The upgraded Namibian banknotes and coins unveiled on Wednesday evening by President Netumbo Nandi-Ndaitwah are a necessary step, given the country’s banknotes were last updated in 2012 while the domestic coin series has remained unchanged since 1993. As such, the updated currencies, expected to go into circulation next month, have been designed to meet the...
A relatively new initiative is targeting to turn Namibian boys into productive and caring members of society. The programme, called the 4×4 Initiative, recognizes and deals with the myriad of challenges boys face on a daily basis by offering camps where they are taught how to become leaders and how to constructively contribute to the...
Allan Martin and Maretha Olivier in their Skoda R5 took the top position at a tough and demanding Tsumeb Rally this weekend. They were followed closely by Marko Himmel and his co-driver, Francois Schoonbee driving the legendary Toyota Etios on a rally course on Saturday. Himmel and Schoonbee were hot on the heels of...
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...
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...
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...
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...
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...
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...
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...