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Home Explore EZINE 27 September 2018

EZINE 27 September 2018

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WINNING NUMBERSNEWS BUSINESS SPORT 1 35920636 115 6 35925438 115CRISES OF GRAVY TRAIN THE ROCK 6 35929272 115FACTION AT TRANSPORT READY TO 6 35931698 115CRIPPLE SOEs RUMBLE 2 35935801 115 P 08 P 03 P 20 REMINDER THESE 5 NUMBERS APPEARED IN LAST WEEK’S INFORMANTÉ. IF YOU HAVE ONE OF THE NUMBERS, THEN YOU ARE A WINNER.www.informante.web.na • 061-275 4700 Find us on Your Community NEWSPAPER • 27 September - 03 October 2018 • Edition # 648 NEW DAWN FORA school, making provision for pre-primary, primary and Kruger also emphasized that and a nursery and is expected to ing Elisenheim estate.higher education, is the latest addition to the lifestyle expe- the school will give preference be concluded towards the end of According to Kruger the focusrience of the more than 3 500 residents of the picturesque to learners from Elisenheim and next year.Elisenheim Estate just outside Windhoek. surrounding areas. “Of course it will remain on high quality retail should relieve some pressure on The three-phase commercial and educational services that will Property Reporter a massive erf of 16.8 hectares of other schools and create exciting development will maintain the enhance the quality of life, safety land earmarked for the project. and new opportunities to the next pristine natural look and atmos- and comfort of its more thanElisenheim Property Develop- generation.” phere that the residents became 3 500 residents, and therefore, ment Company (EPDC) this According to the COO of accustomed to. potential developers will have toweek issued an invitation of an operations and development of “It also flows from an earlier de- meet the highest standards andexpression of interest to interested EPDC, Schalk Kruger, the school cision to establish the Elisenheim Kruger said negotiations are well understanding of the Elisenheimparties for the design, construc- initiative follows from various village centre in cooperation with underway to sign up tenants to project.tion, finance, maintenance and approaches for the establishment Oryx Property Limited. Construc- operate the centre.operation of the three schools on of school facilities for all grades tion will start very soon. It will Interested parties and potential on the prime and dynamic lifestyle give access to retail food outlets, The addition of the school from partners should contact Schalk estate. office space, pharmacies, a gym crèche to secondary is a commit- Kruger at 264 81140 7348. ment towards the continuous and [email protected] dynamic growth of the fast grow- 9.N$ 99 COMBO 52N$ .99 Pies Pota+t+oBuOBtneteisortnnBu3utyk3g7kkBggaBgPaogcket Stewing Beef PER KG Assorted ALL FOR 78N$ .9928/09/2018 - 30/09/2018 PER KG N$100 Championship WEEKEND VALUE! Boerewors Valid at all SHOPRITE outlets, while stocks last. WE RESERVE THE RIGHT TO LIMIT QUANTITIES

2 NEWS 27 September - 03 October 2018wDoaunbtslebmaiul rder suspect Failed twice trying to kill himself Eba Kandovazu bar in Katutura with Johanie Naruses, MURDER SUSPECT 29, and Clementia de Wee, 23, after ATTEMPTED SUICIDEAFTER spending two years in custody which he allegedly shot them. A WALVIS BAY man currently on trial for the alleged murder of his girlfriend wasfor allegedly murdering two women, found in a pool of blood after he cut his wrists in an apparent failed suicide attemptdumping their bodies at a dump site The indictment further alleges that shortly after his alleged crime in 2014.and setting their bodies alight, Lukas he dumped the deceased bodies at aNikodemus, 48, now wants to be refuse site in Windhoek’s Pionier- Eba Kandovazu at the Raft Restaurant on the Walvisgranted bail, the High Court was told spark, before setting them on fire in an Bay waterfront. Petrus allegedlyyesterday. attempt to defeat the course of justice. This was the testimony of Freddie blindfolded her with a cloth before Amamub, a detective, who was one shooting her. Petrus’ Lawyer, His lawyer, Mbanga Siyomunji, told A security guard the following of the first people to arrive at the Mpokiseng Dube, however, toldJudge Christie Liebenberg that the morning discovered the smoldering scene. He testified on Tuesday at the Judge Alfred Siboleka that on thenecessary documentation is in place remains. Nikodemus previously Windhoek Court that the suspect, fateful day, the deceased was in factfor the official bail application. It has confessed that he was romantically Jomo Petrus, was immediately the one who got hold of the gun tosince been scheduled for 3 October. involved with the deceased persons at taken by paramedics to the hospital, kill Petrus. He also said that she wasNikodemus’ case was recently trans- the time of their deaths, even though with the deceased, Louise Alupe, accidentally killed, as the accusedferred from the lower courts to the he denied killing them. who he reportedly shot in the head. had no intentions of killing her.High Court by the Prosecutor General. He also indicated that he would It is reported that after killing Petrus pleaded not guilty to the He, in January 2016, allegedly left a deny being present at the time of their Alupe, Petrus initially turned the murder charge, although he admit- deaths when his trial kicks off on 22 gun on himself but it malfunctioned, ted guilt to the second charge of October before Judge Petrus Unengu. leading to him cutting his wrists. theft of a firearm. He admitted that Amamub testified that the incident he stole a family member’s gun,From Rock occurred in November 2014, at with whom he had been living with FAILED: Jomo Petrus. Independence Beach in Walvis Bay. for 14 years. Photo: Contributed Mining & 8% Crushing The 30-year-old Petrus was Petrus is currently out on N$4 employed as a fisherman. Alupe at 000 bail. The trial continues, with the time of her death was employed State Advocate Salomon Kanyemba prosecuting. Air Namibia fraudsters referred to regional court Burning 10% Eba Kandovazu 41% Burning THE Prosecutor-General, Martha Imalwa on Wednesday ordered that Grinding 22% the three people who attempted to steal over N$1,4 million from Air 19% Packaging Namibia to appear in the Windhoek Regional Court. to Product WINGS CLIPPED: Tangi Namwandi and Penna Munyunda. Penna Munyunda, an employee of Photo: Eba Kandovazu Air Namibia’s finance department, PRODUCED IN NAMIBIA TO WORLD-CLASS STANDARDS CEMENTING TRUST, BUILDING FUTURES as well as Tangi Namwandi and cannot be accounted for. The trio is warded to the Clerk of that court. Marx Mahoto were arrested late last expected to appear in the Regional Defence lawyers Sisa Namandje,NAMS/EN197 year when Standard Bank alerted Court on 24 October. The complete Air Namibia that Munyunda has record of proceedings is to be for- Christian Nambahu and Jamelle requested money, the payment from Janke are representing the suspects. the Namibia Airports Company, to be paid into a different bank account. Following the alert, the airline issued an internal audit into the finance department confiscating computers, which led to the arrests. Prosecutor Marcus Angula indi- cated that investigations have been completed. The three men are cur- rently out on N$50 000 bail each. The bail conditions involve report- ing to the investigating officer every Monday and handing over their travelling documents. It is the State’s allegations that N$190 000 of the N$1.4 million www.formulacourier.com Passion. Swiftness. Consistency… We are the Formula to an urgent package needing fast, safe and efficient delivery to a doorstep anywhere in Namibia and the rest of Southern Africa. Call us today on 061-302583 to have our experienced and customer-centric drivers deliver your parcel faster than the recipient expects it. BRANCHES: Windhoek • Keetmanshoop • Mariental • Ongwediva • Rundu • Walvis Bay • Swakopmund Grootfontein • Otjiwarongo • Outjo • Tsumeb

