Bank of Namibia caps mortgages for second homes

WINDHOEK—Home buyers in Namibia will have to put down larger deposits for second and subsequent properties, the central bank said this week as it aims to rein in speculative buying. Property prices in fast-growing cities such as the capital Windhoek and tourist town Swakopmund have risen sharply in recent years as demand outstrips supply in the southern African nation. Home loan applicants will be required to pay a sliding percentage of the purchase price or…

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"Bank of Namibia caps mortgages for second homes"

Inside the Belly of the SME Bank Beast

“Corruption is a manifestation of human greed. Those who make themselves guilty of corruption will be shown to the public. Most of us want no corruption, but there are those rotten apples. Corruption must be rooted out at all levels, and rooting it out in the initial phases will save everyone a lot of trouble,”— (Dr Hage Geingob 2016) Windhoek— The holder of the shares in the SME Bank on behalf of the Namibia Government…

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"Inside the Belly of the SME Bank Beast"

Namibia: Independent but not yet mature

Windhoek—Visitors to “the land of wide open spaces”, as Namibia is successfully promoted to tourists, will be impressed by what they see. Besides the beauty of the nature and abundant wildlife, the urban face of inner cities appeals to foreigners who treasure security and comfort amid the wilderness. Namibia contributes a positive image to Africa. It ranks among the continent’s top five in governance and other performance related surveys. But beyond the surface of the…

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"Namibia: Independent but not yet mature"

Inside Sven Thieme’s independence diary

Sven Thieme, is Executive Chairman of Namibia’s largest employer in the private sector and trusted brand, the Ohlthaver & List (O&L) Group, and President of the Namibia Chamber of Commerce and Industry (NCCI), reflects on the past 27 years and shares his excitement on the prosperous future that awaits Namibians. WINDHOEK—The O&L Group has enjoyed tremendous successes these past 27 years and the journey has been nothing short of amazing! Many businesses were created, re-engineered…

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"Inside Sven Thieme’s independence diary"

Swapo 8 and Mandela Kapere differ on unity

In this month of March 2017, we (Dr Elijah Ngurare, Cde Armas Amukwiyu, Cde Job Amupanda, Cde Desmond Amunyela, Cde Sydney !Ganeb, Cde Imms Nashinge, Cde Vaino Nghipondoka, Cde Eddie Kafita met in Windhoek. We did this fully aware of the recent history of disunity amongst us, disunity in SWAPO Party and disunity amongst the youth of SWAPO Party; and Inspired by the generational call to wage a successful struggle for economic independence. In particular…

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"Swapo 8 and Mandela Kapere differ on unity"

President off to Swaziland

President Hage G. Geingob will this Saturday leave for Swaziland to attend the one-day Southern African Development Community (SADC) Extraordinary Summit of Heads of State and Government. The SADC Extraordinary Summit on industrialisation will discuss the Report of the Ministerial Task Force on Regional Economic Integration, within the framework of the Regional Indicative Strategic Development Plan (RISDP). Minister of Industrialisation, Trade and SME Development Immanuel Ngatjizeko is representing Namibia on this important occasion. Dr Geingob,…

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"President off to Swaziland"

Defending President Hage

Many Namibians are blaming President Dr Hage Geingob for economic failure. But I am not surprised. Some of the Namibians painting him a bad image are the ones that clearly introduced their mandate that they are against his government since 2013 saying oshilongo itashi lelwa komukwanghala (a Damara must not be the head of the country). According to my recent research, Namibia did not create any recession or the financial crunch. The financial crisis hitting…

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"Defending President Hage"

SME BANK: How NOT to steal a Bank

The Pty Cabinet did not approve of Windhoek-Former Trade and Industry Permanent Secretary Andrew Ndishishi (pictured) has denied dribbling past the Namibian Government to steal the SME Bank, a supposedly State investment initiative with an estimated value of N$1.4 billion. As the President is now mulling an independent investigation into how Ndishishi, who was then permanent secretary in the ministry of trade and his three allies ended up being the owners of a 65 percent…

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"SME BANK: How NOT to steal a Bank"

Reserve Bank Governor defies President Hage

…As it emerges government no longer owns the SME Bank Namibia’s SME Bank minority shareholder Enock Kamushinda (pictured) will this week return N$40 million of the N$189 million he borrowed from the Windhoek-based lender and invested in a South African bank, as President Hage Geingob battles to control his Reserve Bank Governor Iipumbu Shiimi over the handling of the matter. As a shareholder, who invested N$35m to get a 35 percent stake in SME Bank,…

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"Reserve Bank Governor defies President Hage"

Kashuupulwa secures China deal for regional solar

Oshana Regional Governor Clemens Kashuupulwa recently returned from an engagement trip to China, half a million rands richer. Kashuupulwa secured funding from FISHCOR and China Jiangxi International Pty Ltd amounting to N$500 000.00 for the implementation of community solar energy projects in the region. “The aim of trip to China was to source business relationships from our technologically progressed counterparts and we believe we have done that as can be seen by the Solar Project…

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"Kashuupulwa secures China deal for regional solar"