Walvis Bay Municipality tables N$887 million 2024/25 capital budget
By Adolf Kaure.
The Chairperson of the Walvis Bay Municipality Management Committee, Richard Hoaeb recently tabled a capital budget of N$887 million for the 2024/2025 financial year. A significant portion of the budget, which constitutes an amount of N$173 million (38%) has been allocated to land development projects.
“I can assure you that the Council remains steadfast in its commitment to land delivery, which serves as a cornerstone for investment, prosperity, and job creation. In alignment with our objectives and public-private partnership initiatives, I am pleased to share with you a list of ongoing land development projects undertaken by the Council of Walvis Bay.”
“These projects are crucial for driving economic growth and enhancing the quality of life for our community,” said Hoaeb.
From the total land development budget, N$11.1 million was budgeted for the development of Farm 37 (Main), N$21.8 million for Portion 11 and N$22.8 million for Portion 10.
Together portions 10 and 11 of Farm 37 will yield 727 erven of which 677 are residential.
N$48 million was budgeted for the development of Narraville Extension 8 and is expected to yield 225 erven of which 194 erven are residential.
N$10 million has been budgeted for the development of Meersig Extension 3 and is expected to yield about 96 erven of which 86 are residential.
The Deputy Mayor of Walvis Bay, Saara Mutondoka said that the new budget continues to demonstrate the Municipal Council’s determination to improve service delivery to the town’s residents.
“The budget is our town’s primary policy document. It reflects the Council’s priorities and states many of the Council’s goals and objectives in enhancing the quality of life for all our residents.”
“I would also like to thank the staff of the Municipality of Walvis Bay who worked hard this year to compile budget reports. Your commitment is admirable,” said Mutondoka.
The rest of the capital budget includes N$N$42 million (8%) allocated for service delivery-related projects, while N$104 million (23%) is for infrastructure repair and replacement, N$35 million (8%) for social projects and N$91.5 million (20%) for vehicle replacements and additions.
Front facade of the Municipal Building in Walvis Bay (Photograph by Adolf Kaure)
THE OPERATIONAL BUDGET
Expected revenue for the new financial year is estimated at about N$566 million while expected Expenditure has also been recorded at N$566 million.
About 70% of total estimated revenue is obtained from utility services and related service charges of which the primary are water sales, property rates and taxes, refuse removal services and sanitation services.
Tariff adjustments on these items were proposed for this financial year. Considering the average annual inflation which is 5% and considering the anticipated increase in service provider tariffs, the utility services tariff has been proposed at 5% for water and 2.5% on sewerage, refuse, rates and taxes.
