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...
The increasing number of reported retrenchments all over the country as a result of the Covid-19 pandemic are but the tip the iceberg. However, the situation is forcing Namibia to reinvent its economy. This is according to local labour expert Herbert Jauch, who warned that many of the jobs lost due to the pandemic are...
The Namibia Competition Commission (NaCC) has blocked the acquisition of Schwenk Namibia (Pty) Ltd, which owns and operates the Ohorongo Cement factory, by West China Cement Limited for N$1.5 billion since it would result in coordination between Ohorongo Cement and Whale Rock Cement, which trades as Cheetah Cement. The proposed acquisition was deemed uncompetitive by...
The main opposition party, the Popular Democratic Movement (PDM), has labelled government’s N$4.5 billion loan application from the International Monetary Fund (IMF) as nothing but a veiled attempt of rent-seeking, which is defined as the practice of manipulating public policy or economic conditions as a strategy for increasing profits. Government last week applied for assistance...
The finance ministry yesterday confirmed that Namibia has applied to the International Monetary Fund (IMF) for a N$4.5 billion loan, through the institution’s Rapid Financing Instrument (RFI). The IMF on Monday approved a US$4.3 billion loan for neighbouring South Africa after the institution recently made US$50 billion available to help countries tackle the Covid-19 pandemic. ...
The voluntary retrenchment exercise at the Pupkewitz Group, offered to all its 1 860 employees, has been concluded, with most of the employees opting to take early retirement to use the proceeds to start up their own business or invest in livestock. According to a spokesperson for the Group, the exercise has allowed for consolidation...