also in the Marine & Offshore Division where they are exposed to the ship repair industry. Students on the program are mentored and coached by Master craftsmen in the engineering sector, both locally and internationally.
The students are; Immanuel Nghidimondyila; Herman Uugwanga; Oscar Mwifi; Silas Amutenya; Vilho Shihepo; Elias Sheefeni; Pinehas Tobias; Maxwell Diergaardt and Shaun Titus.
“The Kraatz internship program continues to grow from strength to strength. This program forms an integral part of the Kraatz journey of being a catalyst for positive change in a country where skills shortage appears to be one of our significant challenges. We are also dedicated to adding value locally, and skills development is our contribution,” said Kraatz Manager: Human Capital, Roberto January.
Kraatz, a subsidiary of the Ohlthaver & List Group, has invested in the skills development of 121 students from the Namibia Institute of Mining and Technology since the introduction of its internship program in 2011.
Caption: Kraatz Manager: Human Capital, Roberto January and Kraatz Operations Manager, Kobie Potgieter with some of the students.
Sage Smoke (Beauty Boois) will be present her first floetry Extended Play (EP), titled ‘Heal’ which she will release on Thursday.
Sage Smoke said her EP is a blend of poetry and rhythm, a mixture of poems that flow over a beat, a mixture of floetry and alternative R&B soul.
“I created this EP to facilitate my personal self-healing journey through a series of affirming messages with an easy going positive vibe,” she explained.
She highlighted how happy and grateful she is to share ‘Heal’, with everyone who is on their own healing journey.
Heal features vocals by local poet Ashwyn Mberi as well as instrumentals by Lau, on guitar and Ray on keys, which are all produced by DJ Loudima Dreamer. While, visuals which include a music video for track one, Melanin Mantra, were filmed and directed by Namafu Amutse, photographer and videographer and the art work for the cover by Kristen Montaruli a US Based Visual artist of Krittle Kat edits.
When asked about her creative process and inspiration, Sage Smoke says that she created this EP to facilitate her personal self-healing journey through a series of affirming messages with an easy going positive vibe.
Meanwhile, she is happy and grateful to share ‘Heal’ with everyone who is on their own healing journey.
By David Adetona.
The Khomas Regional Council’s Windhoek East constituency has once again demonstrated that it remains at the forefront of driving self-employment in its community when owners of income generating projects recently received equipment or material worth N$150,000 as part fulfillment of the government’s promise of assistance to citizens in accordance with job creation strategies in all the constituencies.
The beneficiaries received material or equipment such as an electric generator, a chest freezer, a steel ladder, a welding machine, safety construction helmets, gazebos, tents, a braai cookware set, plastic cooler boxes, chairs with tables and many other items to support poverty alleviation or employment creation in the constituency.
The projects that received assistance include catering, plumbing, tourism, bread bakery, butchery, construction and hospitality businesses that are based on self-employment and at the same time give employment to others.
The beneficiaries all agreed that the provision of material or equipment in support of small upcoming entrepreneurs, women, men and youth, is a contribution in achieving a secured livelihood and empowerment of communities or an effort to find solutions to those individuals who do not quality for loans at financial institutions for small projects or business. All the beneficiaries were grateful and acknowledged the value of the Council and the constituency office’s assistance and support to the growth of income generating projects.
Presenting the items to the beneficiaries, the Windhoek East Councillor, Joyce Namuhuja said that the auspicious occasion of yet another handover of equipment to various owners of income generating projects is the eighth time since the inception of the programme in the constituency.
She pointed out that a large section of the country’s most disadvantaged population is engaged in small scale businesses and the government fully recognises the vital role that small businesses or projects can play in social and economic development to improve the living conditions of people at all levels.
In a similar vein, the Councillor added that the Income Generating Activities grants in the form of material or equipment given to community-based economically viable projects, uplift their existing small business activities with a view to become big, sustainable and competitive Namibian companies.
The Councillor encouraged all the beneficiaries to work hard and be productive to achieve the anticipated goals of job creation and poverty alleviation for the benefit of society.
Caption:(left to right). Lineekela Kaxuxuena from Ebbenlee Investment, Peyavali Uukunde from Peyavali Rental Company, Councillor of the Windhoek East constituency, Hon Joyce Namuhuja, Lea Namoloh from Exquisite Bread and Alex Dawid Strauss from Strauss Braai at a recent ceremony where the Councillor presented the beneficiaries with an assortment of equipment and material as part of the constituency’s Income Generating Activities grants. (Photograph by David Adetona).
Team Namibia, the mobilisation force in support of and in the interest of Namibian business, is acutely aware of the current developments and calls for decisive action. A recessionary environment, corruption scandals, acute election fever, followed by post-election uncertainty, have a direct impact on business.
In an uncertain environment, businesses find it hard to thrive, or indeed to survive. Not only are small businesses affected but also the larger corporations, and all those dependent on a successful business community.
Team Namibia calls for decisive action to be taken by the Namibian Government with regard to tackling corruption. It not only undermines the efforts to secure sustainable economic development, but it is counter-productive to national efforts of poverty eradication and achieving a more equal society, and prosperity for all.
Even though all citizen are affected, the poor are bearing the brunt even more. Stealing of national wealth and resources and squandering of tax payers’ money, and therefore limited access to effective services for Namibians, undermine every effort to maintain and secure a peaceful and prosperous future for all.
In this regard, Team Namibia calls for the following:
• Transparency in government must be secured at all times;
• Public decisions to be based on fairness and accountability;
• Although the value of adhering to systems, processes and institutions in a democratic society is clearly recognised, every effort should be made by our leadership to ensure that legal processes are sped up;
• Investigations need to take place to determine if and where systems have been manipulated by individuals, networks or organisations for illicit gains.
• The Anti-Corruption Commission must be effectively resourced immediately to speed up all investigations, independently, also in order to address possible negative perceptions of our government and our country, domestically and internationally, to rebuild trust and instill confidence.
“We need to ask ourselves, do we want to be a prosperous nation? High level of uncertainty has a direct impact on consumer spending and business investment. It is critical that immediate and concerted action is taken to resolve some of these issues. We simply can not just be bystanders and observe the current developments, we have a responsibility to our children to leave them a nation we can be proud of.”
Pieter van Niekerk, chairperson of Team Namibia.