17th June 2020  /  EAGLE FM

On the radar – 17/06/2020

A. A swamp of red locusts have been detected in the  Mururani, near Rundu, and Grootfontein areas.

The Agriculture ministry will issue a statement to this effect, in the course of the day. 

B.Namibia Food and Allied Workers Union said Pick n Pay Namibia will retrench about 1 500 employees. 

Nafau Erongo Regional Coordinator Johannes Shayuka confirmed the retrenchment and said the union met with Pick n Pay this morning. 

C. Bank of Namibia reduced the cost of money by 25 basis points from 4.25% to 4%.

Bank of Namibia Deputy governor Ebson Uanguta, who termed this cut as ‘historic’, made the announcement of the cut in the repo rate today, Wednesday, 17 June 2020.