Africa’s richest man billionaire Aliko Dangote, is reported to be preparing to construct massive fuel storage tanks at Walvis Bay. The tanks, reports suggest, would be able to supply much of southern Africa. The internet was abuzz yesterday with the news that massive 1.6 billion litre fuel tanks will be constructed on Namibia’s coast by...
Author: Edgar Brandt (Edgar Brandt )
B2Gold Namibia sets sights on Antelope deposit …as it scales down take operations underground
Canadian miner B2Gold Namibia will scale down employment by approximately 400 jobs at its Otjikoto Gold Mine by the end of 2025 due to a transition from open pit to underground mining. It will, however, continue to look for new projects in the country and has set its sights on the nearby Antelope deposit. Located...
All set for Shell V-Power Rally in Tsumeb …easy access along tar roads makes for excellent viewing
The much-awaited third leg 3 of the Namibian Rally series kicks off this weekend in Tsumeb with 12 entries. Derek Jacobs from the Namibia Motorsport Federation (NMSF) has described the rally, with headline sponsors Shell V-Power and M&Z Motors, as a crowd pleaser due to multiple viewpoints. He said it is an excellent route with...
Merger compliance crucial for competition- NaCC
Non-compliance with Namibia’s merger laws can lead to penalties, delays in merger implementation, prohibition, or even dismantling of an unlawfully implemented merger altogether. In this regard, upholding the integrity of domestic merger provisions is crucial for maintaining a competitive market environment in Namibia, fostering economic growth, and protecting consumer welfare. This was stated yesterday by...
Namcor’s dilemma a national concern
A financial mess at the National Petroleum Corporation of Namibia (Namcor) has some analysts questioning the existence of the entire entity. Others described the situation as a matter of national concern and an unacceptable drain on taxpayers. This is after Namcor this weekend revealed a horrid financial situation unfolding at the national oil corporation. A...
Marisa !oa!ū ǀkhuwis ge 13% kōse sīhâ … ǀkhuwi-aon 260 000 ai mâse
Nā 100 xa a !nāsa Marisâuǂgae tama, xawe Marin ǀkha ra sîsen ǂNûiǂgādi (NBFI) hîa ge Namibiab Mariǁhōn ǂNûiǂgādi Mûǂamra ǂgaeǂguis (Namfisa)ge māǂui daoǁgauga sao tama īd,i xan ge 90% gu di ǂnûiǂgāde ǂkhariǀnōb marina ǀkhuwis !nâ a !â. Namfisas di !huis ge, mariǁhōn di minister-es nî ǀawemā, marin ǀkha a sîsenxa ǂnûiǂgādi tsî mari!oabadi...
‘Nam to borrow more for less’ …nation drops to lower-middle-income
Namibia is the only country in the world to have suffered a downgrade by the World Bank Group’s latest classification. The global financial institution has now officially labelled Namibia a lower-middle-income country from the previous classification as an upper-middle-income country. The World Bank bases this classification on Gross National Income (GNI) per capita expressed in...
Cash loan lending up 13% …number of borrowers up to 260 000
Of the more than 100 Non-Banking Financial Institutions (NBFI) that were non-compliant with directives issued by the Namibia Financial Institutions Supervisory Authority (Namfisa), more than 90% are operating in the micro-lending sector. Namfisa was established to supervise and advise the finance minister on matters relating to financial institutions and financial services. In its first quarter...
LDV’s T60 Max delivers more power …as the two-litre bi-turbo diesel engine turns heads
When you put your foot down on the accelerator of the LDV’s T60 Max double cab, it is quite evident why Namibian consumers are steadily migrating to Chinese automotive brands. You feel an immediate exhilaration as adrenalin rushes through your body in response to the superb performance oozing from the T60 Max’s 2 litre bi-turbo...
Economy grows for 16th consecutive quarter
Namibia’s real GDP growth for the first quarter of 2025 dipped to 2.7% year-on-year (y/y) from 4.8% in the corresponding quarter of last year. While this is a notable slowdown in growth, it still marks the 16th consecutive quarter of domestic economic growth. Local analysts pointed out that the latest figures, released this week by...