The Namibia Investment Promotion and Development Board (NIPDB), says projects with a combined value of N$28 billion are now classified as capital deployed. This means investors for the projects have started acquiring land and assets to bring these projects to fruition. This exciting news was shared by NIPDB’s communications manager Catherine Shipushu while responding to...
Industry pundits believe Namibia is facing a watershed moment in its nascent petroleum sector, prompting calls for the implementation of a structured licence bidding system to increase openness and accountability in the sector. Such an approach is viewed as being critical to the successful management of the country’s natural resources. In a presentation last week...
The usually sleepy harbour town of Lüderitz is abuzz with new developments linked to oil and gas discoveries. This is combined with the promise of a flourishing green hydrogen industry, but now the town faces expansion challenges. This is as new investors are rushing to capitalise on the emerging sectors. “Town expansion is taking a...
Namibia could become a crude oil exporter in the early 2030s when several projects reach their production peaks. This optimism is fuelled by concerted efforts to conclude appraisal, and shift the gear to development in the oil discoveries. Interim managing director at the National Petroleum Corporation of Namibia (Namcor) Ebson Uanguta made these remarks while...
Trade minister Lucia Iipumbu stated the 2024 SADC Summit that took place in Zimbabwe last week paved the way for the commencement of the Tripartite Free Trade Area (TFTA) agreement. This will ultimately allow for direct trade among the subscribing countries, and should eventually bring the region closer to the broader goals of the African...
Justice minister Yvonne Dausab has praised Namibia’s institutions, policies and legal arrangements, and said the country’s citizens should be proud of achievements. However, she stated that the biggest challenge remains in the implementation. “But in an election year, our preoccupation as political leaders is how we ensure a culture of service delivery where citizens have...
A High Court ruling this week means former Air Namibia employees will now receive full severance packages at the company’s cost. This comes after over 600 former Air Namibia employees fought for their full benefits from liquidators for nearly three years after the national airline was forced into liquidation. The former employees expressed their dissatisfaction by...
Many Namibian consumers were yesterday given a reason to cheer after years of suffering from the financial stress of a high-interest rate environment. This is because the central bank reduced the repo rate to 7.50% from 7.75% for the first time since June 2022. Due to the decision made by the Bank of Namibia’s monetary...
Mineworkers face numerous health and safety risks in their challenging work environments – not to mention that the risk of accidents is heightened by a need for constant vigilance in a setting where equipment and hazardous materials are prevalent. Many mineworkers are also employed far from their homes, which makes the lucrative profession even more...
Cabinet has urged relevant ministries to implement the recommendations of the Business Rescue Task Force. This submission was made by the finance and public enterprises’ ministry on the progress achieved to date, with implementation of these recommendations such as the drafting of the new Business Law, enactment of the Banking Institutions Act, and creation of...