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Finnish parliament establishes Namibia Friendship Group

Namibia Economist - Mar, 27/09/2022 - 4:36pm

The Finnish parliament has established a Namibia Friendship group which aims to strengthen the collaboration between the Finnish and Namibian parliaments and to further the economic, cultural, and other liaisons between the countries.

The Friendship Group will be chaired by Finnish parliament member of Parliament Ville Valkonen, who has a personal connection with Namibia.

“I have spent my childhood in Namibia and my wife is Namibian. Namibia is a well-developed and peaceful African country. It is the only nation from sub-Saharan Africa that has an Embassy in Helsinki,” Valkonen said.

Valkonen said Europe should cooperate more with the global South in order to support democratic and constitutional development processes in these countries. He said Africa has huge potential for investment and trade and many critical strategic natural resources.

”Finland has a lot to offer to Namibia, for example in terms of governance development and education cooperation and Namibia has a lot to offer to Finland as a stable gateway to Southern Africa,” Valkonen said.


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Categorie: Namibia

Financial and gaming digital fraud on the rise in Namibia

Namibia Economist - Mar, 27/09/2022 - 4:00pm

The rate of suspected digital fraud attempts from Namibia in the second quarter of 2022 increased by 36% compared to the same period last year, in contrast to a -14% decline shown globally.

This is according to TransUnion’s quarterly fraud analysis, which shows that the rate of suspected digital fraud attempts originating from Namibia decreased across several sectors, but showed significant year-on-year increases in the financial services and gambling sectors.

TransUnion’s data on fraud against businesses is based on intelligence from billions of transactions and more than 40,000 websites and apps contained in its flagship identity proofing, risk-based authentication, and fraud analytics solution suite, TransUnion TruValidat.

The local insurance industry that saw the biggest increase in the rate of suspected digital fraud attempts was financial services, which saw a massive increase of 229%. The other industry to see a big increase in the rate of suspected digital fraud coming from Namibia was gambling, which increased by 179%.

The global insurance industry saw a suspected digital fraud attempt rate increase of 159% in the quarter under review, while the global logistics sector increased by 13%.

“In recent years, we’ve seen fraudsters shift their industry focus each quarter. At this time, we believe the insurance industry is seeing more ‘soft fraud’ because some consumers may be representing their policies incorrectly in an effort to save money, especially in a high inflation environment that places more pressure on their wallets,” said Shai Cohen, senior vice president of global fraud solutions at TransUnion.

TransUnion observed the largest declines from Namibia-based transactions in travel and leisure (-39%), retail (-9%), and communities, which includes online forums and dating sites, at -9%.

Globally, industries seeing the largest declines in the rate of suspected digital fraudulent activity from Q2 2021 to Q2 2022 included gaming (-63%), travel and leisure (-28%), and retail (-28%).


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Categorie: Namibia

Cybersecurity a concern for ICT Ministry

Namibia Economist - Mar, 27/09/2022 - 2:54pm

The Ministry of Information and Communication Technology (MICT) received a courtesy visit from representatives of Salt Essential IT, led by Sonja Coetzer their Managing Director, to discuss the progress made thus far on the cybersecurity awareness campaign.

MICT Executive Director Dr. Audrin Mathe said they will continue to collaborate with Salt essential to create a safe online environment and foster a culture of cyber hygiene in citizens to avert cyber-related crimes.

Coetzer indicated that nine sessions have been hosted with the ministry thus far and the team is hard at work developing the materials targeting various stakeholders.

The two entities met in July and signed a Memorandum of Understanding on the National Cybersecurity Strategy and awareness campaign, which was endorsed by Cabinet.

The objective of the Cybersecurity Strategy and Awareness campaign is to empower the public with the knowledge and skills to make informed decisions when faced with a potential cyber-attack.

The campaign targets employees of government officers, ministries and or agencies, regional councils, local authorities, school learners and teaching staff, and the general public.


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Categorie: Namibia

Trustco drags central bank to court

Namibia Economist - Mar, 27/09/2022 - 2:28pm

Trustco Group Holdings and its subsidiary Trustco Bank Namibia are taking the Bank of Namibia to court in a bid to review several directives and decisions issued by the Bank.

Trustco in a statement announced that it filed the case in Windhoek High Court on Friday, 23 September 2022.

