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305830479_5659974397387043_2071382859654011933_n

NSFAF budget increment no bailout, /Goagoses says

N$376m more for student fund
This year, NSFAF approved 22 178 applications, awarding these students an allocation of N$730 million.
Elizabeth //Kheibes
Deputy minister of higher education Natalia /Goagoses has called recent changes to the Namibia Student Financial Assistance Fund’s (NSFAF) budget “much-needed funding to equip Namibian students”.

She tabled the budget in parliament recently, following NSFAF receiving an additional N$376 million during the mid-year budget - on top of the allocated N$1.6 billion granted during the budget review earlier this year.

"During the 2023 application process, NSFAF received 30 124 applications for financial assistance. Out of the total number of applications received, 22 178 applicants - whose income validation was within the threshold of N$500 000 - were eligible for financial assistance. Thus, awarding the said students an allocation of N$730 million,” she said.

“The total budget allocated to NSFAF during the main budget presentation was N$1.6 billion, of which about N$1.3 billion was earmarked for continuing students, unpaid fees for 2022, reduction of loan facility and operational expenses, amongst other things, leaving only N$332 million - which could only cater for 8 932 students.”

Not a bailout

/Goagoses said her ministry then approached the finance ministry on the possible exclusion of 13 246 students, to which the ministry indicated that this could be catered for during the mid-term budget review, hence the additional N$376 million given to the fund.

"The increment should not be termed a bailout, but rather much-needed funding to equip our students," she said.

Additionally, the deputy minister commended the allocation of N$643 million for drought relief provisions under the Office of the Prime Minister, covering both food distribution as well as support for affected farmers.

"With the increase of the threshold for income tax on individuals from the current N$50 000 to N$100 000 to provide relief to low-income individuals, the trade ministry invited entrepreneurs to apply for support through the relaunched equipment aid scheme," she added.

