Road Fund Administration (RFA) CEO Ali Ipinge said the share of the fuel price RFA receives remains insufficient compared to other countries in the SADC region. He added that about 55%, which is N$1.3 billion out of N$2.42 billion of RFA revenue comes from the fuel levy income, which stands around N$1.48/litre.
German chancellor Olaf Scholz said his country wants to help mineral-rich countries build their processing infrastructure to cut dependency on China and source it straight from countries like Namibia, Indonesia and Chile.
A country that is greylisted is an indication the Financial Action Task Force (FATF), an international watchdog, has identified strategic deficiencies in
applicable systems to counter financial crimes.
The Namibia Revenue Agency (NamRA) surpassed its revenue-collection target for the 2022/23 financial year by N$4 billion. Last year, the State revenue collector was required to bring in N$53 billion in what was seen as an ambitious target then, but exceeded this and collected a total of N$57 billion.
The European Union (EU)-funded twinning project, titled ‘Providing support to the Namibia Standards Institution (NSI)’, together with its partners and the industrialisation and trade ministry, on Tuesday hosted the first-ever EU/Namibia Quality Infrastructure Forum in Windhoek.
Namibians have no choice but to keep on tightening their belts and reduce spending even more after the Bank of Namibia yesterday increased the repo rate again, this time with 25 basis points, from 7% to 7.25%. This brings the prime lending rate to 11%.
Local entrepreneur Samuel Chikambi has advised Namibian youth to do what they love and not wait for a job or connections.
Attracting investments remains at the top of Namibia’s economic agenda.
The Agricultural Bank of Namibia has bemoaned the current high interest rate environment, stating that it is becoming increasingly difficult to source affordable capital to pass on to the agriculture sector at affordable rates.
Namibians will soon find out if they are going to have to fork out more of their hard-earned dollars, just to keep the lights on. This is after Namibia Power Corporation requested a 16.87% increase in electricity tariffs for the 2023/24 year.