27 September - 03 October 2018 NEWS 3CRISES OF FACTIONWorkers affected by top echelon infighting Finance MinistryCRIPPLE SOEs accountant accused of corruptionFOLLOWING the stalledwage negotiations as a Niel Terblanche In addition, she alleg-result of apparent ongo- edly utilised the fraudulenting infighting between THE 43-year-old Etienne PSEMAS card at variousthe TransNamib Board Coetzee, a chief account- doctors, hospitals andof Director Members ant at the Ministry of pharmacies between 2015and top management, Finance appeared in court and 2017 for benefits total-the illegal strike has this on charges of corruption ling N$138 000,” he said.week been called off and fraud along with theafter an agreement was 30-year-old Rosa Sindy Becker said the accusedreached by the workers Beukes after spending a persons were arrested onand TransNamib Chief night in police custody. charges of contraveningExecutive Officer (CEO), the Anti-Corruption Act,Jonny Smith. In a statement by the Act No. 8 of 2003 (cor- Head of the Directorate of ruptly use public office orNiel Terblanche & Investigations within the position to obtain a gratifi-Marthina K. Mutanga Anti-Corruption Com- cation), and contravening mission, Nelius Becker, section 35(3) (utilisingA group of employees of the DESERTED: Windhoek station.  Photo: Marthina K Mutanga Coetzee and Beukes, who documents that containsnational carrier downed tools is an employee of Business falsifications in order toat the start of the week and started to operate and all engi- that the board is busy fighting Partners International mislead)handed petitions to people in neers have reported back to work each other instead of listening to Namibia, were arrested onlocal management structures at on Wednesday,” she said. the concerns of the workers. 25 September in respect Both of the accusedvarious towns in Namibia, at of allegations that the persons appeared in thea time when TransNamib is in After learning about the strike, “The board is not talking to chief accountant provided Windhoek Magistrate’sthe process of implementing a Smith issued a special address to each other in TransNamib. How his co-accused with a Court on 26 Septemberturn-around strategy, with Board all staff, alerting staff mem- can they find time to respond PSEMAS medical aid and the case was remandedmembers nearing the end of their bers that their planned strike is or hear out the employees who card and registered her on to 7 December for furthercontracts that are due to expire unlawful. He also stated that in have not gotten a salary increase the PSEMAS system as a investigation.this month. order to reach the great mile- for over three years?” he asked. government employee. stones that the state-owned com- The accused persons The rail company’s spokes- pany has set for itself at a critical Kwedhi added that the com- “Beukes was never em- were granted bail of N$10person, Ailly Hangula-Paulino, stage, all staff members need pany has also failed to imple- ployed by the government. 000 each while the inves-confirmed that the strike was to be especially dedicated at ment its business plan in the last tigation into the matterillegal under the Labour Act No. everything they do when bring- few years. continues.11 of 2007.  ing customer and stakeholder confidence back to TransNamib. year and stalled wage negotia- “TransNamib has been operat- “TransNamib Holding em- tions this year due to the much ing without a business plan andployees reported back to work “Management has learned that reported governance issues. In then they craft one but they haveon Wednesday but Otjiwarongo, this unlawful industrial action is order to bridge the gap between not implemented it. How doTsumeb and Windhoek locomo- due to no salary increment last the Board and Management, the you think that will not affect thetives were still at a standstill Minister of Works and Trans- workers?” he said.due to the strike. The rest have port held a meeting between the Board and CEO at the line Ministry’s offices on 20 Septem- ber 2018,” he said. He also said TransNamib has a long-standing recognition agreement with the Namibia Transport and Allied Workers Union (NATAU) as the sole legitimate bargaining agent for the employees. NATAU Secretary-General, John Kwedhi, however, blasted the board mem- bers for being at fault, sayingFarmers accused of bypassing laws in Angola CAUGHT: Etienne Coetzee and Rosa Sindy Beukes. Photos: Contributed Maria David forced to revoke the grazing of started from our liberation WARNING: Ohangwena region- animals in their country if Na- struggle, and I am appealing al governor, Usko Nghaamwa.THE Angolan government has mibians continue to violate the to you to stop forthwith your Photo: Contributedaccused Namibian livestock neighbouring country’s laws. alleged involvement in criminalfarmers living close to the Na- activities while grazing your tunhu, Olupale, Oshimholo,mibia-Angola border of illegal The meeting also heard that the cattle in Angola at the mercy of Omamwandi, Omukulukila andgrazing, mining, timber harvest- Namibia-Angola Joint Commis- their government,” Nghaamwa Okalonga.ing, fencing off communal land, sion on Safety and Security last warned.child labour and poaching in the week held a meeting in Lubango, They are also accused of usingneighbouring country. Angola, where Angolan mem- He added that the Angolan children of school-going ages bers of the commission strongly authorities are fed up of the from Angola to look after their This was revealed by Ohang- condemned ongoing illegal graz- continuous uncalled for behav- cattle and of self-appointed vil-wena regional governor, Usko ing of Namibian cattle in their iour of Namibians grazing their lage headmen.Nghaamwa, while addressing country. livestock in their country and assome 221 livestock farmers such, an eviction of Namibianfrom Namibia who are now It is believed that hundreds of herders and their cattle in thegrazing their cattle in the south Namibians have been grazing near future is likely.of Angola, at a meeting held their livestock in Angola sinceat Omundaungilo village in 2010, immediately after those Some of Namibian livestockOhangwena. from the former Owamboland owners told the same meet- were chased away from the ing that some Angolans have Nghaamwa convened the meet- Kavango West Region. already started threatening theming after a team of officials from by harassing herders or seizingthe Namibian embassy based at The governments of Namibia their cattle when it is realisedthe southern town of Angola, and Angola, Nghaamwa said, that they do not have properOndjiva, on Wednesday travelled have no legal grazing agreement documents to take their cattleto his office to inform him about and each Namibian herding into Angola.the latest accusations levelled cattle in Angola is doing so atagainst local farmers. own risk. Namibians are said to graze their cattle up to a distance According to Nghaamwa, the “You are only grazing your of more than 200 kilometresAngolan government will be cattle in Angola because of the into Angola and Omamanya, historic bond and peaceful rela- Omuuva, Ohambongo, Oka- tions between our two countries SUMMER Style No: Style No: Style No: Style No: 51932 51929 51940 51957 2018 GREEN CROSS LADIES SANDALS 7 Independence Ave, Ausspannplatz, Windhoek

4 NEWS 27 September - 03 October 2018NNDC JOINS INTERNATIONALCOASTAL CLEAN-UP CAMPAIGNTrustco Group Holdings’ North-ern Namibia Development Com-pany (Pty) Ltd (NNDC) partneredwith the Ministry of Environ-ment and Tourism to join over100 other countries in fulfilling a30-year-old tradition of collect-ing and documenting the trashlittering our coastlines. Staff ReporterThis tradition, dubbed the International SUPPORT: Staff of the NNDC during the clean-up. (RIGHT) Johan van Rooyen hands over a donation to Joshua Kazeurua of the Ministry of Environment andCoastal Clean-up, takes place every yearin September and NNDC supported the Tourism to assist with the clean-up operation. Photos: Contributedspecific initiative that took place in the Skel-eton Coast National Park this year.  “Thisinitiative is in line with our mission to carryout our operations in an environmentallysustainable manner so as to ensure a healthycoastline for future generations,” saidNNDC Head, Johan van Rooyen.Trustco donates blood NTB – AFRENCO ANNUAL TOURISMXCHANGE WEEK 2018, SOUTH AFRICA Maria David THE Namibia Blood Transfusion The Namibia Tourism Board is a statutory body established by the Act of Parliament, NTB Act No. 21 of 2000. One of its main mandates is to facilitate the adequate Services (NAMBTS) team on training of people engaged or to be engaged in the tourism industry in order to bring Monday visited Trustco Ongwediva the previously disadvantaged people into the mainstream of the Tourism Industry. office with the aim of collecting 20+ donations of blood. In fulfilling the above mandate, NTB hereby invites Tourism/Hospitality SME Operators to the Annual TourismXchange week that will take place in Gauteng and North West Currently, only 0.9% of the Na- provinces, South Africa from 02nd – 08th Dec 2018. Ten (10) Namibian SMEs from mibian population donates blood, the Previously Disadvantaged background shall be nominated to participate in this but 1 in 3 people will need blood at weeklong event. some point in their lifetime. World- wide the demand for blood rises Eligibility/selection criteria: and there is no known substitute for blood and it cannot be replicated 1. Must have a full registration status with the Namibia Tourism Board. due to its complexity. A total of 15 2. Must be a Direct or related Tourism Enterprise. Trustco Ongwediva staff members 3. Must already be in business and be operating for a minimum of 1 year. and customers donated at the office 4. Able to demonstrate growth potential by demonstrating proof of year-on-year first round blood donation drive. growth. Blood can be donated from the 5. Willing and able to share the costs of assistance. age of 16 up to 65, and the donor 6. Show proof of being owned and managed 100% by Previously Disadvantaged must weigh more than 50 kg, lead a safe sexual lifestyle and enjoy Namibian. general good health. 