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07:20Last update on: 13 Aug 2013
The Namibian
Tue 13 Aug 2013
SMS Of The Day * MINISTRY of Gender and Child Welfare, TEARS are rolling down as I write this SMS. The killing of women in Namibia is now like reciting a poem. Are we really getting the protection we deserve while women not being treated as part of this c Food For Thought * SO the Zimbabwe elections were free and peaceful and not free and fair? Bouquets And Brickbats * NURSES at Katutura Hospital must stop wearing those big plastic sandals at work because they are not the official working shoes. We want to see you looking smart and beautiful with your full uniform. SMS Of The Day * THIS nation is in dire need of a massive conference on housing. When we experienced a crisis in the education sector a crisis-control brain-storming conference was organised which resulted in the best deal ever for the Namibian child, nam Food For Thought * BOURGEOISIE has become a daily occupation if not the order of the day of the upper-echelons, President Hifikepunye Pohamba we urge you to revisit this unpatriotic geocentricism among your staff and the well-connected, for everybody to r Bouquets And Brickbats * COMMISSIONER of Prisons, can you please explain the strategies you use to appoint officers to certain positions? It is my observation that you are being fed with wrong information then you just promote individuals without making p SMS Of The Day * I THINK Paulus ‘The Rock’ Ambunda lost his belt because of this promoter and trainer. How can a world champion still be training at the Katutura Youth Complex where there is not enough equipment. I think they must follow the example of Ha Food For Thought * NAMIBIA Dairies are unable to match low prices of imported milk and this ultimately means the consumer will have to pay more for local milk. Look at the prices of the local chicken. All these profits are going in the pockets of a few in Bouquets And Brickbats * I AM pleased to hear that Cabinet has responded positively to the proposal of Namibia Dairies to support the industry. The restrictions which support the industry by reducing competition to ensure the survival of the industry is a SMS Of The Day * CEO’s golden handshakes. Somewhere on our statute books there must be a provision that if a board of directors suspends/dismisses a CEO without due regard to legal provision (substantive/procedural law) such board must carry the costs for Food For Thought * JACKY Asheeke was so right with her last column- why are the fathers of the dead children not being prosecuted? (Reference to the children who died in shack fires last week) Our justice system still protects men over women. In this cont Bouquets And Brickbats * ALEXACTUS Kaure, your column in Friday’s newspaper opened my eyes. One hardly finds impartial case study analysers in Namibia. Let’s not destroy the Polytechnic’s strong foundation (Tjivikua) as yet. At least wait until the transf
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BUSINESS - COMPANIES
| 2013-08-02
Public companies transparent in governance survey
Chamwe Kaira
RESULTS of the 2013 governance report released by Deloitte & Touche on Wednesday showed that 93% of respondents were from the private sector compared to last year’s 52% in this sector.
The report said 54% of the private sector companies were public companies (Limited) with the remaining being proprietary limited or privately owned. Under the Companies Act companies are either Pty or Limited. Those surveyed included chief executive officers, managing directors, chief financial officers, company secretaries, directors and heads of governance and compliance.
“This result is not surprising given that public entities should be seen to me more transparent given their interaction with the public at large,” the report said.
The report said in 2012, there was an increasing average number of staff from 2010-2011.
“The 2012 staff members decreased, with some respondents having had a reduction in their workforce,” the report said. The report said a minimum of eight employees was recorded with a maximum of 1820 staff over the years.
“On average, 50% of expenditure is allocated to personnel costs compared to last year’s 41%. This implies that half of an entity’s expenditure is spent on its workforce. A minimum of 13% and maximum of 70% was recorded. From this it could be interpreted that some companies have increased their workforce spending,” the report said.
Of the respondents, 86% (81% in 2012) believe that their staff complement will increase by 2015, while 0% (four percent) expects the staff complement to decrease. “Once again, this suggests overwhelming optimism about the future of the Namibian economy,” the report.
The survey showed that 71% do not have published procurement practices relating to Black Economic Empowerment while 29% publish.
“It is evident that a vast majority of the respondents do not have BEE published procurement practices. With the introduction of the New Equitable Economic Empowerment Framework (NEEEF) policy, businesses will be expected to proactively embrace transformation and to participate in the envisaged transformation,” the report said.
NEEF is based on voluntary business practice and consists of policies designed to encourage the private business sector to become more equitable and to make a greater contribution towards national economic empowerment and transformation.
The report noted that there have also been announcements about changes to the public procurement requirements, with much of these requirements stemming from the principles established in NEEEF.
“Therefore, the proactive embrace of BEE will become a business imperative for companies that have business dealings with government and the public sector,” the report said.
The report said public sector companies must list on the Namibian Stock Exchange to assist the funding of public infrastructure projects with private sector funds. Listing of a company provides exclusive privileges to securities and enhancing the status of the company, the report said.
The report said none of respondents has indicated that talent is readily.
“Skill shortage in the country is an area requiring significant attention at national level. It is no surprise that given this statistic, companies should place emphasis on the imparting of general business skills to their personnel as part of their sustainability efforts. Technical skills are a key aspect in executing the strategies and initiatives that ensures sustainability,” the report said.
The report said 54% of the private sector companies were public companies (Limited) with the remaining being proprietary limited or privately owned. Under the Companies Act companies are either Pty or Limited. Those surveyed included chief executive officers, managing directors, chief financial officers, company secretaries, directors and heads of governance and compliance.
“This result is not surprising given that public entities should be seen to me more transparent given their interaction with the public at large,” the report said.
The report said in 2012, there was an increasing average number of staff from 2010-2011.
“The 2012 staff members decreased, with some respondents having had a reduction in their workforce,” the report said. The report said a minimum of eight employees was recorded with a maximum of 1820 staff over the years.
“On average, 50% of expenditure is allocated to personnel costs compared to last year’s 41%. This implies that half of an entity’s expenditure is spent on its workforce. A minimum of 13% and maximum of 70% was recorded. From this it could be interpreted that some companies have increased their workforce spending,” the report said.
Of the respondents, 86% (81% in 2012) believe that their staff complement will increase by 2015, while 0% (four percent) expects the staff complement to decrease. “Once again, this suggests overwhelming optimism about the future of the Namibian economy,” the report.
The survey showed that 71% do not have published procurement practices relating to Black Economic Empowerment while 29% publish.
“It is evident that a vast majority of the respondents do not have BEE published procurement practices. With the introduction of the New Equitable Economic Empowerment Framework (NEEEF) policy, businesses will be expected to proactively embrace transformation and to participate in the envisaged transformation,” the report said.
NEEF is based on voluntary business practice and consists of policies designed to encourage the private business sector to become more equitable and to make a greater contribution towards national economic empowerment and transformation.
The report noted that there have also been announcements about changes to the public procurement requirements, with much of these requirements stemming from the principles established in NEEEF.
“Therefore, the proactive embrace of BEE will become a business imperative for companies that have business dealings with government and the public sector,” the report said.
The report said public sector companies must list on the Namibian Stock Exchange to assist the funding of public infrastructure projects with private sector funds. Listing of a company provides exclusive privileges to securities and enhancing the status of the company, the report said.
The report said none of respondents has indicated that talent is readily.
“Skill shortage in the country is an area requiring significant attention at national level. It is no surprise that given this statistic, companies should place emphasis on the imparting of general business skills to their personnel as part of their sustainability efforts. Technical skills are a key aspect in executing the strategies and initiatives that ensures sustainability,” the report said.
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