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1 month ago

Planning commission prioritizes affordability, transportation eligibility and critical-areas work in 2026 draft work plan The commission agreed to continue 2025 affordability work with emphasis on small-scale affordability, to pursue transportation-element changes to retain grant eligibility, and to plan for updates to the Critical Areas Ordinance and Shoreline Master Program aligned with a 2027 deadline.

Lake Forest Park's Planning Commission is setting the stage for a transformative 2026 by prioritizing affordable housing, transportation grant eligibility, and crucial updates to environmental regulations.

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Citizen Portal News US

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3 months ago

UN officials point to Peacebuilding Fund projects in Liberia, CAR and Guatemala as examples of impact UN PBSO leaders described how Fund support has helped sustain transitions — including local reconciliation committees in the Central African Republic and an evaluation in Guatemala finding large reductions in land‑use conflict — and emphasized the Fund's focus on community‑level, last‑mile interventions.

Discover how the UN's Peacebuilding Fund is transforming communities in Liberia, Guatemala, and beyond, fostering peace and reducing conflict through grassroots initiatives.

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Citizen Portal News Michigan

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4 months ago

Committee hears bill to give Michigan residents a 50% tax credit for local investments Representative Jenkins introduced House Bill 48‑16 to create a tax credit intended to encourage non‑accredited (retail) Michigan residents to invest in qualified Michigan businesses. Proponents said the credit would recirculate capital locally and cited prior Michigan and international models; fiscal impact was described as “unknown.”

Michigan is set to empower residents with a groundbreaking 50% tax credit for investing in local businesses, potentially revolutionizing community wealth-building.

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All Namibian News

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7 months ago

Fool Me Again With Bee [Namibian] Minister of industries, mines and energy Natangue Ithete this week buttressed the government target that "locals" must own at least 51% of all mining activities.

#Namibia #Mining #Minerals #LocalOwnership #EconomicDevelopment

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7 months ago

IPC labels Govt’s 51% local ownership plan ‘reckless’ Erasmus Shalihaxwe The Independent Patriots for Change (IPC) has condemned the government’s proposal to secure 51% local ownership in all new mining ventures, calling it “reckless” and driven by populism. The party criticised the proposal as a vote-seeking tactic that could harm the economy. The plan, announced by minister of industries, mines and energy Nantangue Ithete during the 2025 Mining Expo and Conference in Windhoek on Tuesday, proposes that the government negotiate majority ownership in all future mining explorations. IPC shadow minister of industries, mines and energy Ferdinand Hengombe warned that such a policy would deter investors and damage Namibia’s mining prospects. “If the government proceeds with stringent local ownership rules, it will hurt Namibia’s mining prospects, especially for projects like the new lithium prospects critical for green energy,” Hengombe said. “The oil and gas industry will also be watching closely and will not invest under such draconian and unrealistic frameworks.” Hengombe emphasised the importance of the mining sector to Namibia’s economy. “The mining sector procures over N$20 billion from Namibian suppliers each year, employs thousands, and pays billions in taxes and royalties. This is one of the only growing sectors of our economy, despite decades of growth-destructive policies from Swapo,” he said. He added that while Namibia may not be getting the best possible deal, imposing a 51% local ownership requirement alongside high taxes and royalties would hinder future growth and development in the sector. Since the announcement, there has been uncertainty regarding how this policy will be implemented. Some have questioned whether it will be done through a free-carry model or if locals will be required to pay for their shares. In 2023, then-mines minister Tom Alweendo raised concerns over foreign dominance in Namibia’s mining and petroleum sectors. At that time, he advocated for the state to hold free-carried equity stakes , with the option to purchase additional shares while maintaining investor confidence. Hengombe believes Ithete’s remarks would scare off new mining developments and tarnish Namibia’s reputation as an attractive investment destination for years to come. “A balanced approach is needed that puts Namibia’s interests first while keeping essential partners at the table,” Hengombe stressed. He called for the President, Netumbo Nandi-Ndaitwah, to hold the Ithete accountable and consider recalling him. “The mining sector is too important for Namibia to leave in the hands of such a destructive force.” Hengombe also pointed to the collapse of South Africa’s mining sector due to similar policies, noting that no significant mines have been developed in the country for over a decade. He criticised Ithete for relying on populist narratives without properly understanding the sector’s dynamics. “The minister has done no homework and simply sings populist narratives to try and win votes at the expense of the economy,” Hengombe warned. Since Ithete’s announcement, the government has not provided further clarification on how it intends to secure 51% equity in new mines. Economists such as those at Simonis Storm Securities have said the ideal situation is for Namibia to mine and sell its resources for the benefit of its people, but due to the country’s lack of capital and expertise, this remains a challenge. Reports from this week show analysts argue that a 51% share is a tough sell to serious investors, though they agree that increasing local ownership is a valid approach. A 51% free-carry model, they suggest, could exclude Namibia from global exploration budgets. Currently, Epangelo Mining holds a 10% stake in the Husab Uranium Mine, which is managed by Swakop Uranium and majority-owned by China General Nuclear (CGN). Epangelo also has a 10% stake in the Kombat Copper and a 7.5% stake in the Navachab Gold Mine from QKR Namibia. Additionally, Epangelo holds an 8% stake in Sakawe Mining Corporation, operating as Samicor Diamonds, and a 5% stake in Yellow Dune Uranium Resources, a joint venture with Reptile Uranium Namibia and Deep Yellow. Other stakes pursued, such as the 5% stake in Bannerman Energy’s Etango uranium project, were not concluded.