7. Those offering tours, at least 50% of the itinerary shall include using facilities and The donation will be screened services offered by other Previously Disadvantaged Namibian SMEs, and cultural and then divided into blood prod- aspects of Namibia. ucts, which are created from the pre-existing blood components in Costs www.namibiatourism.com.na your blood and given to patients based on their specific medical 1. Successful candidates shall arrange own travelling to and from South Africa on needs. One donation can potentially terms as set by NTB. save three lives. Katrina Basson, Chief Operating Officer for the 2. Successful candidates shall take care of own dinner Trustco regional offices applauded the initiative and encouraged the Book your space by filling-in the application form obtainable from NTB and submit employees to donate blood as it is a vital way to help save lives. together with company profile, proof of ownership and certified copy of valid passport before or on 12th October 2018 at 17:00. “Blood cannot be made, so dona- tions are the only way we can give For further details and coordination, contact Mrs Juliet Olivier at 061 290 6040 or blood to those in need,” added e-mail: [email protected] Basson.GOOD CAUSE: Trustco staff donating blood. Photo: Maria David www.namibiatourism.com.naA member of We have moved. Find us next to the cattle ring at the animal section of the Windhoek show. www.bankwindhoek.com.na

27 September - 03 October 2018 NEWS 5Girl has ‘new’ FINANCIAL WOES LEAVEStuck without foodandwaterbiological CREW STRANDEDfather THE crew of a ship, owned ship agency in Walvis Bay who took by an Indian company, has responsibility for the remaining crew Placido Hilukilwa been arrested by the Sher- members, payment for their services riff of Walvis Bay and the has not been forthcoming. Anchorage WHEN the Oukwanyama Com- impounded ship will be fees owed to Namport have also not munity Court jurors met at the sold on auction to recover been paid due to the Halani Group Helao Nafidi town on Wednesday, some of the money owed falling on hard times. they had before them one of the to the Namibian Ports most sensitive cases in the court’s Authority and other ser- Since April this year, the crew mem- history. vice providers situated at bers that remained on board informed Namibia’s main port. international shipping authorities, as The jurors met, in camera, at well as Namport, that they did not the Oukwanyama tribal office at Niël Terblanché receive regular resupply of drinking Ohangwena to view DNA test water and food and that the situation results showing who the actual The Halani 1, officially classified SUNK: The Halani 1.  Photo: Contributed was getting desperate. biological father of a 21–year-old as a diving support vessel and girl is. registered under the flag of the island Namibia to return home after they did cold-stacking rules set out by Namport The shipping agent said the crew nation of Saint Vincent and the Gren- not receive their salaries since Novem- and international maritime governing members on board the Halani 1 in Informanté contacted several adines, has been lying at anchorage ber last year. A skeleton crew of ten authorities. Walvis Bay expressed their desire to jurors and court officials who in the bay off the port of Walvis Bay persons were left on board to adhere to return home to India but will only do so were not prepared to reveal the since February this year. According to a representative of the after they receive their full outstanding identities of those involved. remuneration. This led to a situation The Master and some crew members where the skeleton crew do not have “The case is very sensitive. All have abandoned the ship since and left the correct work visas and other official I can tell you is that, yes, Case 10 documentation to live and work in of 2018 was finalised today. The Prince William touts Nam’s Namibian territorial waters. DNA test results were revealed conservation efforts and we now know who the Trust, although he also visited other you do not find in other parts of the Food and drinking water have been biological father of the girl is,” Eba Kandovazu conservancies. His visit is ahead of world such as the Black Rhino. We, provided by the Sheriff of the Walvis said Community Court secretary, however, need more cooperation to Bay Court since the vessel was im- Fedro Tuyenikomesho Petrus. a conference on illegal wildlife trade preserve and conserve this world herit- pounded. age,” Shiefeta said. “The girl has a new father. The THE Duke of Cambridge, Prince Wil- slated for October in London. A representative of the Halani man who was considered her Group, Kamal Aggarwal, informed the biological father up to today is liam, the eldest son of Prince Charles Upon his arrival, the Prince paid a relevant authorities during June this not her father. She was fathered year that they are making arrange- by someone else,” said one of the ments to pay the salaries for the Halani jurors on condition of anonymity. 1 crew and repatriate them but nothing has happened since. The case was a sequel to an alleged “dream” by a female In the meantime, the High Court of Swapokmund resident who Namibia issued an order on 14 Sep- claimed that she saw, “in a tember this year that the vessel must dream”, that the girl was fathered be sold on auction. by her husband. and the late Lady Diana, touched courtesy visit to Vice-President Nan- The unidentified girl, originally from the Ouhongo village in the down in Windhoek on a historic visit golo Mbumba at the Old State House. Ohangwena region, is staying with her aunt in Swakopmund. to Namibia where he discussed poach- Environment Minister, Pohamba It is alleged that a woman ap- ing and environmental issues, such Shifeta was amongst the dignitaries. proached the girl and revealed to her that she saw “in a dream” that as global warming, with the relevant The President, Dr Hage Geingob, was her husband was the girl’s biologi- cal father. local Government officials and other unable to meet him in person because The girl was eventually persuad- stakeholders. he is currently in New York where he ed to move out of her aunt’s house and to move in with her new On Tuesday, the Prince flew to the will be attending the 73rd Session of “parents”, sparking a protracted parenthood dispute. Hoanib River with Save the Rhino the United Nations General Assembly “Her biological father knew all and participate in the inaugu- along that he fathered the girl, but kept his silence for two decades in ral meeting of the High Level order to protect the child. He then used his wife to break the news Panel on Building a Sustain- claiming she had a dream,” said a village headman close to the case. able Ocean Economy. The Oukwanyama Community Prince William’s visit Court met several times since the beginning of this year to hear was effected by the private arguments and eventually decided on a DNA test whose results were charitable trust, the Charities revealed Wednesday, confirming that the girl was not fathered by United for Wildlife and Tusk the man who is married to her mother. Trust, of which he serves as President. The Trust spon- sors the protection of endan- gered species in Africa. He departed yesterday to Kenya and Tanzania. ROYALTY: Prince William, Vice-President “We are happy to note that Nangolo Mbumba and Environment Minister the international community Pohamba Shifeta.  Photo: Eba Kandovazu understands our conservation efforts. We have species that FEONRTRUENPERMENPELUORYESDHIGPRTARDAUINAITNEGSAdvanced Training and Consultancy (ATAC) invites interested unem- Method of Application shop which will be on first come, first ployed graduates of higher educational institutions to a two-day serve basis. Application forms are available at the ASSOCIATED BENEFITS: Training venue, ENTREPRENEURSHIP TRAINING • to facilitate soft skill training need- Head Office; 141 Kornalyn Street, Khomas- presentation, training support material, WORKSHOP-Phase 1 ed to be relevant in today’s global dal, Erf 450. Interested candidates can also morning & afternoon refreshments workplace; and register by sending their curriculum vitaeThe objectives of the workshop are: (CV) to [email protected]• to inspire a culture of entrepre- • to foster the acquisition of skills to start and manage small- and Tel: +26481 2333 801/+26481 3097 267 NB: All candidates get certificate & ATAC neurship and business innovation medium-scale enterprises among There are only 100 spaces for the work- t-shirt after 2 weeks. among the youth; unemployed youth. FEE: N$ 500-00 per Participant• to give hands-on training to unem- ployed graduates on employability Venue: ATAC Boardroom, Windhoek ”Spreading Growth, skills; Date: 18-19 October, 2018. Excellence & Advancement” Time: 9:00 a.m – 2:00 p.m each day

