Category: Industry

The Banque Internationale Arabe de Tunisie (BIAT), represented by the members of its Board of Directors, undertook to take measures and launch a number of national projects focusing on two sectors, namely, social commitment and national economy reboot. These measures and projects follow talks between President of the Republic Kaies Saied and member of BIAT's Board of Directors in charge of relations with public authorities Mohamed Agrebi, according to a bank's press release on Tuesday. As part of its social commitment, BIAT will undertake the complete restoration and renovation of the Belvédère municipal swimming pool and its annexes and the Ibn Khaldoun cultural centre in Tunis, and will also provide support to pupils and high school students selected by the relevant authorities in order to improve their schooling conditions. As far as banking and financial commitments are concerned, BIAT intends to set up a support system for the creation of communitarian companies, which consists of the following: To fi nance communitarian companies with an interest rate equal to the money market rate (TMM), organise workshops in all the governorates of Tunisia to study the specific needs of promoters of communitarian companies and the practical procedures of their support, in coordination with the relevant authorities. BIAT's banking experts will also be on hand in the various regions to assist promoters of communitarian companies with the financial arrangements needed to ensure the success of their projects. Source: Agence Tunis Afrique Presse

The weather Wednesday is slightly cloudy in most regions, getting very cloudy in the north and eastern coasts. The wind is blowing north quite strong near coasts, light to moderate inland. The sea is very choppy to rough. Highs are ranging between 16°C and 21°C, hovering over 14°C on heights. Source: Agence Tunis Afrique Presse

The weather Wednesday is slightly cloudy in most regions, getting very cloudy in the north and eastern coasts. The wind is blowing north quite strong near coasts, light to moderate inland. The sea is very choppy to rough. Highs are ranging between 16°C and 21°C, hovering over 14°C on heights. Source: Agence Tunis Afrique Presse OMUTHIYA: The Ondonga Traditional Authority (OTA) has raised concern about the increasing of unrehabilitated borrow pits along the B1 road in the region. OTA representative Martin Elago at the Omuthiya Constituency consultation workshop held on Wednesday in Omuthiya in the Oshikoto Region, raised the concern of sand mining borrow pits as it poses a threat to both humans and animals. Elago said they understand that everyone wants to build, but they should also consider the safety of people and animals as they leave unrehabilitated borrow pits. 'We urge all contractors not to leave the pits unrehabilitated or fenced off if they are deemed dangerous so they do not pose a danger to the community,' said Elago. He also urged parastatals and companies that award tenders to contactors to enforce that they abide by the rules and policies that are stipulated in the contracts as to what they should do and what not to do in terms of rehabilitating the pits. Elago stated that Roads Authority awards tenders to contrac tors and should be responsible for the enforcement. 'The regional council, local authority, and traditional authority should keep an eye on borrow pits and report them to the relevant authorities so that they are taken up from there,' Elago said. He said there are many pits in the northwestern part of Ondonga and a few up north at Oniipa town in the region. 'There are many but we cannot give a figure because some are closed while others are still not rehabilitated but we have a lot in the Omuthiya surrounding,' said Elago. The workshop was hosted by the Ministry of Agriculture, Water and Land Reform (MAWLR) with the agenda of strategic environmental assessment of the integrated regional land use plan for Oshikoto. The objective of the workshop was to help the consultants, regional council, and MAWLR to have the three flags put around the surroundings. The three flags are the red flag which means danger, the yellow which means you can tamper with caution and the green flag which represents the entry zone . Source: The Namibia Press Agency

WINDHOEK: People who worked closely with late President Hage Geingob from his time as Prime Minister paid him glowing tributes, describing the former Statesman as a mentor, who was good at discovering talent. Celebrating Geingob's tenure as Namibia's first Prime Minister during a memorial service here Tuesday night, gratitude poured towards his unwavering ability to demand the best for everyone around him to reach their full potential. Geingob was Namibia's first Prime Minister from 1990 to 2002 and served in the same position again from 2012 to 2015. Delivering his tribute Geingob's Chief of Security, Commissioner Johan Ndjaronguru who served in his security personnel since 2000 said Geingob demanded the best from everyone around him and was very fast to offer support to get people where he wanted them to be. Remembering his first foreign mission, Ndjaronguru expressed appreciation for the exposure, saying Geingob was a firm believer in exposing those around him for knowledge expansion and capacity build ing. He added that the president was a meticulous and attentive man, who extended teaching such as folding of suits to those around him. 'He always said if you expose people you expand their vision and their dreams… We all know him as a teacher who took it upon himself to inform and educate every willing person,' he narrated. Echoing the same sentiments Inspector General of the Namibian Police Force, Lieutenant General Joseph Shikongo who previously served as the Chief of Security and Unit Commander for the Prime Minister, said Geingob was full of humility, humbleness and mentored everyone around him. 'It is very true that there is a lot that we have learnt from the late president… He also taught us the administration that we are running today… some of us during the time of the liberation struggle did not have the time to go and learn administration but he taught us,' he noted. Secretary to Cabinet George Simataa said Geingob identified him in 1994 to work in his private office as his senior special assis tant, noting years later, he appointed to his office the likes of former justice minister, Sacky Shanghala; Ministry of Information and Communication Technology Executive Director, Audrin Mathe; late Kazenambo Kazenambo, Press Secretary Alfredo Hengari and many other young Namibians. Simataa narrated that they were commonly known as the 'Geingob kindergarten' and a perception was that the then prime minister surrounded himself with kids without suitable support to discharge his constitutional responsibilities, however years later, this Geingob kindergarten produced national leaders who raised to Cabinet positions. 'He is a man who is not selfish and who invited everyone from Zambezi to come join… all of us coming to one house. We continued to witness his belief in young people even during his presidency,' Simataa noted. Minister of Defence and Veteran Affairs, Frans Kapofi who served as Secretary to Cabinet under Geingob's administration noted that the late president was good at scouting and identifying le adership talent that he would nurture and mentor to bring the best out of the individuals. 'Having a mentor of comrade Geingob's calibre was critical because during the time of the struggle not all of us had the opportunity to further our academic education, after independence while given administrative responsibility, comrade Geingob would be very vital in shaping my life in the civil service,' he noted. Geingob died at the age of 82 at a Windhoek hospital and his memorial service is scheduled for 24 February, to be followed by his burial on 25 February 2024. Source: The Namibia Press Agency

WINDHOEK: Governor of the Bank of Namibia, Johannes !Gawaxab announced on Wednesday that Namibia's repo rate is to remain the same, at 7.75 per cent, as decided by the Monetary Policy Committee (MPC). The prime lending rate remains steady at 11.50 per cent. According to !Gawaxab, the committee held its first bi-monthly meeting for 2024 on Monday and Tuesday to decide on the appropriate monetary policy stance to be implemented over the next two months. He said the decision was made to continue safeguarding the peg between the Namibia Dollar and the South African Rand while supporting the domestic economy. Factors put into consideration include the domestic economic activity increase in 2023. 'Inflation moderated, while the growth in Private Sector Credit Extension (PSCE) remained subdued. The merchandise trade deficit continued to improve, and the stock of international reserves remained sufficient to support the currency peg and meet the country's international financial obligations. World output is estim ated to have risen above earlier expectations in 2023, and is projected to remain resilient in 2024. Inflation slowed in both the Advanced Economies (AEs) and the Emerging Market and Developing Economies (EMDEs). Most global monetary authorities kept their policy rates unchanged since the previous BoN MPC meeting,' !Gawaxab said. The next MPC meeting will be held on 15 and 16 April 2024. Source: The Namibia Press Agency