Ref: 13/6/26
1 February 2008

MEDIA BRIEFING FROM CABINET CHAMBERS

Cabinet took the following decisions at the 1st 2008 meeting held on 22 January 2008:


1. KARAKUL BOARD OF NAMIBIA BUDGET 2008/09

The Namibian karakul pelts, trading as swakara, are recognised as one of the leading furs in terms of quality and uniqueness. The pelts were admitted to the purple club, meaning that swakara can be sold exclusively from the 100 leading fur purple boutiques around the world.

Due to very successful promotion campaigns during the past two seasons in Moscow, Hong Kong, Milan and Frankfurt, the Karakul Board resolved to continue to exhibit eight (8) karakul garments at international trade fairs. Although the promotion campaigns are very costly, it will be more costly not to be present at the international fur arena as the profile built up over the last few years will be lost.

In the light of the above, Cabinet approved the 2008/09 budget of the Karakul Board of Namibia and also approved support to the amount of N$200 000 to the Karakul Board for participation in international fur fairs.

Further information can be obtained from the Ministry of Agriculture, Water and Forestry at telephone number 2087643.


2. ANNUAL GENERAL MEETING OF THE LüDERITZ WATERFRONT DEVELOPMENT COMPANY (PTY) LTD

The Lüderitz Waterfront Development Company (Pty) Ltd was formed to realise the potential of Lüderitz as a business, recreation, tourist and social focus destination.

The Waterfront project plays a pivotal role in transforming the harbour town into a viable and self-sustaining commercial city. It also seeks to accommodate, facilitate and minimise the shortcomings of the town that should have been the heartthrob of the Karas region.

The Company held its annual general meeting on 22 November 2007 and announced that it made a profit and that it is able to pay dividends to its shareholder, the Namibian Government.

Cabinet, therefore, approved the Annual Financial Statements of the Lüderitz Waterfront Company (Pty) Ltd for the year ending 28 February 2007 and authorised the Ministry of Finance to table it in the National Assembly. Cabinet also approved the payments of dividends amounting to N$476 773.00 to the shareholder. The Company also received the green light to appoint company auditors in consultation with the Minister of Finance, while Cabinet, furthermore, approved the fast tracking of the implementation of the company strategy.

Further information can be obtained from the Ministry of Finance at telephone 2099111.

MBEUTA UA-NDJARAKANA
PERMANENT SECRETARY