6 EDITORIAL 27 September - 03 October 2018 FROM THE NEWS DESK MERJA IILEKAThe cash cow thatis NSFAF THE two decades long lingering scandal tainting the PIC OF THE DAY Namibia Students Financial Assistance Fund (NS- South Carolina, USA; Maura Walbourne sat in a canoe looking in at her flooded home as David Covington waded through the wreckage in FAF) is now compounded by bad management deci- Conway, S.C., on Sunday. Photo: Jason Lee sions after it recently emerged that less money was brought in by the outsourced debt collector than was THEORY OF INTEREST DESMOND P VAN HEERDEN paid for the debt collection services. Last week, NSFAF CEO, Kennedy Kandume, an- UP THIS CREEK WITHOUT A PADDLE nounced that the student funding body is parting Every few months, Statistician- highlight here was the uranium well – 23.8%! This strong Wounded sailors during the ways with Tribesmen Investment after the contractor General Alex Shimuafeni and and diamond subsectors, which growth is the results of value of time of Admiral Horatio Nel- brought forth a measly N$6.8 million while it was the Namibia Statistics Agency showed growth of 62.3% and buildings completed increasing son were transported up Haslar paid more than double, a total N$14.7 million, as per release the newest quarterly 30.5% respectively. In both by 4.9%. Government expend- Creek in Portsmouth, to be contractual terms. GDP figures, and we find our- sectors this can be attributed iture on construction declined taken to the Royal Naval Hos- Kandume did not mince his words when he accused selves examining of our eco- to greater production, both in by 21.5%, however, compared pital to either recover or die. Tribesmen Investment of acting in bad faith, stating nomic performance, and seeing carats produced, as well as the to last year government ex- The ships moored, and wound- that NSFAF was left worse off on a net basis after get- precisely how far up this creek new uranium mine that came on penditure on construction that ed soldiers were transported ting in bed with the opportune debt collector. we are without a paddle. With board. Unfortunately zinc and declined by 68.1%, this is con- up via tramline, or ‘without a As tragic as this might sound, especially since Tribes- eight quarters of negative GDP gold production contracted by sidered a significant recovery. paddle.’ They were held pris- men was merely supposed to be paid a commission growth behind us, the ninth 3.1% and 21.6% respectively. Wholesale and retail trade, oner so they would not desert of what it managed to collect, this is but the tip of the held no suprises – the Namibian The manufacturing sector un- however, continued to feel the while being treated, but some iceberg. economy contracted by 0.2% in It is a massive failure of good citizenship and the ac- the second quarter of the year. fortunately slowed down dur- effect of negative econom- tried to by going through the countability that should be part of the fibre of corpo- Let’s see what this neck of the ing the second quarter of the ic headwinds, contracting by sewers to the salt Haslar Creek rate Namibia that many continue to exploit the student creek holds for us by examin- year, recording a contraction 5.8% during the second quarter, (where we also get the other or- funding body for their own benefit. ing the first quarter GDP re- of 12.5% compared to growth though it is up from the 11.4% igin, ‘up shite creek’). Without To make matters worse still, it sends students the mes- port. Starting with inflation, in of 9.8% during the same time contraction recorded last year. a paddle, however, this would sage that they too can get away with not repaying the this quarter it was only 3.8%, last year. This is the result of Hotels and restaurants found it- merely result in the men being funds they received to further their studies. down from the 6.3% recorded a 26% decline in value added self stuck with its reversing for- stuck, trapped and helpless. The entitlement of academically qualified students, during the same time in 2017. in the non-metallic minerals tunes, as it recorded a decline Well, after examining that data, many of whom are now earning a decent salary, is dis- The lower inflation was due subsector, as well as a decline of 2.6% this quarter compared it would appear that Namibia turbing and I cannot imagine that someone sleeps well to decreases in inflation for of 33.3% in the non-ferrous to a decline of 2.6% last year. herself is wounded, and bad- at night knowing that their actions, or lack thereof, housing, clothing and foot- metals subsector. Other subsec- The transport and communica- ly so. For the past two years, could have a negative effect on the future of prospec- wear and communications. tors, such as fabricated metals, tion sector at least remained in we’ve been transported to tive students who will also one day need funding. Inflation has finally been main- meat processing and beverages positive territory, with growth our own hospital, up the salt- The fact of the matter is that if defaulters do not step tained below 5% for two quar- recorded declines of 33.8%, of 1.9% compared to last year’s ed creek, and we neglected to up and settle their debts, the student funding body ters, the first time since 2015. 12.2% and 12.9% respectively. 2.5% growth. The financial take any paddles. We cannot will someday not be in a position to disburse funds to Next, let’s have a look at the The electricity and water sector intermediation sector contin- desert, as we have no paddles, needy tertiary students. different sectors of the Namib- at least showed positive signs, ued its slow growth, growing and as Namibians we cannot Even more disturbing is that those entrusted to find ian economy. The agriculture growing by 16.7%. This is with 0.5% compared to last afford to. But like the soldiers solutions and develop a turnaround strategy for the and forestry sector showed a due to the electricity subsector year’s 3.6%, with the banking in Nelson’s navy, we have but troubled parastatal are also milking the NSFAF gold- contraction of 1.1% compared growing by 17.5%, compared subsector contributing 0.1% two choices – recover or die. en cow, which still has not managed to account for the to 20.9% growth for the same to growth of 12.5% last year. growth and the insurance sub- We truly are up this creek now, close to N$1.8 billion it disbursed between 2008 and time last year. With crop farm- The main reason for this is sector contributing 1%. Final- and we’ve run out of options. 2013. ing easing to 10.7% growth the surge of locally-generated ly, the public administration, Apart from the infightings, for years there have been from 27.9% compared to the electricity from Ruacana Hy- defence, education and health Desmond P van Heerden, Hons- reports that the NSFAF board is having excessive prior year, and the livestock dro Power Station that reduced sectors still shows the effect BComm (Stell) is the Chief An- meetings and paying themselves millions in board subsector contracting by 6.9% the need for electricity imports. of government consolidation, alytics Officer of Trustco Group fees and privileges all the while failing to hatch a suc- compared to growth of 20.5% But after two years of contrac- with public administration Holdings Ltd. Previous articles cessful plan to ensure that the books of the student last year this quarter, it be- tions, the construction sector and defence growing by 1.2%, available online at http://toi. funding, which continues to be slapped with allega- comes abundantly clear that has sustained positive growth! with education contracting hopto.org/. He can be con- tions of corruption and financial mismanagement, despite a passable rainy season, And quite strong growth as by 6.2% and health by 4.9%. tacted at [email protected] look healthier. farmers decided to restock their After all the investment in knowledge, all the attempts dwindling inventories instead and commitments that good government principals of marketing their products. will be followed, the nation is still no nearer to a very As such cattle exports to abat- important function of funding students on a sustaina- toirs declined by 10.4%, while ble and responsible manner. cattle exported live to South Africa and Angola similarly EDITORIAL DISCLAIMER contracted by 22.6%. The fish- ing sector also found itself with• The newspaper’s views are not necessarily those of our advertisers a decline of 8% compared to a and the views aired in letters are not necessarily those of the decline of 4% last year, mainly newspaper. as a result of rising fuel costs and a decline in fish landings.• Informanté publishes all advertisements in good faith and cannot be Mining and quarrying, how- held liable for any misrepresentation, losses or injury to any reader ever, showed growth since the making use of the products or services advertised. start of the year, with growth of 22.4% compared to 19.6% dur-• Newspaper registration: 06/01/119 ing the same time last year. The• Printed by Word Press, Windhoek, Office +264 83 100 1000• 260 000 copies distributed monthly to all major Namibian towns ­• Headquarters: Trustco House, 2 Keller Street, Windhoek, Namibia• Contact: Tel. 061 275 4102/8 Fax. 061 275 4090 Email. [email protected]• Electronic: www.informante.web.na

