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The chairperson of the Parliamentary Standing Committee on Economics and Public Administration, Natangwe Ithete, has blasted the Financial Institutions and Markets Act (FIMA) (Act No. 2 of 2021) for its stance on the proposed regulation (RF.R.5.10) for the preservation of retirement benefits.
Andre Messika Diamonds, a supplier of polished diamonds to the global luxury jewellery market, this week revealed it will be donating 25% shareholding in the company to its Namibian employees. This is in efforts to promote local ownership and participation in the industry.
Namibia’s green hydrogen ambitions moved a step closer to fruition after Cabinet this week approved an agreement with Hyphen Hydrogen Energy.
The cumulative number of household borrowers in Namibia increased by 6.9% quarter-on-quarter and by 4.5% year-on-year to 244 697 beneficiaries by December 2022.
Namibian Competition Commission (NaCC) CEO Vitalis Ndalikokule yesterday said the commission is well awake to take action to prevent unfair business practices.
Namibia is expected to produce a very low tonnage of potatoes this year, failing to meet higher domestic demand. This is according to figures shared by the Namibia Agronomic Board in its April to August 2023 vegetable production forecast report.
The incoming board of directors at the Namibia Water Corporation (NamWater) has been urged to keep an eye on a potentially catastrophic water situation for the capital city.
Local content procurement requirements create a number of significant corruption risks.
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.