The new tax relief measures, through which domestic thresholds have been adjusted that will result in many Namibians qualifying for refunds, were gazetted on Monday this week. This means the implementation of the new tax regime, which is estimated to directly inject more than N$640 million into the pockets of Namibians, is immediate and the...
Collaboration between the governments of Namibia and Botswana continues to bear fruit for citizens and businesses of both countries through last week’s announcement of a substantial reduction of mobile roaming charges. The move by the two countries, which was embarked on about a year ago, signifies a major step towards realising enhanced regional connectivity and...
THE capital city’s failed attempt at establishing functional bicycle lanes – conspicuous by the remnants of broken cones along the road – is being reviewed as the City of Windhoek intends to replace the botched system with a more robust but still cost-effective alternative. Meanwhile, Horst Heimstädt of the Namibia Road Safety Forum stated the...
Bannerman Mining Resources (Namibia) (Pty) Ltd has identified the heap leaching process as the best method to extract uranium from its highly-anticipated Etango Uranium project. What remains a concern for the Australian mining giant is to raise the initial capital injection of about US$350 million to develop the promising Etango project that has the potential...
The Bank of Namibia (BoN) has refuted a statement from Trustco Group Holdings (TGH), the parent company of Trustco Bank Namibia (TBN), that depositors’ funds are guaranteed and held by it. This is after TGH on Friday announced its decision to exit the investment in its commercial banking portfolio, which the group stated accounts for...
The Namibian Competition Commission (NaCC) has approved the proposed merger between Hong Kong-based Sinomine Rare Metals Resources Co. Limited and Dundee Precious Metals (DPM) Tsumeb Holding (Pty) Limited, with conditions. Sinomine Resource Group recently concluded deals to purchase controlling interests in a copper mine in Zambia, and earlier this year purchased Dundee’s copper smelter in...
The skyline in Windhoek’s central business district (CBD) is set for a major makeover, as construction has officially commenced on the Capricorn Group’s new 13-storey landmark building. The groundbreaking ceremony on the corner of Independence Avenue and Kasino Street took place on Tuesday morning in what the group called a “historic milestone” for what will...
First National Bank (FNB) Namibia’s Commercial Enterprise banking segment, which caters to medium corporate clients with turnovers from N$60 million to N$800 million, is integral in enabling local businesses. This is true for a range of industries in which the segment specialises – from tourism and agriculture – to construction, logistics and energy head of...
Small and Medium Enterprises hold the key to Namibia’s economic growth. The sector does this by addressing unemployment, significantly contributing to the gross domestic product. More importantly, it sustains the livelihoods of many Namibians. Government has emphasised that it is crucial to recognise the crucial role SMEs play. Recent research indicates that SMEs provide employment...
Construction work has resumed at the Woermann Brock (WB) supermarket in Hochland Park, where activities were stopped late on Wednesday due to unsafe working conditions. A WB official yesterday told New Era the branch is being revamped to become the latest Woermann Fresh. Moreover, a statement from an occupational health and safety inspector in the...