27 September - 03 October 2018 EDITORIAL 7 SHOONPLYR!I!T!E Flipside Every Monday: CHRIS JACOBIEBugye1t 1BuFrregeer DIVISION DIVERTS 14N$ .99 NAMIBIANS have over the years developed a sixth sense about politics and are Lilets 8's pads 2 packs rarely wrong.SPECIAL UNTIL 30.11.2018 Their sixth sense was proven correct many times in the past and now again events demonstrate that internal upheaval cannot be supressed by artificial unity. Experience also has proven that engineered democracy is only a short-term solution to a specific challenge at a specific time. Although it served Namibian independence well over the past 28 years, engineered democracy does not and never will replace democracy by popular vote. The eventual destruction of the mighty apartheid National Party, the unravelling of the DTA of Namibia to a shadow of its former self, the ongoing court battles between OvaHerero traditional and political factions, the disempowerment of the Baster Com- munity and the near collapse and irrelevance of the Swapo-affiliated trade unions should serve as a lesson to those in denial that eventually it should be dealt with. The President, Dr Hage Geingob, and his team have a hard job pulling Namibia out of the mud of economic recession and in seeking solutions for some of the most pressing challenges Namibians face and still have to face. Additionally, Namibia assumed the Chairmanship of the SADC Region in the turmoil of internal political division and, rightly so, a lot is expected from President Geingob to provide leader- ship from which the whole region must benefit. To be effective in the national interest he must rely on the loyalty and efficiency of his comrades, but especially the assistance of party structures and affiliates. Swapo and leaders appointed by Dr Geingob should be the first to appreciate the close to 90% majority of Dr Geingob, because they benefit from any leader that is more popu- lar as the party as Dr Nujoma and Dr Pohamba have proven in their second terms. However, they are not suddenly more popular and influential. Namibia cannot afford leaders of self-interest on a crusade of obvious political survival. A nation beleaguered by economic hardship, rising living costs and fewer opportunities needs inspiration and transparency on every front. It will not happen if there are leaders in towns, villages and regions that strengthen the belief that behind the back of the top Swapo leadership, Swapo is battling itself on various fronts. Examples of mixed signals are plenty, but a few must serve as an example of what can be misunderstood. This week, the Ohangwena Governor, Uusko Nghwaama, surprisingly caught most off-guard with a warning to Oukwanyama subsistence farmers in the Ohangwena area that ageless traditional grazing areas in Angola are to be closed and that Namibian cattle are to be confiscated by Angolans. Nobody needs to be part of a meeting between Uusko Nghwaama and the Angolan government in southern Angola to realise that this must be an insensitive distortion of Angolan/Namibian-reality. Yes, it is known, and more or less common knowledge outside the air-conditioned offices of Windhoek, that Angola previously complained about Namibian cattle herders who are abusing the grazing lands of Angola by additionally developing mahangu fields and thereby depriving people of the grazing areas for long periods of time. What is also new and disturbing is that some Namibians are installing chiefs on the Angolan side which should rightly be stopped by both Namibian and Angolan authorities. Not long ago, the centenary of King Mandume Ndemafayo, one of a few exception- al men in the history of the world who was declared a national hero of two different countries – Angola and Namibia, was commemorated by the Ovakwanyama of both countries at Omhedi and Oihole. If there is a better example of good and fraternal brotherhood between two com- munities divided by a cruel colonial imposed border that is respected by both, the Oukwanyama of Angola and Namibia, it is yet to be seen. In another turn of events, an association of charismatic churches, whatever it is sup- posed to mean or represent, insisted that they be part of the powers of traditional au- thorities, because they “also work with the people.” In a Namibia that presumes that everyone should work for everyone, “to work with people” can hardly be a qualifica- tion to decide on land allocation. Churches took land away in history and are some of the biggest land and property owners in Namibia. Why should these takers now be trusted to be the fair distributors of land? There are church leaders who humiliated traditional leaders and practices like the recent Olufuko cultural festival, but now want to assist the leaders they despise in allocating land. It is just ridiculous and proves that there are too many outside government and political structures who want to rule without running the risk of elections and subse- quent rejection. With more than a year before the next presidential, parliamentary, regional and municipal elections, Namibians cannot help to experience a sense that emergency brakes have been applied to what always seemed an exciting national adventure towards transformation and inclusivity and still should be a journey to nationhood. The President and Chairman of the SADC region, Dr Hage Geingob, a long time ago, famously invented the truth that democracy is not cheap. He should have added that it also means that it can be costly if national trust is be- ing eroded by those in the party leadership that feel themselves exempted from the national leadership and good governance. For the sake of transformation and a better Namibia also, reckoning must also be inclusive.

8 BUSINESS 27 September - 03 October 2018BUSINESSMARKET RECAP WEEKLY market review GOVERNMENT FUNDSMinistry exceeded budget by N$532 million 19 September to 25 September 2018 GRAVY TRAIN AT TRANSPORT NSX STOCKS CODE PRICE % VOLUME VALUE MARKET CAP TO put a lid on avid spending, government has im- NAMIBIA BREWERIES NBS 45.04 0.02% 10 435 9 323 plemented its fiscal consolidation plan in the Finan- cial Year 2016/17, aimed at placing public finances on AGRA LTD AGR 1.50 - 10 15 153 a sustainable path. BIDVEST NAMIBIA LTD BVN 7.77 - - - 1 647DOWN UP NICTUS HOLDINGS - NAM NHL 1.80 - - - 95 LETSHEGO HOLDINGS - NAM LHN 3.98 - - - 2 000 NAMIBIA ASSET NAM 0.64 - - - 136 MANAGEMENT LTD NIMBUS INFRASTRUCTURE NUSP 11.00 - - - 116 LIMITED STIMULUS INVESTMENT SILP 121.29 - - - 564 LIMITED ORYX PROPERTIES LTD ORY 20.19 - 14 292 1 575 CAPRICORN INVESTMENT CGP 16.25 (0.85%) 276 4 502 8 401 GROUP FIRSTRAND NAMIBIA FNB 44.50 (1.12%) 120 5 280 11 792 LIMITED Zorena Jantze TRUSTCO GROUP TUC/TTO 9.51 (25.41%) 2 379 26 417 9 291 HOLDINGS LTD The ostentatious plan targets expenditure reduction on non-core operational expenditure items such as over-COMMODITIES PRICE % GLOBAL INDICES PRICE % time allocation, furniture, office equipment and vehicles, material supplies and subsistence travel for reallocationBRENT CRUDE OIL 81.87 3.59% NSX LOCAL 612 (0.26%) and postponement of nonproductive capital expenditure,GOLD 1 205.60 0.74% NSX ALL SHARE 1 324 3.40% especially the expenditure allocations for office build-PLATINUM 827.80 1.55% JSE TOP 40 50 923 0.89% ings for which no contractual obligations have been set. S&P 500 2 916 0.39%FOREIGN EXCHANGE PRICE % UK FTSE 100 7 508 2.84% State-Owned Enterprises are, however, yet to adhere to EURO STOXX 50 3 420 1.83% these policy measures instituted by Finance Ministry, asN$ PER US$ 14.35 (3.68%) HANG SENG 27 499 1.53% the Auditors-General audit reports for the Department ofN$ PER £ 18.92 (3.37%) Transport of the Ministry of Works and Transport totalN$ PER € 16.88 (2.85%) unauthorised exceeding the set budget by N$532 million. The local market stayed active 3.68% against the US Dollar, to In addition, the auditor-general’s report explains the THOROUGH: Junias Etuna Kandjeke, the Auditor-Gener- this week, with the NSX Lo- close at N$14.35 per USD, and Accounting Officer (AO) did not provide Treasury al.  