Canadian oil explorer Reconnaissance Energy Africa (Recon) and Norwegian-listed BW Energy have struck a deal for an onshore drilling campaign in northeastern Namibia. The deal means ReconAfrica is selling a 20% working interest in its exploration licence onshore Namibia, to BW Energy, in exchange for total potential consideration of US$141 million (about N$2.5 billion) According...
A young Namibian entrepreneur, Ndahafa Hapulile, was recently propelled to the forefront of African success stories when she was awarded a Royal African medal, and inducted into the Yoruba Royal Court in Nigeria. The award was bestowed on her as part of an initiative of the Royal African Young Leadership Forum (RAYLF), one of the world’s...
By adopting prescribed practices, government and employers can make a difference to create a more efficient and cost-effective job-seeking environment, benefitting both businesses and job-seekers. Executive director in the labour, industrial relations and employment- creation ministry Lydia Indombo said government, through the ministry, launched the Namibia Integrated Employment Information System (NIEIS) to facilitate the job-matching...
Owning a bakkie in Namibia is an emotional endeavour. This is because, for many Namibians, a bakkie is more often than not used to put bread on the table as it is utilised either as a farming workhorse or a reliable cargo and people carrier to tow and load goods for big and small businesses. ...
Despite higher interest rates that might have deterred credit demand, corporate appetite has actually increased as Private Sector Credit Extension (PSCE) for May reached the highest level recorded so far this year. This is the highest level since the 3.9% year-on-year (y/y) increase seen in March 2023. “This implies that companies think now is a...
Looking for work in Namibia can not only be a nightmare, but is also a mammoth and expensive exercise. Namibia’s overall unemployment rate last year was estimated at 34%, while youth unemployment had surpassed the astronomical 45% mark. It is a situation described by late president Hage Geingob as a ticking time-bomb. However, local employment...
The man at the helm of the biggest local listing on the Namibia Stock Exchange (NSX), Vetumbuavi Mungunda, has confirmed his resignation and will leave Standard Bank Namibia (SBN) Holdings Group with effect from 1 May 2021. This advance notice gives the boards of SBN Holdings and Standard Bank Namibia just shy of 10 months...
The Minister of Fisheries and Marine Resources, Albert Kawana, Wednesday lashed out at critics of the new fish quota auctioning policy, saying allegations that this course of action could result in another ‘fishrot’ scandal should be outright rejected. Speaking in Windhoek, Kawana addressed these Fishrot allegations, foreign ownership of the fisheries sector as well as...
There is no doubt that the economic impact of Covid-19 has negatively affected the Social Security Commission’s (SSC’s) funds due to a significant decrease in contributions brought about by increased unemployment and unprecedented business closures. This was according to Minister of Labour, Industrial Relations and Employment Creation, Utoni Nujoma, who spoke yesterday at the SSC...
ǀAEǁGAMS – Covid-19 xa !aromahe hâse ra sîsenǀû kaihe khoen di ǂharo ra !gôab !hūb a ǂhawaseb ge hâ a ǁgoaǂuidi di ǀguis ǀguisa i. Nausab, nē mâsiba Namibiaba ra ǁgari !hūsâuǁkhāsiba ǁkhawa omkhâis !aromase. Nēsab ge !hūǁî sîsengu ǂansabeb Herbert Jauchi !khâikhom tsî ra mîsa ǂgui sîsengu hîa go Covid-19 xa !aromahe hâse a...