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7 months ago

Namibia moves to enforce 51% local ownership in new mining ventures In a significant policy shift aimed at ensuring greater national benefit from mineral wealth, Namibia’s Deputy Prime Minister and Minister of Industries, Mines and Energy, Natangwe Ithete, announced today that the government is actively pursuing mechanisms to mandate 51% Namibian ownership in all new mining ventures. The announcement came during

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7 months ago

Namibia considers 51% local ownership in new mining ventures - Namibia Economist Namibia considers 51% local ownership in new mining ventures Namibia Economist

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7 months ago

Financial sector misses local ownership target by 5% Justicia Shipena The financial sector has underperformance in several areas, with local ownership and control reaching only 20% against a target of 25% in the last ten years. This shortfall indicates limited local participation in the financial system and highlights ongoing challenges in empowering domestic stakeholders and businesses. Bank of Namibia (BoN) governor Johannes !Gawaxab acknowledged the gap at the launch of the Financial Sector Transformation Strategy for 2025–2035. The strategy, developed by the BoN, the Namibia Financial Institutions Supervisory Authority (Namfisa), and the Ministry of Finance, aims to address gaps in the financial system, particularly in rural and informal sectors. It focuses on nine key areas, including financial inclusion, modernising infrastructure, digital innovation, and consumer protection. By 2035, the strategy aims to increase the number of registered domestic and foreign investors by 70%, and the number of listed companies and assets under management by 75%. It also targets enabling 60% of rural farmers to access climate finance solutions and increasing digital transactions in rural areas by 80%. At least five new financial instruments are expected to be introduced annually.A regulatory framework for RegTech and SupTech is scheduled to be in place by 2025. The strategy further sets a goal of achieving 95% national financial inclusion, with 75% in rural areas, and to finance 80% of micro, small, and medium enterprises (MSMEs) that are 10 years or older. It also aims to support 70% of informal businesses and startups in accessing funding. In workforce development, the strategy targets completing essential skills and digital training for at least 70% of financial sector employees. The BoN also plans to launch an Instant Payment System in 2026 and participate in regional projects like Project Sunbird. !Gawaxab said that technology will be used as a tool to provide efficient, affordable, and relevant services. Namfisa chief executive officer Kenneth Matomola emphasised that consumer protection is central to the strategy, focusing on ensuring fair treatment of customers and strengthening market conduct supervision. The executive director of the Ministry of Finance Michael Humavindu, explained that the strategy reflects a national consensus and high-level political commitment. He stressed the importance of a financial system supporting sectors like oil, gas, and renewable energy, turning these opportunities into broad-based prosperity. The Financial Sector Council will coordinate the implementation of the strategy.