Photo: Contributed cal index down 0.26% at 612, gained 3.37% against the British authorisation for the opening of the Trans-Kalahari Rail- and the NSX Overall Index up Pound, to close at N$18.92 per way Project bank account. as no actual expenditure was reported by the AO. An 3.4% to close at 1324. As at 25 GBP. It closed at N$16.88 against amount of N$143, 399 was, however, paid from mainte- September, FirstRand Namibia the Euro, a gain of 2.85%. The auditor-general’s report further stated that the nance expenses and other services and expenses for air was the largest local company Trustco Group advised sharehold- AO did not rectify this, which might lead to fraudulent tickets. on the exchange, with market ers that after receiving a mining transactions not being detected timely or at all. capitalization of N$11.8 billion, license, valid for 15 years, the The report further stated that the AO reported an followed by Namibia Brewer- Huso transaction, as amended, Furthermore, the AO did not provide bank statements opening balance for 4 252 vehicles with a total of N$1.4 ies with N$9.32 billion, Trustco has become effective and un- of the Northern Railway Extension Fund bank account billion as at 1 April 2016, which is not corresponding to Group with N$9.29 billion, and conditional, and the transaction and MWA – TransNamib holding LTD bank account the closing balance at 31 March 2016 as reflected on the Capricorn Investment Group with has closed on 31 August 2018. In with a 31 March 2017 deadline. Motor Vehicles Statement from the courage, which has N$8.4 billion. Namibia Brewer- terms of the transaction, the to- 4091 vehicles, translating to 162 vehicles with a value of ies lead the market with growth tal purchase consideration shall The report further stated that the Transport department N$590.3 million unaccounted for. of 0.02% to close at N$45.04 be payable by issue of shares, deviated from normal tender procedures. per share. In terms of volume and the initial issue has occurred The Auditor-General further requested that the Minis- Trustco Group lead the market on 21 September 2018, with an The report states that the Tender Board granted exemp- try of Transport explain these differences. with N$26.4 million worth of additional 143.3 million shares tion for acquiring air tickets which could not be procured shares traded, with FirstRand issued at N$4.69 per share. Fol- through normal Tender Procedures under the subsistence Touching on S&Ts, the audit found that out of 66 Namibia in second place with lowing this issue, Trustco Group and travel allowance account code. cases, 25 claims amounting to N$322.5 million were N$5.2 million worth of shares now has 970 442 090 shares in submitted after 30 days of return to the duty station. traded. The local currency gained issue. The audit found that the Department did not make use of the approved amount for the purchase of air ticketsLack of Rural Electrification holds back ICT tions that require the use of ICT facili- needed good health care delivery,” Protocol on Transport and Communi- primary goals of SADC. Zorena Jantze ties are in most cases cut off from a Sankwasa stated. cation and Meteorology aims to ensure Also speaking at the event, the chair necessary facility due to the non-avail- effective transport, communicationsTHE Deputy Minister of Works and able or absence of electricity power. He further stated that currently, and meteorology systems which are a of the senior officials committee onTransport, Sankwasa James Sankwasa, SADC has 26 Protocols, includ- prerequisite for economic growth and Transport and Meteorology statedsays that the achievement of ICT “This hampers effective use of online ing those that have not yet entered improved quality of life – being the that there are many important issuesnetworks in rural areas will remain a libraries for students and the much into force. He emphasised that the to discuss, some of which are verychallenge due to the non-availability technical, such as the SADC Aviationof effective rural electrification pro- TECHNICAL CONCERNS: SADC Ministers responsible for Transport and Meteorology, and ICT. Photo: Contributed Safety Organisation (SASO) Tripar-grammes. tite Transport and Transit Facilitation Program (TTTFP) and compliance of Sankwasa who was speaking on National Meteorological Services toTuesday, 25 September, during the ISO certification.second day of consultations heldby SADC Ministers responsible for The chair added that SADC is ap-Transport and Meteorology to discuss prised on the status of the implementa-progress made, as well as challenges tion of the programme and projectson the decisions that were made by that include the signing of the Charterthe SADC Ministers responsible for establishing SADC Aviation SafetyTransport and Meteorlogy in 2017, in Organisation, and the mid-term reviewMalawi. of the implementation of regional infrastructure Development Master Sankwasa stated that Rural-based Plan (RIDMP) short-term action planschools and other government institu- (STAP).

27 September - 03 October 2018 ADVERTS 9 SMES PROFESSIONAL REPUBLIC OF NAMIBIA SECRETARIAL SERVICES MINISTRY OF INDUSTRIALISATION, TRADE AND SME DEVELOPMENT CALL FOR APPLICATIONS The Ministry of Industrialisation, Trade and SME Development wish to recruit a suitably qualified person on a two-year contract in the capacity of a Project Coordinator (Consultant). 1. THE POSITION OF PROJECT COORDINATOR (CONSULTANT) The Project Coordinator is required to assist the Ministry with the setting up of a Charcoal Training, Research and Development Centre in Namibia. The assignment will entail developing a regulatory framework through the formulation and implementation of appropriate policies with the view to attract investments, increase trade, develop and expand the country’s industrial base. 2. QUALIFYING REQUIREMENTS Only Namibian citizens are eligible with preference given to previously disadvantaged groups. 3. JOB KEY PERFORMANCE AREAS Management activities leading to the setting-up of the Namibia Charcoal Training, Research and Development Centre including but not limited to: • Providing overall strategic planning and systematic co-ordination of project activities. • Prepare and monitor the Annual Work Plan and project budget • Manage day-to-day project implementation and outcomes. • Plan, organize and participate in the bidding for the selection of implementing partners/experts/ contract institutions for sub-projects. • Managing all technical and support services for the project • Manage financial and other resources for the project 4. QUALIFICATIONS B- Degree in Natural Sciences, Social Sciences Public Administration, Economics, Finance, Agriculture or Project Management 5. EXPERIENCE • Five (5) years in leadership/management position in government or private sector • Infrastructure development and project management • Sound financial management skills • Engagement experience with government Offices/Ministries/Agencies, donors and the business sector • Contract management • Procurement and supply chain skills • Interpersonal and HR management skills 6. REMUNERATION The ministry will pay the Project Coordinator a monthly salary totaling N$790,650.00 per annum inclusive of tax. 7. DURATION The position will be for a period of two (2) years based in Windhoek but with travelling in and outside Namibia as and when so required. 8. DELIVERY ADDRESS Interested Namibian candidates should submit their CVs with relevant certified documents including a well-motivated brief in sealed envelopes clearly marked and addressed to: Mr. Steyn L. Simasiku Procurement Management Unit (Chairperson) 8.1 Details on the envelop Bid Number: CS/ONB/19-01/2018 Project Coordinator (Consultant) Procurement Management Unit 8.2 Delivery office Ministry of Industrialisation, Trade and SME Development Brendan Simbwaye Square, Room number 416 4th Floor, Block B, Cnr Dr. Kenneth D. Kaunda & Goethe Street Windhoek 9. CLOSING DATE Applications must be received not later than 09 October 2018 before 12h00. Applications will be treated in the strictest confidence and no documents will be returned. Enquire: Steyn Simasiku Tel: 061 - 283 7207

