Roundup: 3 December 2015

December 3, 2015, 9:45am

Fears that Eurobond will be used for consumption

By Chamwe Kaira, the Namibian.

IJG Securities is concerned that the hard currency raised via the Eurobond will be converted into Namibia dollars in order to fund government operations as was done with the first Eurobond.

In October the government issued a US$750 million 10-year Eurobond. This was the country's second Eurobond after the US$500 million issued in 2011.

The government has said proceeds from the latest Eurobond will be used to increase the country's international reserves and will also be invested in industrialisation activities.

Read more in the Namibian

Lack of housing hobbles Otjiwarongo

Article and photo by New Era

Outgoing Otjiwarongo Mayor Hilda Jesaja says the five years she has been in office have been a period of socio-economic and political challenges, during which council faced difficulties delivering on key priority areas, such as residential land and housing.

Jesaja, who will know her political fate following the election of office-bearers on Friday, said the service delivery problems were aggravated by a lack of adequate financial resources and a high influx of migrants from surrounding towns.

New Era met up with some DRC informal settlement residents at the town, who woke up as early as 02h00 to cast their votes on Friday and now expect basic services to be provided to them

“We want our councillors to deliver basic services, such as water and electricity. We are, however, thankful that we have plots where we have erected our shacks,” said Katrina Nabot.

Read more in New Era

18 nabbed in N$100m tax fraud

By Theresia Tjihenuna, the Namibian. Photo: the Namibian

THE Anti-Corruption Commission arrested 16 Angolans and two Namibians on Tuesday in Windhoek in connection with an alleged tax refund fraud involving millions of dollars.

ACC director general Paulus Noa yesterday confirmed the arrests, saying the amount could run into millions.

Although Noa could not give an exact figure, a police source said the suspects could have defrauded government of about N$114 million through the finance ministry over the years.

Noa said the suspects, whose identities cannot be revealed until they appear in court, were by yesterday in police custody pending their appearance today or tomorrow.

Read more in the Namibian

Namibia under fire over UN stance

Article and photo by the Namibian Sun

Namibian activists have called on government to explain why the country abstained from voting for a United Nations resolution that aims to protect human rights defenders across the world.

The resolution, adopted by a UN committee last week, calls on all countries to take necessary measures, to ensure that they refrain from any act of intimidation or reprisal against human rights defenders.

It also calls on all countries to halt the arbitrary arrest and detention of human rights defenders. Voting in favour were 117 countries, with 40 abstaining and 14 voting against the resolution.

Read more in the Namibian Sun