#FinancialInclusion #LocalOwnership #FinancialSector #NominalGrowth #EconomicEmpowerment

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All Namibian News

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7 months ago

The Financial Sector Must Stop Financing Everyone but Namibians When Bank of Namibia Governor Johannes !Gawaxab recently admitted that local ownership and control in our financial sector has reached only 20% against a 25% target set a decade ago, he was not merely stating a statistic, he was laying bare an uncomfortable truth. Namibia’s financial services sector, the backbone of any modern economy, remains far too dependent on and beholden to foreign capital and interests. For ten years, we have tinkered at the edges of transformation. We have introduced localisation quotas, promoted local talent into top management, and celebrated the listing of banks on our stock exchange. Yet beneath this veneer of progress lies an inconvenient reality: our financial system continues to be a conduit for wealth extraction, with profits flowing out of Namibia to build other nations, notably South Africa. The dominance of South African-owned banks and insurers in Namibia is not simply a matter of ownership. It is a matter of economic leakage. Every year, billions in profits are repatriated to Johannesburg and Cape Town, capital that could have been reinvested in Namibian industries, infrastructure, and people. While South Africa grows its economy and empowers its citizens with the dividends earned here, Namibia is left with crumbs. This dynamic is not just an economic imbalance; it is an erosion of our sovereignty. True Namibianisation is not about window-dressing with token shares or cosmetic appointments. It is about keeping Namibian capital in Namibia, circulating, multiplying, and creating opportunities for our entrepreneurs, our youth, and our communities. The Financial Sector Transformation Strategy for 2025–2035 is a welcome step, but strategies do not change realities unless they challenge entrenched structures. Localization, merely meeting ownership quotas, will not deliver economic justice if the underlying business models remain extractive. Real transformation must ask hard questions: * Why do our banks continue to channel the lion’s share of their profits to foreign parent companies? * Why are local businesses, particularly in rural and informal sectors, still underserved despite these banks’ decades-long presence? * Why is Namibian pension capital still managed primarily by offshore entities, investing more abroad than at home? Unless these structural leakages are plugged, we will remain a financial colony, an economy where value is created locally but harvested elsewhere. To achieve true Namibianisation, we must do more than legislate. We must strategically re-engineer the sector: * Mandate Retention of Capital: Set regulations requiring a significant portion of profits generated in Namibia to be reinvested locally. * Empower Local Asset Managers: Channel pension and investment funds toward Namibian-owned financial institutions that reinvest domestically. * Support Indigenous Financial Institutions: Create incentives, from tax breaks to preferential procurement, for wholly Namibian-owned banks and insurers to thrive. * Invest in Human Capital: Develop a pipeline of Namibian talent not just to fill management positions, but to lead innovation in fintech, asset management, and risk underwriting. This is not protectionism; it is economic self-determination. The next decade is critical. Namibia cannot afford another ten years of underperformance while our financial arteries continue to pump wealth into foreign economies. The Financial Sector Transformation Strategy must not only be implemented, it must be radical in its ambition. We must demand a sector where ownership is not symbolic, where decision-making is not remote, and where every dollar generated here works to uplift Namibians. Only then can we say we have truly Namibianised our financial system. Until that day, we remain the financiers of everyone but ourselves.

#Namibia #FinancialSector #LocalOwnership #EconomicJustice #WealthExtraction

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Citizen Portal News Utah

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9 months ago

Local Council debates ownership rules amid housing market concerns in Murphy Flats Council members discuss balancing local ownership with demand for employee housing in Murphy Flats.

As wealthy buyers from out of state threaten to inflate property prices, local families in Grand County are left wondering if they'll ever be able to afford a home.

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Citizen Portal News Montana

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9 months ago

Missoula explores local ownership for new baseball franchise acquisition strategy Missoula considers locally held franchise model to enhance community engagement and ownership.

Missoula is gearing up to bring a baseball franchise to the city, with local ownership emerging as the key to fostering community pride and investment.

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Citizen Portal News Alaska

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10 months ago

Assembly reviews AMCO winery application and alters land sale process for local ownership Assembly resolves AMCO's winery address issue and discusses fair land sale practices.

In a heated Kodiak Island Borough assembly meeting, officials tackled urgent land use issues, pushing for local ownership in a new winery application and public land sales.

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Citizen Portal News South Carolina

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11 months ago

Local residents advocate for small businesses over franchises in Lake Wylie Residents express desire for local business growth and community preservation in Lake Wylie.

York County residents are rallying for local businesses, fearing that national franchises could erase their community's unique identity.

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Citizen Portal News Minnesota

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1 year ago

Senator Gruenhagen questions solar garden ownership and pricing disparities in Minnesota Senator Gruenhagen raises concerns about solar garden ownership and price inflation in Minnesota.

Senator Gruenhagen exposes shocking truths about solar energy in Minnesota, revealing that a staggering 87% of profits are leaving the state—can local ownership turn the tide?

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#MN #SustainableEnergy #LocalOwnership #EconomicAccountability #CitizenPortal #MinnesotaEnergy