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12 ADVERTS 27 September - 03 October 2018 ANNUAL FINANCIAL TRUSTCO BANK NAMIBIAINFORMATION FOR THE YEAR ENDED 31 MARCH 2018 Incorporated in the Republic of Namibia Registration number : 2008/042 Year ended Year ended Overview of the 2018 financial results 31 March 2017Statement of Profit or Loss NOTES 31 March 2018 NAD’000 NAD’000 Director’s report Financial results 2,766 The directors have the pleasure of presenting the The economy lost momentum, with listless growthInterest and similar income 3,769 (1,397) annual results for the year ended 31 March 2018. across most sectors. High interest rates coupledInterest expense and similar charges (2,526) Nature of business with high (and rising) inflation weighed on consumer 1,369 Trustco Bank Namibia Limited provides innovative spending. Layoffs in the agricultural, trade andNet interest income before impairment of advances 1,243 2 banking products, which promote economic develop- manufacturing sectors along with the recruitment - ment and cater for the banking needs of individuals freeze in the public sector contributed to a higherReversal of impairment losses on advances 1 1,371 in growing sectors of the Namibian economy. The unemployment rate, stagnating real income growth, 1,243 2,846 bank will operate primarily in the retail banking and along with a slowdown in credit demand. As a resultNet interest income after impairment 2 1,089 micro-finance sectors servicing individuals, families of slower growth in credit extended and increase inOther income 3 542 and entrepreneurs. operational expenditure the bank recorded a lossFee and commission income 235 (19,898) There has been no material changes to the nature of of N$ 27, 6 m. The largest contributor to expensesOperating expenses (30,265) (15,139) the company’s business from the prior year. Trustco can be attributed to further investment in Infor-Loss before taxation Bank Namibia has representation in Oshakati and mation technology, as the bank continues with theTaxation (27,698) - Windhoek, with its head office situated at c/o Keller implementation of electronic banking systems, cardLoss for the period - (15,139) Street & Eugene Marais Street, Windhoek. management system and other related cost relatedOther comprehensive income Share Capital to the enhanced PSD7 system. Apart from increasedTotal comprehensive loss (27,698) - Authorised share capital was increased to 200 000 salary cost, the bank incurred additional expenses for - (15,139) shares during the period by the way of a special reso- the related IT implementation team’s expenses for lution and N$80 million was raised through the issue accommodation and travelling. (27,698) 31 March 2017 of 80 000 shares to TGH during the year. Trustco Bank has during the past year delivered on its NAD’000 Going concern promise to continue with the Trustco Group’s strategyStatement of Financial Position 31 March 2018 The directors believe that the company has adequate regarding the financial inclusion goals and vision of NAD’000 5,307 financial resources to continue in operations for the old FIDES Bank. 12,033 the foreseeable future and accordingly the annual TBN has successfully launched its mortgage lendingAssets 33,387 35,604 financial statements have been prepared on a going product, which are aimed at the gap market. TheCash and cash equivalents 11,403 concern basis. The directors have satisfied themselves Ombala project is proof of the commitment to theTrade and other receivables 1 48,312 3,157 that the company is in a sound financial position and affordable housing in Namibia. Lending to microAdvances 14,932 that it has sufficient capital and liquidity to meet its and small-enterprises has also commenced andProperty, plant and equipment 1,773 71,033 foreseeable cash requirements. Trustco Bank was able to onboard a sizeable numberIntangible assets 33,625 The directors are not aware of any new material of clients from this sector. New advances for the 18,366 changes that may adversely impact the company. The reporting period grew by 65% net movement year onTotal Assets 128,500 10,169 directors are also not aware of any material non-com- year reflects 36% increase. The bank reported zero 4,924 pliance with statutory or regulatory requirements or of accounts in default. 33,459 any pending changes to legislation, which may affect Auditors the company. Deloitte & Touche Namibia 120,000 Company secretary 9,840 Komada Holdings (Pty) LtdLiabilities 4,493 (92,266) Notes to the summarised financial information For the year For the yearTrade and other payables 8,333 37,574 Note 1 – Advances ended endedBorrowings 14,811Deposits 27,637 71,033 31 March 2018 31 March 2017 NAD’000 NAD’000Equity 4 200,000 Year endedShare capital 20,954 31 March 2017 Gross advances opening balance 35,604 38,642General reserve New advances 34,914 21,100Accumulated loss (120,091) NAD’000 Advances repaid (22,206) (24,138) 100,863 Gross advances closing balances 48,312 35,604Total Equity and Liabilities 542 Impairment 128,500 2,766 Net advances - - (1,397) 48,312 35,604 (12,402) (10,491) For the year For the year 3,494 ended ended (62,913) (69,910) 31 March 2018 31 March 2017 NAD’000 NAD’000 (563)Statement of Cash Flows Year ended 38 Impairments – opening balance - (2,577) 31 March 2018 Impairments released through income -2Cash flows from operating activities (7,083) Amounts written off as uncollectable - 2,575Cash receipts from customers NAD’000 (7,609) Impairments – closing balance --Interest incomeInterest paid 235 20,000 Note 2 – Operating costs For the year For the yearCash paid to suppliers and employees 3,769 - Below is the detail of the major operating costs ended ended (2,526) of the bankCash used in operations (29,116) 20,000 31 March 2018 31 March 2017(Increase)/Decrease in advances to customers (27,638) NAD’000 NAD’000Increase/(Decrease) in deposits (12,708) (57,519) 9,888 62,826 Staff cost 15,879 8,699Net cash from operating activities (30,458) Directors fees and remuneration 596 469 5,307 Marketing 825 1,951Cash flows from investing activities Auditing 743 Consultancy and management fees 53 1,290 Occupancy expenses 942 - Depreciation and amortization Administration and other overheads 2,448 1,042 8,780 878 5,451Purchase of property, plant and equipment (99) Note 3 – TaxationSale of property, plant and equipment 579 The bank did not raise any tax credits or deferred tax assets relating to tax losses in thePurchase of other intangible assets (20,104) current or prior periods whilst accounting losses continue. Unrecognised cumulative tax losses of NAD98.1 million (2017: NAD88.1 million) would resultNet cash from inversting activities (19,624) in a credit to income in future periods of NAD34.3 million (2017: NAD28.2 million) if the full assessed loss were to be recognised.Cash flows from financing activities Note 4 – Capital Authorised and issued share capital was increased to 200 000 shares of N$1000 each during the period by way of special resolution.Proceeds on share issue 80,000 31 March 2018 31 March 2017Repayments of financial liabilities (1,836) Capital adequacy for the year ended 31 March 2018 150.20% 109.65%Net cash from financing activities 78,164 Total risk-weighted capital ratio (minimum 15%) 149.48% 108.61% Tier 1 risk based capital (minimum 7%) 52.40% Tier 1 leverage ratio (minimum 6%) 78.12%Net (Decrease)/increase in cash and cash equivalents (28,080) Statement and AvailabilityCash at the beginning of the year 5,307 Trustco Bank Namibia prepares its financial statements in accordance with International Financial Reporting Standards (IFRS)Total cash and cash equivalents at end of the year 33,387 and the Namibian Companies Act. The principal accounting policies are consistent in all material aspects with those applied as at 31 March 2017 and there were no revised or new standards adopted in the current year that had an effect on the Bank’s reportedDirectorate earnings, financial position and reserves or a material impact on the accounting policies. This announcement is itself notDirectors: *T. Newton (Chairperson), *Prof. L.J. Weldon (South Africa), *S.B. Similo, * W. Geyser, reviewed or audited but is extracted from the underlying audited information.  The auditors, Deloitte & Touche have issued anQ. van Rooyen, T.J. Slabbert. *Independent non-executive unmodified opinion on the Bank’s financial statements for the year ended 31 March 2018. The audit was conducted in accordance with International Standards on Auditing. Note that any investment decision by investors and/or shareholders should be based on consideration of the full announcements published on the Trustco Group Holdings website www.tgh.na. This announcement is the responsibility of directors. This unaudited announcement is only a summary of the audited annual financial statements, the full version of the results are available on the group’s website or at our registered office and head office. Registered office: Trustco House, 2 Keller street, Windhoek, Namibia Head office: NAMPA Building, c/o Keller street & Eugene Marais street, Windhoek, Namibia The audited annual financial statements are available at the company’s registered and head office for inspection, at no charge, during working hours. Copies of the full announcement may be requested by contacting the investor relations department.