Trustco claims that during the last two years of correspondence between Trustco Bank, Trustco Group Holdings, and the Bank of Namibia, the central bank has denied Trustco the opportunity for its bank to enter full commercial banking operations, even after the group offered to capitalise on the bank’s balance sheet by a further N$1 billion.

Trustco claims the Bank of Namibia’s directives and opinions were unconstitutional.

In the case that they lodged, Trustco Bank and the Trustco group are also claiming that sections of the Banking Institutions Act of 1998 are unconstitutional, as they violate the constitutional prohibition of unfair discrimination and Trustco Bank’s right to carry on its business.

Trustco group managing director Quinton van Rooyen says article 101 of the Constitution compelled the parliament to take into consideration economic growth when it enacted the Banking Institutions Act.

He further claimed that the hiatus created by failing Namibian banks established after Namibia’s independence has left the majority of the Namibian banking sector under foreign control

“This results in a significant barrier of entry for a 100% Namibian-owned start-up bank like Trustco Bank to successfully enter the banking industry. Such a barrier to entry results in a loss of control for Namibia over its local economy,” van Rooyen added.

Reacting to the announcement, Bank of Namibia spokesperson Kazembire Zemburuka said that the central bank would defend its regulatory actions.

“The financial system remains stable and sound due to the effective regulatory and supervisory framework in place which fosters a world-class financial system,” Zemburuka stated.


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Categorie: Namibia

Cohen Fistball Club continues dominance on the turf

Namibia Economist - Mar, 27/09/2022 - 2:11pm

Cohen Fistball Club (CFC 1) successfully defended the National League A title at the Bank Windhoek Fistball Playoffs on Saturday, 24 September, at the Sport Klub Windhoek (SKW 1) fields in Windhoek. Boosted by home turf advantage, hosts SKW 1 won the National League B championship. SKW A and B won the Under 16 and 13 categories.

In the top-class final between CFC 1 and 2, the former started well and quickly secured a three-point lead. Rico Kühnle-Kreitz kept the second Cohen team in the match with his services. Nevertheless, CFC 1 kept a cool head in the decisive moments and won the first set.

The encounter became even more exciting in the second set because neither team could break away from the other. With a score line of 15:14, the set finally went to CFC 1. In the third set of intense encounters, CFC 1 kept its club mates at bay and won again, thus securing the championship as in the previous season without losing a game.

In the National League A semi-finals, CFC 1 defeated the Swakopmund Fistball Club (SFC 1), 3:0. CFC 2 made history in the second semi-final, qualifying for the League A final for the first time. With 3:0, CFC 2 won against SKW 3 with a 3:0 score line. Spiker Rico Kühnle-Kreitz strengthened the team.

SKW 1 won the semi-final in the National League B by beating SKW 2. The guests from SFC 2 lost the second semi-final against CFC 3, 2:3, and missed the final. SKW 1 was the dominant team in the final. They won the League B final against CFC 3, with a 3:1 score line.

In a gripping Under 16 league final, SFC A and SKW A gave it their all. The spectators were showered with remarkable fistball at the highest level. SKW A won the championship in the five-sets thriller with a 15:14 in the final set and thus a 3:2 victory.

In the Under 13 category, SKW B won ahead of SFC A, SKW C, and SKW A. Youngster Marko Russmann from SFC 2 and SFC A were named Player of the Day. Tamara Grögli played a crucial role in SKW’s Under 16 and League B’s success and was named the Youth Player of the Day.

Next on the fistball calendar is the Cohen Tournament, which takes place on Saturday, 15 October in Windhoek.

Meanwhile, before the playoffs, the extended men’s squad met for two training camps, which were used for the preparation and trials of the men’s National Team. Namibia will be taking part in the World Cup in Germany next year.


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Categorie: Namibia

Young marble sculptor’s work on exhibition at The Village Garden Cafe

Namibia Economist - Mar, 27/09/2022 - 2:07pm

A pop-up of marble sculptures is now on display in the garden of the Village Garden Cafe in Liliencorn Street, Windhoek.

These artworks were made by Kambezunda Ngavee, a contemporary marble sculptor, in the early stages of his career. Ngavee recently completed an artist’s residency at the Nirox Foundation in South Africa.

Helen Harris from the StArt Art Gallery said Ngavee’s work is also featured in the exhibition ‘Indifference’ hosted at the Nirox Sculpture Park.

“The artist’s sculptures are often anthropomorphic, blending human and animal while hinting towards topical social concerns and issues in Namibia and globally,” said Harris.

