A monthly wrap-up of News Worth Knowing

DIAMOND SECTOR APPLAUDED FOR YOUTH DEVELOPMENT

The Deputy Minister of Mines and Energy has praised Diaman and The Namibia Diamond Trading Company (NDTC) for their ongoing efforts in youth development. Kornelia Shilunga, the Deputy Minister, commended the diamond sector companies for their commitment to nurturing young people and empowering them to become future leaders. She specifically mentioned Mr. Ofer Babluki and the Diaman board, as well as Mr. Brent Eiseb and the NDTC team, for their support of the Physically Active Youth (PAY) initiative.

Shilunga highlighted that the partnership between Diaman/ NDTC and PAY began in 2019 with the renovation of various facilities to enhance safety and security. She also mentioned previous contributions that facilitated daily programs, including sports and academics, along with the refurbishment of the office and provision of new furniture.

During the sponsorship handover event, Shilunga announced a joint contribution from Diaman and NDTC for 2023. The funding will be utilised to secure a vehicle for transporting learners to sports and camps, initiate phase two of the centre renovations to revamp the garden, and provide additional furniture for the creative lab and maths room. Moreover, the support will ensure the efficient operations of the centre and provide resources for the ICT and Robotics program, including internet connectivity, computers, and learning materials.

OLD MUTUAL COMMITS TO SUSTAINABLE DEVELOPMENT

Old Mutual Investment Group (Old Mutual) is prioritising impact investing and sustainable development, demonstrating its dedication to social and environmental progress. Managing Director Lionel Kannemeyer highlighted the company's commitment to creating a better future. At an investment summit focused on impact investing and sustainable development, Kannemeyer emphasised Old Mutual's unwavering dedication to making a positive impact on society and the environment. He highlighted the company's successful track record in impact investments, generating financial returns while creating meaningful change. Sustainability projects, such as investments in renewable energy and sustainable agriculture, reduce environmental impact while supporting local communities. Old Mutual also explores alternative investments that deliver strong returns and positive social impact, such as affordable housing, healthcare, and education projects. Kannemeyer emphasised the importance of partnerships in achieving these goals. Lily Brandt, Chairman of Old Mutual Holding Namibia, commended the company's commitment to impact investing and sustainable development, emphasising the importance of collaboration and innovation. She acknowledged the contributions of attendees and pledged to continue the conversation and collaboration for meaningful change. Old Mutual sets an inspiring example for the financial sector through its commitment to impact investing and sustainable development, supported by partnerships and innovation.

NAMIBIA SECURES N$1.1 BILLION IN NEW GERMAN FUNDING

Germany and Namibia have strengthened their bilateral ties through a funding agreement of N$1.1 billion. The financial support aims to facilitate various projects in Namibia, including urban development and land expansion in the town of Lüderitz. A significant portion of the funding, approximately N$100 million, has been allocated to support Lüderitz's urban development initiatives, such as the provision of serviced plots and the expansion of townland. The agreement was signed by Welhencia Uiras, the Executive Director of Namibia's National Planning Commission, during a ceremony in Berlin. The precise details of the agreement are yet to be disclosed, as officials remain engaged in Germany. This funding is part of the broader bilateral technical funding and cooperation provided by Germany to Namibia. It highlights the mutual commitment of the two countries to sustainable economic development, training and employment, renewable energy, and the conservation of natural resources. Additionally, the support from Germany in fast-tracking land delivery in Lüderitz aligns with the ambitious Green Hydrogen Project, which is anticipated to generate up to 15,000 job opportunities in the region. The partnership between Germany and Namibia in advancing these initiatives showcases the shared vision and collaborative efforts toward a prosperous and sustainable future.

NEW SACU DEAL TO LOWER TRADING COSTS

The recent signing of the mutual recognition agreement for the Authorised Economic Operator (AEO) program by SACU member countries marks a significant milestone in enhancing trade facilitation and economic development in the region. With Botswana, Eswatini, Lesotho, Namibia, and South Africa as accredited trading countries within SACU, the AEO program establishes a CustomsBusiness partnership that promotes compliance and provides benefits to entities maintaining high operational standards. By rewarding traders who choose to be compliant, the program encourages voluntary adherence to regulations and strengthens cross-border trade. SACU Executive Secretary, Thabo Khasipe, urged businesses to form partnerships through the AEO program, emphasising its potential to extend economic benefits to all citizens in the region. The commitment of revenue authorities to facilitate crossregional trade and leverage global integration opportunities underscores their dedication to reducing poverty, inequality, and unemployment. Furthermore, the AEO program contributes to the vision of deepening Africa's connectivity to global trade networks, presenting opportunities for sustained economic growth and development.

UNAM GRADUATES FIRST LOCALLY TRAINED DENTISTS

The School of Dentistry at the University of Namibia has reached a momentous milestone in the nation's healthcare sector by graduating its first-ever cohort of 16 dentists. This achievement highlights the university's commitment to providing tailored education that caters to Namibia's unique context and addresses the specific oral health needs of the country. Dr. John Rutabanzibwa, Associate Dean of the School of Dentistry, emphasised the advantage of locally trained dentists, contrasting them with their counterparts educated abroad in foreign curricula and contexts. The implementation of a pioneering curriculum for the new program was no easy feat, as described by Dr. Rehema Muro, a lecturer in the Department of Community Dentistry & Orthodontics. Overcoming numerous challenges, the lecturers and academic staff dedicated themselves to ensuring the success of the students. Pena Nelumbu, one of the graduates, expressed deep appreciation for their efforts and expressed a strong desire to make significant contributions to the dentistry field in Namibia beyond this milestone. The graduation serves as a stepping stone towards their broader aspirations for the country's dentistry fraternity.