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27 September - 03 October 2018 ENTERTAINMENT 15ENTERTAINMENTSPOTLIGHT ONShowcasing the latest collections NEVILLE BASSONSIZZLING DESIGNERSTHE Namibian fashion masculine cuts in his shirts. my current work is influenced by Dear Williamscene this spring season VIBRANT: Simeone Johannes, Incorporating mostly African local culture”.is brimming with de- SynEDGY Active wear. We would like to take this opportunity tosigners showcasing new Photo: TW Studio. print in his designs, Shanyenge Asked what fans can expect formally welcome you to the jewel in thecollections with a flash of further states that he finds inspira- from her for the Windhoek crown of Africa, Namibia. We are alsodiversity and chic. INGO SHANYENGE tion from the Namibian people Fashion Week, Misika states that known as “Namibia, Africa for beginners”. Namibian designer Ingo Shany- and their diverse ways of living. she might not be taking part in Yes, we arrogantly regard ourselves as Zorena Jantze enge, who started his craft in this year’s fashion week due to the Switzerland of Africa, our contrasting 2012, is a man who needs no in- The designer states that transi- finances. “We are always excited beauty countrywide is testimony to howWith the Windhoek Fashion Week troduction. Shanyenge’s futuristic tioning from putting on a show for the fashion week. Currently, diverse we are. We would like to take youjust around the corner, Informanté fashion, Afro-centric and bespoke on a runway to selling garments I’m trying to see the extent of my on a journey through our country for you toset down with some of the indus- couture precede his name. and making a business from collection or whether or not I’ll witness the beauty of our wide open spaces.try’s head turners, delving into all showcased pieces can be a taxing even take part in the fashion week, I am happy you had the opportunity tothings that will keep you looking The designer currently has exercise. “The market is still as large collections can be costly,” meet our Vice-President of the Republiccool this season. two brands, namely ‘Small small. One needs to find a balance Misika stated. of Namibia, His Excellency Dr NangoloSIMEONE JOHANNES Boy’, which consists mostly of between the couture and every- MELISSA POULTON Mbumba. He is a very nice guy, but believeReceiving the Award for the Fa- day wear,” Shanyenge explained. With her most recent collection me, it is within Black culture to tracevourite Emerging Designer at the LEAH MISIKA titled, ‘Fire’, sporting enthralling ancestry back to all corners of the world.Simply You Magazine and Life- Bitten by the fashion bug and hav- earthy tones, Namibian designer Chances are that he might try and convincestyle Awards, Simeone Johannes ing no intentions of being cured, Melissa Poulton states that na- you that Megan, your sister-in-law ishas released his new collection founder and managing director of ture’s kaleidoscope of colours is closely related to him.titled ‘‘SynEDGY Active,” which her company, La Mode Fashions, all the inspiration she needs. He might try to convince you that her lightJohannes explains is inspired by Leah Misika is a design creative skin tone could be from their Kwanyama/the 90s era. whose love for fashion makes her The designer adds that she is Kimbundu bloodlines from Angola. Please a force to be reckoned with. The currently working on her line of be careful on that one. Johannes states that with this well-known fashionista explains wrap-around dress and pants, William, you are an extremely tall man.collection he decided to play that she is currently working on a which she showcased with a flair I could see you towering well over thearound with different bright series of pieces for her event, ‘The at the Spring Fiesta that took place head of our Minister of Environment andcolours, whilst incorporating over the past weekend. Tourism, Pohamba Shifeta. I was justthin windbreaker fabric to bring AFROCENTRIC: Ingo Shanyenge’s self-titled brand of couture clothing: wondering to myself, as tall as you are…about a youthful and fun mood to Photos: Enzo.Jantjies Photography “What I usually do is inspired were you born over a long weekend?the jackets. “It’s something very from elements of earth. I choose a It is customary in our country to be taughtdifferent from my usual designs. Streetwear and Ingo Shanyenge, Platform’, which she states is a colour and create garments in the the basics of different languages locally. IIt’s everyday wear with a touch of which consists of high-end cloth- space for emerging designers and different tones that come in that humbly ask you, since you are spendingcreativity,” Johannes stated. ing. Shanyenge explains that he students and will take place on 6 colour. Right now my pieces are time with Minister Shifeta, please don’t recently released a line of hats, October at the Windhoek show more floral,” Poulton stated. greet him in any way in Otjiherero. To greet Due to seasonal changes, Jo- shirts and jackets which he hopes grounds. Revealing a bit about her someone in Otjiherero you say “Kora”,hannes further explained that this to manufacture in bulk . current pieces, Misika states, “As SPICY: Melissa Poulton’s collec- don’t do that please! He might accusefunky wear is only available in a Namibian designers, sometimes tion of Spring wear. you of insinuating that he might havelimited edition, which will be sold He explains that his brand is it’s very hard to think local when Photos: contributed. something to do with some money that gotat the Monochrome pop-up on 7 inspired by African consciousness it comes to designing, however, lost somewhere in West Africa, we don’tOctober. and celebrating culture, with brisk need our honourable minister nervous in front of you during your stay. The young designer states that William, you will notice that it’s extremelydepending on demand, he hopes hot in Namibia since you landed. We spoketo expand the ‘SynEDGY Active’ to our forefathers of the Holy Fire to heatcollection in next year’s winter up the climate for you to get a proper tan.season. Touching on the Wind- It has been very cold this winter, thankfullyhoek Fashion Week, Johannes our summer feels like it’s gonna becomestates that he will unfortunately very, very hot.not be showcasing due to time If you happened to be taken on a grand tourconstraints, but states that he through one of our malls, I humbly ask you,will be attending South Africa’s don’t talk to any White people who speakfashion week to expand his brand Afrikaans. Chances are they might shoutbeyond Namibian borders. at you, “Hey jy soutie!”. I prefer not to tell you now what “soutie” means, just know 6790 2GHBEOREKRIENWS,OORNSIOPANT, RTIEELSIS, 2HS&LMICUESSTOAFRCDHSEAEUSEC,EAWSLITICHEROEFGTCOHMIPASTO, those people never forgave your ancestors about the AngloBoer War. You also seem to sport a very traditional British stiff neck and upper lip, might I suggest a trip to 067 in Katutura. You might run into a very short guy with a kapunda, his name is Webster. He won’t talk to you freely unless you buy him twee groot biere! From there onwards its downhill, his lokasie perspective on Brexit would leave you in a daze. I suggest you go share Webzito’s ideas with your out-of-rhythm Prime Minister, she just might reconsider your position as a country. Thanks again for caring for our environment, and general support to protect Namibia’s wildlife. Through your global efforts we can be assured that our rhinos will stay horny. I thank you your Royal Highness. T&Cs apply. No substitutes on product offered. While stocks last. © Famous Brands Management Company (Pty) Ltd 2018.

16 ADVERTS 27 September - 03 October 2018 Every innovative business idea needs a place to begin. Start here... The Development Bank of Namibia will reward a truly innovative business idea, and all the work that went into it, with the 2018 Innovation Award. Sharpen your pencils. Use this space to make notes, technical sketches, insightful diagrams and detailed calculations. If you strike gold with an idea that can change the future of enterprise, revolutionise the way Namibia does business or rethink the productivity of an economic sector, go to www.dbn.com.na/innovation to download the application form and find out how to enter. Entries close on 28 September 2018 at 14h00. T&Cs apply. THE 2018INNOVATION AWARD Expect more. GEGEleelenecncetertrirarciactitetiGyteYyYoienoiunnu2r2r0Oe0O1wr18wa8n!n!teYour Own Electricity in 2018! DODOYOYUOUPAPYAMY MOROERTEHTAHNAN$N1$0100000PEPREMR MONOTNHTHFOFROERLEELCETCRTIRCICTIYT?Y? DO YOU PAY MORE THAN N$1000PER MONTH FOR ELECTRICITY?GGrirdi-dT-iTeidedSySsytsetmems stsatratritnigngfrformomNN$$6699,0,000! ! GGuauraarnatneteded484-8M-MonotnhthPaPya-yb-abcakckPePreiroidosd!s!GeGteatnanLSLNSNGGrirdi-dT-iTeidedSySsytsetmemNNowow! !SSaaveveuupp-t-oto7700%%ofowf whahtaytoyuoucucrurrernetnlytlsypsepnedndononyoyuoruerlelcetcrticrictyitbyiblli.ll.ThTehLeSLNSN3.32.k2WkWSySsytestmems CsoCmomesews iwthit:h: OnOen3ek3WkWGrGidridInIvnevretertrerN$ 69,000Grid-Tied Systems starting1212SoSloalraPraPnaenlesls from 5 Y5eYaeraWr Warararrnatnyty * A*llAAlml AomuonutsnEtsxcElxucdluedVeAVTATGuaranteed 48-Month Pay-back Periods!* T*erTmersmasnadnCdoCnodnitdioitniosnAspApplyplyCaClal ullsunsonwow: 0:6016-15-55555000000- N- aNtaiotinownwidied!e!LSN Grid-Tied SystemGet anEmEamila: iln: fion@[email protected] Now


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