Ngavee received his Diploma in Visual Art in 2017 from the College of the Arts and that same year he participated in the Ge Pellini Marble Sculpting Project for the Hunters United Against Poaching Trust.

He has participated in a number of group exhibitions such as the Tulipamwe International Artists Workshop in 2018 and he has undertaken several workshops including one led by the well-known stone sculptor Dorte Berner.

His first solo exhibition ‘Set in Stone’ was held at the Franco Namibian Cultural Centre in 2018 and he has been an active member of the WHUDA Marble Art team since March 2019. WHUDA was established in 2018 by Winfried Holze and they make use of locally mined marble stone and focuses on creating high-quality sculptures as well as transferring skills to budding young stone sculptors.

All sculptures are for sale, and available to view at The Village Garden Cafe.


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Categorie: Namibia

World Tourism Day celebrated – Consented efforts and adopting workable business models to boost sector required: official

Namibia Economist - Mar, 27/09/2022 - 1:33pm

The Ministry of Environment, Forestry, and Tourism (MEFT) believe the time is now to transform the future of local tourism and build a sustainable and inclusive sector to the benefit of the majority of people.

This was highlighted by the MEFT deputy minister, Heather Sibungo at an event in Omuthiya to celebrate World Tourism Day 2022 on Tuesday.

“This will require consented effort and adopting workable business models best suited for our challenges, as we cannot go back to the old ways of working or doing business! We must indeed “Rethink Tourism”, she added.

According to Sibungo, in recent years the tourism sector has been recognized by the government as an important economic sector and a critical tool for sustainable development as highlighted in the 17 Sustainable Development Goals.

“Tourism is one of the backbones of Namibia’s success story. Namibia has the necessary framework conditions for the tourism sector to continue growing exponentially and through that contribute to, local economic development, employment creation, community empowerment, and poverty alleviation. These elements are key development priorities for the Namibian government,” she stressed.

According to her, the World Tourism Day 2022 celebrations come at a time when the tourism sector is recovering from the social and economic impact of Covid-19.

“The decline in international tourist arrivals recorded in the previous two years; 2020 and 2021 respectively, is a major shock for developed economies. However, Namibia continues to experience from late 2021 to the second quarter of 2022, a growing trend in tourism arrivals,” she said, adding that this is a positive outlook.

Meanwhile, Sibungo said Namibia’s conservation success stories stand out top of the World!

“The government will continue to make effort to create a conducive and enabling environment for all the stakeholders to participate and to grow the sector from strength to strength. I call on the communities, to partake in tourism and take advantage of the heritage tourism product development in the rural areas to benefit our people,” she concluded.

Namibia will host the annual Tourism Expo from 03 to 05 November 2022, at the SKW Field in Windhoek. The 3 days event will bring about the needed synergy and revival of domestic travel after the Covid-19 pandemic outbreak.


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Categorie: Namibia

Gondwana golf day auction raises N$180,000 for charity

Namibia Economist - Mar, 27/09/2022 - 1:14pm

The second fundraising golf day organised by Gondwana Care Trust on 23 September managed to raise N$180,000 through an auction, a statement from the organisers said.

The Gondwana event was held in conjunction with DZ Golf and brought wine tasting to cheerleading and gin and tonic refreshments at different holes.

Trustee of the Gondwana Care Trust, Quintin Hartung said they are very grateful that so many companies and individuals immediately and enthusiastically agreed to participate and co-sponsor the golf day for the benefit of the less privileged members of the Namibian society.

“Their contribution will go towards charitable projects that aim to make a difference in our fellow Namibians’ lives,” added Hartung.

Hartung further explained that the fund will be used for social initiatives such as the MealForTwo and the Back-to-School Christmas Bag Project, which include the donation of food, education products, and stationary for schools, as well as the support of important environmental causes.

(l-r) The winning team ‘The Late Entries’, Dignity Moyo, Michael Hoeseb, Justine Shikulo, and Monty Rukoro.


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Categorie: Namibia

Ndegapo named Namibian Boerewors Champion

Namibia Economist - Mar, 27/09/2022 - 11:45am

The winner of the famous Shoprite & Checkers Namibian Champion Boerewors Competition, Martha Ndegapo walked away with a Shoprite & Checkers shopping voucher to the value of N$150 000.

Ndegapo was announced as the winner at a grand event held at Maerua Mall in Windhoek. A total of N$300 000 in Shoprite & Checkers shopping vouchers was handed over.

