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US company Columbia Gem House has denied accusations from Malawi that it owes more than $300 billion in unpaid taxes on minerals extracted in the country.

It is important that sellers guard against being swayed by the charm and the promise of selling for maximum profits and ensure they do not overlook the importance of ticking all the boxes before awarding a mandate for the sale of their property.

You must make sure that the agent is properly qualified and has a valid Fidelity Fund Certificate (FFC).

This is important because a registered agent with a valid Fidelity Fund Certificate offers protection, not only for the sellers but also for buyers as well as for the agent.

The importance of a valid Fidelity Fund Certificate (FFC)

 Under the Estate Agents Act, no person may practice as an estate agent unless he or she is in possession of a fidelity fund certificate. The power to issue and withdraw this certificate vests in the Namibia Estate Agent Board (NEAB).

Fidelity Fund Certificates are valid for 12 months and must be renewed by 31 October annually. Sellers are entitled, and it is recommended, to ask to see the FFC of an agent to check its validity on the document itself as well as with the NEAB, where you can search whether someone purporting to be an agent is in fact registered as such.

By dealing with an agent with a valid fidelity fund certificate, you are not just confirming that the agent is legitimate and appropriately skilled, but the transaction would be covered by the Estate Agents Fidelity Fund (administered by the NEAB) should the need ever arise to lodge a claim with the fund.

The purpose of the fund is to reimburse a member of the public who, under certain circumstances, has suffered a financial loss as a result of his dealings with an estate agent.

There is no limit to the amount a claimant may recover from the fidelity fund, but certain requirements must be complied with before a person is entitled to enforce a claim against the board for compensation from the fund.

The dangers of dealing with an agent who is not registered with the NEAB are enormous. It is an easy exercise to check whether an agent is registered or not - simply ask to see a current copy of the agent’s Fidelity Fund Certificate.

 If the person with whom you are considering working with does not have this, move on and find someone who has the right credentials.

For enquiries Text,Call or email #yourhomegirl Justina Hamupembe

Cell: +264812726001

Email. This email address is being protected from spambots. You need JavaScript enabled to view it. 

Website: www.chili.com.na 

 

The government has sealed a last-minute deal with civil servants Unions' valued at N$924 million to avoid a national strike.

Namibian companies have exported goods and services to the United States of America valued at N$43 million (US$2.7 million) over the past three years under the African Growth and Opportunity Act (AGOA).

Namibia has recorded a trade deficit of N$2.5 billion with the rest of the world, figures from the Namibia Statistics Agency show.

The City of Windhoek is demanding nearly N$25 million from Namibia Dairies after a technical fault at the company’s Avis plant resulted in approximately 6 000 litres of heavy fuel being released into the capital city’s sewerage system in February 2019.

China will deepen its ties with Africa over the next decade by focusing on trade and is unlikely to be dislodged by US and European Union attempts to re-engage with the continent, the Economist Intelligence Unit said.

A consortium led by Remgro has reached an agreement with JSE-listed private hospital giant Mediclinic International to buy it out in a cash offer, which represents around a 50% premium to the group’s volume-weighted average share price for the six months to 25 May 2022.

The Bank of Namibia (BoN) is planning to align the Building Societies Act 2 of 1986 with international best practices.

Trigon Metals has suspended mining operations at Kombat Mine as it revises its mine plan to reduce operating costs.

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