Namibia is exposing itself to potential revenue losses from one of its most valuable mineral resources. Auditor General (AG) Junias Kandjeke has warned of serious weaknesses in how the country’s gold mining royalties and taxes are verified and collected. In a performance audit covering the 2020/21 to 2022/23 financial years, Kandjeke found the then Ministry...
As energy costs surge and squeeze margins across Namibia’s economy, corporates are being forced to rethink one of their most volatile input expenses, namely power. At a Renewable Energy Breakfast hosted in Windhoek yesterday, Standard Bank Namibia delivered a blunt message to business leaders, municipalities and energy providers: the era of treating renewable energy as...
When Namibia signed the African Continental Free Trade Area (AfCFTA) agreement in July 2018, ratified it in January 2019, and deposited its instruments with the African Union Commission shortly thereafter, it signalled more than compliance with a continental ambition. It signalled Namibia’s belief in Africa as a viable market for domestic enterprises. Several years later, the question is no...
The Bank of Namibia’s (BoN’s) Monetary Policy Committee (MPC) yesterday announced that it opted for stability over stimulus, keeping the repo rate unchanged at 6.50% as it confronts a slowing domestic economy and an increasingly fragmented global monetary landscape. The unchanged repo rate means that both loan repayments and interest returns at commercial banks will...
Washington aims to see United States firms compete aggressively and successfully in Namibia’s offshore and critical minerals value chains. To support this strategy, United States Ambassador to Namibia John Giordano recently completed a 10-day, three-country mission to mobilise American capital and technology into the country’s oil, gas and mining industries. This is because the US...
The recent arrival of the LDV D90 in Namibia represents a notable shift in the local SUV market. The D90 brings a fresh face, strong value, and a compelling feature set into a segment dominated by traditional stalwarts. Whether it can win over buyers loyal to the Fortuner, Everest, or MU-X remains to be seen,...
Private sector medical industry leaders have publicly acknowledged that the sector’s long-term survival depends on unprecedented levels of collaboration, transparency and internal accountability. This was shared at a recent stakeholder roundtable meeting hosted by the Namibia Association of Medical Aid Funds (Namaf) at Avani Hotel and Casino in Windhoek. Held under the theme “Rebuilding Trust...
If an on-site inspection scheduled for April confirms that Namibia’s financial sector reforms are embedded and effective, then the country could soon close a difficult chapter in its financial governance history. If the inspection does not prove fruitful, then Namibia’s grey list clock will keep ticking. An exit from the grey list would send a...
When secretary general of United Nations Trade and Development (UNCTAD) Rebeca Grynspan addresses Namibians this Thursday, her visit will carry more than diplomatic symbolism. The secretary general is visiting at a time when Namibia is at an economic crossroads, facing mineral wealth, high demand for jobs and the need for stability and long-term growth. At...
Londeka, Namibia’s first digital logistics platform connecting shippers with verified truck owners, has taken a strategic step to deepen its footprint in the freight and relocation market by securing a dedicated warehouse facility. The new facility has been acquired to support relay, storage and distribution operations. The bold move marks a significant expansion for the...