“Thank you so much for this opportunity. My life will never be the same again,” Ndegapo
said after being announced the winner.

Fioline Kamavei took second place and was awarded a N$ 100,000 Shoprite & Checkers shopping voucher. The third place went to Emily Tjitunga, who received a N$50 000 shopping voucher.

Sanet Prinsloo, the facilitator since the inception of the competition alongside the Namibian Chefs Association, says the competition truly changes people’s lives.

“Once again the Shoprite & Checkers Namibian Champion Boerewors Competition has enriched the lives of Namibians. Year after year we receive more and more entries and the overall quality of the recipes is great. We are ready to do it all again,” Prinsloo said during the event.

In celebration of the new 2022 Champion Boerewors, the Shoprite group has announced that the winning boerewors will be available at all Shoprite & Checkers outlets nationwide at a special price of N$99.99/kg. This promotion will run until 2 October 2022.

Last year, competition owner Shoprite & Checkers partnered up with NOVA 103.5, Coca-Cola, Top Score, NamChefs, and Tafel Lager to make this competition possible.

3rd place winner Emily Tjitunga, Shoprite Group Namibia representative Arno Malan, 2022 Champion Boerewors winner Martha Ndegapo, Sanet Prinsloo competition facilitator, and 2nd place winner Fioline Kamavei.


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Categorie: Namibia

King Tee Dee rocks at Unam

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Burna Boy brings the heat

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Paratus declares another 10 cents dividend

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Minimum diamond stake proposed for Namibians

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Sousa debuts MMA fight night

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Africa takes stock of ocean conservation

The Namibian - Mar, 27/09/2022 - 12:00am
Categorie: Namibia

Eswatini, Namibia talk environmental sustainability

Namibia Economist - Lun, 26/09/2022 - 4:15pm

Officials from the Eswatini Environmental Fund (EEF) last week concluded a visit to its Namibian counterpart where they discussed the possibility of future agreements geared toward ensuring environmental sustainability.

In their discussions, the EEF and the Environmental Investment Fund of Namibia (EIF) emphasised the importance of protecting the environment and how to ensure the citizens of the two countries use their resources productively.

The sessions provided a platform for the two institutions to network and engage on the opportunities and challenges pertaining to their respective institutional set-ups with a view toward documenting best practices and lessons learned.

The two entities also emphasised the need for EEF and EIF to form a partnership so that the shared resources can be mutually beneficial. The head of the delegation of the EEF stated they are here to learn from Namibia because EIF is better resourced and better managed – and it is one of the best examples to learn from, further urging that Africans do not always have to go outside the continent to benchmark.


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Categorie: Namibia

Chamber of Commerce spotlights concerns in the way of economic growth to Parliamentary Committee

Namibia Economist - Lun, 26/09/2022 - 4:13pm

The Parliamentary Standing Committee of Economics and Public Administration led by its Chairperson
Natangwe Ithete is on a fact-finding mission to towns in the Oshikoto, Oshana, Omusati, and Ohangwena regions.

At a meeting on Sunday with the branch leadership of the Namibia Chamber of Commerce and Industry (NCCI) the country’s national business sector representative body again used the opportunity to spotlight concerns standing in the way of economic growth.

Although applauding the implementation of a credit guarantee scheme by the government, NCCI feels more can be done to relax collateral and security requirements against loans. Pointed out that by doing so enterprises will be better placed to swiftly access much-needed loans for working capital, to fund asset and stock needs.

The Chamber also feels that government should explore with the financial services sector, more creative funding mechanisms tailored to the specific needs of Namibia’s enterprise sector. Not just copy-and-paste products from South Africa.

Growing security and the inactiveness on the part of the police to respond swiftly to reports of criminal activity, and to stem the smuggling of goods, including liquid fuel, from neighbouring countries, was another concern expressed by NCCI.

The Chamber also highlighted its concern about a skewed investment promotion strategy of government that favours foreign investors and ignores the importance of domestic investment.

NCCI feels that the decentralization of services is long overdue and cited the operations of the business regulatory authority BIPA as an example, lamenting that access to much-needed services adds to the cost of doing business, especially for small enterprises in towns and villages across Namibia.

NCCI also bemoaned the fact that it is taking far too long for changes to be ushered in that will make Namibia’s business landscape conducive for local entrepreneurs to start an enterprise and to position the already existing firms for growth.


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Categorie: Namibia