The Skorpion Zinc mine and refinery in southern Namibia has confirmed it will be placed in care and maintenance in April 2020, which will affect about 1 500 employees.
.jpg)
Petrol prices will come down by a whopping N$1.70 per litre and diesel will decrease N$1.20 per litre on 1 April 2020 as global demand for the oil wanes in the face of the crippling impact of the Covid-19 outbreak. The massive drop in local oil prices was announced even as the local currency depreciated against the United States greenback.
Economists and business leaders have hailed former central bank governor Iipumbu Shiimi as new finance minister as a welcome development, given his extensive economic and banking background. President Geingob on Sunday appointed Shiimi to the finance ministry while former finance minister Calle Schlettwein, a trained biologist, has been moved to the merged agriculture, water and land reform ministry.
The Covid-19 pandemic, which is wreaking havoc across the globe, has the potential to significantly increase Namibia’s unemployment as it is no longer a health crisis but an economic, labour market and social crisis too.
Despite much speculation, Air Namibia has set the record straight regarding its operations and interpretation of Cabinet resolutions on measures to strengthen Namibia’s preparedness and response to the Covid-19. The national airline has reiterated it is in full conformity with government’s resolutions.
Diamond polishing companies currently operating within the soon-to-be-phased-out Export Processing Zone (EPZ) regime, where they enjoy a zero-tax holiday, will be catered for by transitional measures by the which is being finalised by the Ministry of Finance and other relevant government departments.
Substantial progress is being made at the national rail services operator, TransNamib, which recently successfully hosted its first annual general meeting (AGM) in seven years.
The national airline has confirmed a reduction of already at least 24% on its passenger load on the Windhoek to Frankfurt route alone for January and February compared to the same time last year as a direct result of coronavirus fears.
The creation of a national employment task force, a national internship programme, the allocation of free land in urban areas, the adequate leveraging of public assets and the appointment of a government-owned holding company to run affairs of commercial parastatals are but some of the recommendations made by President Hage Geingob’s High-Level Panel on the Namibian Economy (HLPE).
Over the past 10 plus years the national rail services operator, TransNamib, has incurred losses of more than N$1 billion but these financial misfortunes may soon be turned around as relatively new CEO, Johny Smith, aims to bring the parastatal into profitability within the next two years.
African governments still need to do far more to strengthen their cultures of governance, ethical and professional leadership.
The Income Tax Amendment Bill 2020, which calls for the abolishment of the Export Processing Zone (EPZ) tax incentives and the manufacturer’s tax incentives, was submitted to the National Assembly by Finance Minister, Calle Schlettwein, on Wednesday.
International rating agencies and investors place a premium on power generation as a major factor contributing to industrial activity and economic growth.
Botswana’s President, Mokgweetsi Masisi yesterday encouraged the Southern African Customs Union (SACU) Secretariat to consider sharpening collaboration with leading institutions relevant to its work.
Arandis Power has responded to environmental concerns raised regarding power plant driven by low sulphur heavy fuel oil through which it is has offered to supply South Africa’s Eskom with 120MW of electricity.
.jpg)
As the coronavirus pandemic continues to spread across the world and has now killed more people than SARS (Severe Acute Respiratory Syndrome), the disease is wreaking havoc on the Chinese economy and is severely disrupting global supply chains.
WINDOKO – Libyana zelongwa halizwelapili kuekezeha mwamukwakwa wa Walvis Bay-Ndola-Lumbumbashi, bakwaezi balimbayambaya zelonga libyana bazwelapili kutalimana nimaswenyeho habakena kwalineku la Zambia, kakuli mukwakwa ozwa Sesheke kuya Livingstone hamoho cwalo ni Lusaka, mane kuyoli tii kwa museto wanaha DRC, usiala mwamayemo maswe.
The founder of Nghishe Biotech, Charles Haluodi, has developed a system to convert organic waste such as food, animal and plant waste, into environmentally friendly flammable gas and organic fertiliser.
The voluntary nature of the Retail Sector Charter (RSC) remains one of the biggest challenges hindering its successful implementation.
As cargo volumes continue to increase on the Walvis Bay-Ndola-Lubumbashi Development Corridor (WBNLDC), Namibian truckers continue to face an uphill battle once they enter Zambia, as the Livingston to Sesheke road leading to Lusaka and beyond to the Democratic republic of Congo remains in a dilapidated state.