insert_link Business / Economics 15 August 2024 Morning Biz News: Welwitschia Sovereign Wealth Fund Doubles in Value; Rand Gains on U.S. Data; Oil Prices Rebound Welwitschia Sovereign Wealth Fund Sees Remarkable Growth The Welwitschia Sovereign Wealth Fund, launched in 2022, has nearly doubled its value, rising from N$260 million to N$440 million. Central Bank Governor Johannes !Gawaxab noted that the Fund has consistently outperformed its benchmark, the Norwegian Government Pension Fund Global, demonstrating strong performance and growth. South African Rand Strengthens On Wednesday, the South African rand appreciated to 18.05 against the US dollar, marking […] todayAugust 15, 2024 13
insert_link World Trump fails to get hush money trial judge to recuse himself Donald Trump has failed for the third time at having the Judge overseeing his New York hush money case to recuse himself. The former US President is set to be sentenced next month after being found guilty of falsifying business records to influence the outcome of an election. Here's Mitch McCann reporting: todayAugust 15, 2024 9
insert_link South Africa In S.A, Action Society has expressed grave concern over the high number of unsolved criminal cases In S.A, Action Society has expressed grave concern over the high number of unsolved criminal cases. Since 2018 over 76-thousand murders and 40-thousand attempted murders remain unsolved, along with 61-thousand-740 rape cases and 256-thousand aggravated robbery cases. A shortage of eight-thousand-500 detectives and 527 voluntary resignations from the Police Service have exacerbated the issue. Action Society's, Juanita du Preez criticised the police's lack of specialised personnel and the impact of […] todayAugust 15, 2024 5
insert_link Business / Economics Bank of Namibia Reduces Repo Rate to 7.50%…. The Bank of Namibia announced a reduction in the repo rate from 7.75% to 7.50%, marking a shift after a series of rate hikes that began in February 2022. As a result, commercial banks’ prime lending rate will decrease from 11.5% to 11.25%. Cirrus Capital economist, Robert McGregor. todayAugust 15, 2024 15
insert_link Namibia Evangelical Lutheran Church in Namibia Elects First Female Bishop, Reverend Hilja Nghaangulwa The Evangelical Lutheran Church in Namibia made history by electing Reverend Hilja Nghaangulwa as its first female bishop. Nghaangulwa, who was previously Acting Head of the Eastern Diocese, received 51 votes, defeating Reverend John Haufiku, who garnered 23 votes. She steps into the role following the retirement of former Bishop Shekutamba Nambala and the passing of bishop-elect Martin Ngodji. Additionally, Reverend Gideon Niitenge was elected as the new bishop of […] todayAugust 15, 2024 29
Namibia RISE Mzansi says South Africa’s unemployment rate is a ticking time bomb RISE Mzansi says South Africa’s unemployment rate is a ticking time bomb that needs to be addressed urgently. Some 8.4 million people are now unemployed in the country, and more than 76-percent of these people have been without a job for more than a year. RISE Mzansi’s spokesperson, Gugu Ndima, says stabilising and growing the economy and creating living wage-paying jobs is one of the most important responsibilities for the […] todayAugust 14, 2024 13
insert_link Uncategorized Namibia Press Agency and Public Workers Union Finalize 5% Salary and Benefits Increase for 2024/25 The Namibia Press Agency and the Namibia Public Workers Union have signed an agreement securing a 5% salary increase for staff within the bargaining unit, effective from 01 April this year. The agreement, covering the 2024/25 financial year, also includes a 5% increase in both housing and transport allowances. Nampa’s CEO, Linus Chata, announced the deal, highlighting it as a significant step in promoting a positive and collaborative work […] todayAugust 14, 2024 6
insert_link World US says it’s hopeful of ‘turning the temperature down’ in the Middle East The US says it's hopeful of 'turning the temperature down' in the Middle East amid fears of an Iranian retaliatory strike on Israel. US Secretary of State Anthony Blinken has postponed a trip to the region this week due to "uncertainty" there. But President Joe Biden says he believes progress towards a ceasefire between Israel and Hamas could deter Tehran from attacking Israel. Iran insists it has the right to […] todayAugust 14, 2024 11
insert_link Namibia New Dairy Scheme Aims to Boost Local Production and Reduce Imports The Agriculture, Water and Land Reform ministry has launched a dairy value chain development scheme to support 60 existing dairy producers across the Otjozondjupa, Omaheke, Hardap, and Zambezi regions in 2024/25. The initiative, which includes subsidies on production stock, veterinary medicine, and equipment, aims to build a modern, self-sustaining dairy industry in Namibia. The scheme seeks to reduce reliance on dairy imports by integrating small-scale rural producers into the national […] todayAugust 14, 2024 9
