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Author: Donald Matthys

Omaruru residents collects 1500 bags of trash

Close to a thousand learners, teachers and residents in Omaruru collected 1 500 bags of recyclables in three sections of the town. Bank Windhoek’s Omaruru branch staff members collaborated with the town’s municipality and residents in a clean-up campaign themed: Reduce, Recycle and Reuse. “Such campaigns are essential to keep Namibia clean, and to spread the message of no to littering, yes to recycling. If we want a cleaner Namibia, we need to spread the message to our youth – our future residents and leaders,” said the clean-up campaign organiser, Raymond Spall. He said that the campaign was a...

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Land minister proposes tax rate decrease in both commercial and communal land

The Minister of Land and Reform Utoni Nujoma last week proposed for the approval for the Land Tax to 0.4% from its current 0.75% for locals and 1.4% from its current 1.75% for foreign nationals for the first piece of agricultural land owned. Speaking in the National Assembly, Nujoma further proposed that the progressive rate of land tax for additional farms owned by the same owner to remain the same as before at 0.25% in either case. Nujoma said that the need for a decrease in land tax is together with the objectives of having instituted Land Tax as...

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Inflation remains unchanged at 5.4%

The annual inflation in August remained unchanged at 5.4%, the lowest rate of price increases since January 2016. IJG research stated that on a year on year basis (y/y), four of the twelve basket categories rose at a quicker rate in August than in July and that this was offset by slower rates of inflation in 6 categories, while the rate of inflation in two categories remained unchanged. Prices for goods rose by 3.4% y/y while prices for services increased by 8.1% y/y. “Low inflation, coupled with subdued economic growth in South Africa and Namibia, provides both central banks...

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Instalment credit on vehicle sales remains sluggish

Instalment credit, which is mainly used to finance vehicle purchases, has slowed considerably despite the fact that instalment credit increased by 0.5% month-on-month (m/m) in July, this followed six months of consecutive m/m declines, bringing the annual growth to -1.4% year on year. According to IJG Research Namibia, the Private Sector Credit Extension (PSCE) growth figures prove testament to waning consumer and business confidence and an already stretched consumer as instalment credit remains sluggish. Meanwhile, new vehicle sales of 1,094 units were recorded in August, with sales falling by 19.9% from the 1,366 new vehicles sold in August 2016....

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‘Free to Fly’ exhibition and auction to take place at FNCC

The Franco Namibia Cultural Centre will present the opening of a colorful exhibition for charity that will display the talents of students and artists friends of the Barbara Böhlke Art School, on 29 September. The group which has an age range from 6 to 80, donated over 100 paintings around the interpretation of the theme ‘Free to Fly’ that will be exhibited from 29 September to 19 October. The entrance is free. The artworks will be on sale at a very affordable price, while 10 paintings by well-known artists will be auctioned. The event is made possible by contributions...

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B2Gold launches ‘Re-Wilding the Future’ concept

There has been a dramatic decline in the productivity of farmland in Namibia over the past century – a result of bush encroachment and the loss of perennial grasses. This has been exacerbated in the past few years by drought and in the years ahead, the situation is likely to deteriorate further as the impacts of climate change become more severe. In efforst to try and alleviate the situation, B2Gold’s Managing Director, Mark Dawe announced and presented a ground-breaking initiative in parternship with the Namibian Chamber of Environment (NCE). The two will spearhead, a potential public private partnership (PPP)...

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Chamber of commerce calls on government to widen tax base

The Namibia Chamber of Commerce and Industry (NCCI) called on the government to widen the tax base to include businesses that are avoiding paying tax by hiding their correct income. According to the NCCI there a number of businesses, mostly foreign owned that do not provide tax receipts, with some refusing electronic bank transfers which often create a suspicions trail. The Chamber feels that the government is struggling to increase tax revenue because the tax base is not wide enough. NCCI added that the government appears to be quick to punish tax payers who fail to pay on time...

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Paratus offers faster internet while preserving historical landmark

With the ever-evolving technological realm and upgrades in internet speeds, Paratus Telecom together with its subsidiary Canocopy, this week unveiled a new look Long-Term Evolution (LTE) tower at one of Windhoek’s oldest landmarks, the Old Power Station. An LTE network generally sees data speeds that are up to 10 times faster than the current 3G network. In April 2016 Paratus Telecom launched its 4G mobile data service across 33 base station sites in Windhoek and with the deployment of the LTE mobile data service, Paratus added another facet of its service towards its growing customer base. Paratus Managing Director,...

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