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Namibian Sun 2023-12-02

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Nam 2.2 SAME | Oryx Properties Ltd 12.48 SAME | Paratus Namibia Holdings 12 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.5 SAME | B2Gold Corporation 63.66 UP 0.80% | Local Index closed 675.32 DOWN 0.41% | Overall Index closed 1631.36 UP 2.13% | Osino Resources Corp 17.1 UP 2.52% | Commodities: Gold US$ 2 071.88/OZ UP +1.56% | Copper US$ 3.87/lb UP +1.66% | Zinc US$ 2 537.50/T DOWN -0.3% | Brent Crude Oil US$ 79.29/BBP DOWN -1.58% | Platinum US$ 936.41/OZ UP +0.50% Sport results: Premier League: Forest 0 vs 1 Everton | Burnley 5 vs 0 Sheffield United | Brentford 3 vs 1 Luton Town LaLiga: Real Madrid 2 vs 0 Granada | Athletic Club 4 vs 0 Rayo Vallecano | Girona 2 vs 1 Valencia | Las Palmas 2 vs 0 Getafe | Mallorca 1 vs 1 Cadiz SerieA: SS Lazio 1 vs 0 Cagliari | Genoa 1 vs 1 Empoli | Monza 1 vs 2 Juventus European Championships Qualifying: Swansea City 1 vs 1 Huddersfield Town | Southampton 2 vs 0 Cardiff City | Plymouth Argyle 2 vs 1 Stoke City | Millwall FC 1 vs 1 Sunderland | Sheffield Wednesday 3 vs 1 Blackburn Rovers | Hull City 1 vs 2 Watford | Leeds United 3 vs 2 Middlesbrough | Ipswich Town 2 vs 1 Coventry City | Birmingham City 0 vs 0 Rotherham United | West Bromwich Albion 1 vs 2 Leicester City | Preston North End 0 vs 2 Queens Park Rangers | Ipswich Town 3 vs 1 Millwall FC | Sunderland 1 vs 2 Huddersfield Town | Southampton 1 vs 0 Bristol City | Blackburn Rovers 4 vs 2 Birmingham City | Sheffield Wednesday 1 vs 1 Leicester City | Leeds United 3 vs 1 Swansea City English Championship: Swansea City 1 vs 1 Huddersfield Town | Southampton 2 vs 0 Cardiff City | Plymouth Argyle 2 vs 1 Stoke City | Millwall FC 1 vs 1 Sunderland | Sheffield Wednesday 3 vs 1 Blackburn Rovers | Hull City 1 vs 2 Watford | Leeds United 3 vs 2 Middlesbrough | Ipswich Town 2 vs 1 Coventry City | Birmingham City 0 vs 0 Rotherham United | West Bromwich Albion 1 vs 2 Leicester City | Preston North End 0 vs 2 Queens Park Rangers | Ipswich Town 3 vs 1 Millwall FC | Sunderland 1 vs 2 Huddersfield Town | Southampton 1 vs 0 Bristol City | Blackburn Rovers 4 vs 2 Birmingham City | Sheffield Wednesday 1 vs 1 Leicester City | Leeds United 3 vs 1 Swansea City Weather: Katima Mulilo: 22° | 38° Rundu: 21° | 36° Eenhana: 21° | 32° Oshakati: 24° | 30° Ruacana: 20° | 31° Tsumeb: 22° | 33° Otjiwarongo: 18° | 30° Omaruru: 22° | 32° Windhoek: 19° | 28° Gobabis: 21° | 32° Henties Bay: 16° | 20° Wind speed: 20km/h, Wind direction: S, Low tide: 12:19, High tide: 06:27, Low Tide: 00:26, High tide: 18:32 Swakopmund: 16° | 18° Wind speed: 25km/h, Wind direction: SW, Low tide: 12:17, High tide: 06:25, Low Tide: 00:24, High tide: 18:30 Walvis Bay: 16° | 22° Wind speed: 28km/h, Wind direction: SW, Low tide: 12:17, High tide: 06:24, Low Tide: 00:24, High tide: 18:29 Rehoboth: 20° | 28° Mariental: 23° | 31° Keetmanshoop: 19° | 35° Aranos: 24° | 30° Lüderitz: 17° | 29° Ariamsvlei: 20° | 34° Oranjemund: 14° | 22° Luanda: 26° | 27° Gaborone: 19° | 37° Lubumbashi: 17° | 20° Mbabane: 13° | 30° Maseru: 17° | 33° Antananarivo: 16° | 27° Lilongwe: 19° | 32° Maputo: 19° | 32° Windhoek: 19° | 28° Cape Town: 17° | 22° Durban: 19° | 29° Johannesburg: 20° | 33° Dar es Salaam: 26° | 31° Lusaka: 19° | 33° Harare: 17° | 32° Economic Indicators: Currency: GBP to NAD 23.62 | EUR to NAD 20.25 | CNY to NAD 2.61 | USD to NAD 18.62 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.59 | KES to NAD 0.12 | NGN to NAD 0.02 | ZMW to NAD 0.77 | ZWL to NAD 0.04 | BRL to NAD 3.81 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.22 | USD to AOA 827.79 | USD to BWP 13.56 | USD to EGP 30.85 | USD to KES 153.08 | USD to NGN 788 | USD to ZAR 18.63 | USD to ZMW 23.82 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 75705.88 Up +0.23% | Namibian Stock Exchange (NSX) Overall Index 1630.14 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 11748.19 Down -0.28% | Egyptian Exchange (EGX) 30 Index 24735.39 Down -0.1% | Botswana Stock Exchange (BSE) DCI 8879.08 Same 0 | NSX: MTC 7.51 SAME | Anirep 8.99 SAME | Capricorn Investment group 17 SAME | FirstRand Namibia Ltd 49 DOWN 2.00% | Letshego Holdings (Namibia) Ltd 3.91 UP 0.30% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.97 SAME | Nictus Holdings - Nam 2.2 SAME | Oryx Properties Ltd 12.48 SAME | Paratus Namibia Holdings 12 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.5 SAME | B2Gold Corporation 63.66 UP 0.80% | Local Index closed 675.32 DOWN 0.41% | Overall Index closed 1631.36 UP 2.13% | Osino Resources Corp 17.1 UP 2.52% | Commodities: Gold US$ 2 071.88/OZ UP +1.56% | Copper US$ 3.87/lb UP +1.66% | Zinc US$ 2 537.50/T DOWN -0.3% | Brent Crude Oil US$ 79.29/BBP DOWN -1.58% | Platinum US$ 936.41/OZ UP +0.50%