Public Debt Servicing Bill increases


The Public Debt Servicing Bill has increased beyond the levels anticipated in the National Budget.

Finance Minister Iipimbu Shiimi says this is commensurate with a rising debt portfolio coupled with the prevailing tight financial conditions.

Shiimi pointed out that, as a result, interest payments have increased by N$1.7 billion to N$11.8 billion for the 2023–2024 financial year.

This equals 15% of the projected revenues for this financial year.

Tsumeb Municipality approves N$171 million budget


In response to the high cost of living, the Tsumeb Municipality has approved a budget of N$171 million for the 2023–2024 financial year.

The budget aims to strike a balance between residents' needs, future planning, and investments.

Additionally, residents can breathe a sigh of relief as the municipality announces that there will be no increases on rates and taxes, sewerage, refuse, water, building plan fees, or fitness certificates.