Trade minister Lucia Iipumbu stated that more than 90% of the gemstones leave Namibia in a rough form, which translates into a loss of jobs and revenue for the domestic economy. Gemstones are precious or semi-precious stones that, once cut and polished, are used in jewellery.
Government’s relaunched scheme is starting to play a more meaningful role in supporting the growth and sustainability of small and medium enterprises (SMEs), with over N$85.9 million or 17.18% disbursed to 80 SMEs across the country. This figure was released on Friday by central bank spokesperson Kazembire Zemburuka.
The national rail service operator, which faces the dual challenge of an ageing and deteriorating railway infrastructure and outdated rolling stock, was this week painted as a concerning picture of management and governance practices.
Works and transport minister John Mutorwa said there should be fairness and equity in all regions in terms of road infrastructure for no one to be left out.
NamPower remains adamant it will disconnect the electricity supply of defaulting customers as of 5 June 2023 if those customers fail to honour their debt by the end of this month, but Nored has said it is trying to find a way out of its crisis.
Finance and public enterprises minister Iipumbu Shiimi has appointed and inaugurated a 36-member technical advisory committee (TAC) on Monday, tasked to consult the broader public on a proposed regulation (RF.R.5.10) on the preservation of retirement benefits.
Finance minister Iipumbu Shiimi warned that tax does not discriminate and thus urged all Namibian citizens to be compliant and pay tax as required. Shiimi further cautioned those trying to escape and avoid honouring their tax obligations to the revenue agency to be mindful because “it is just a matter of time”.
Namibia Chamber of Commerce and Industry (NCCI) president Bisey /Uirab yesterday said Namibia’s recent oil discoveries and its renewable energy ambitions can significantly boost economic growth. He further noted that the evolving opportunities cannot be ignored by the local business community.
Struggling Namibian consumers barely dealing with rising debt levels, inflationary pressure and dwindling disposable income now have to deal with another price hike that will certainly fuel an increased cost of most other goods.
Communications Regulatory Authority of Namibia (CRAN) CEO Emilia Nghikembua stated total investment in the telecommunications sector declined during the fourth quarter of 2022. She cautioned that in the long run, this could result in poorer service quality due to congestion in some areas.