Author: Maihapa Ndjavera (Maihapa Ndjavera )

Standard Bank Namibia (SBN) has not shaken off the adverse impact of Covid-19 in its full-year results after the bank recorded a decline in profit after tax of 11.9% for 2021, from N$421 million of 2020 to 371 million in 2021.

Vice chairperson of Namibia Petroleum Operators Association (NAMPOA) Bridget Venner last week stated that over N$30 billion has been spent in the country by foreign investors since independence.

The Namibia Revenue Agency (NamRA) has uncovered a scam involving the payment of refunds worth N$15.2 million that the agency attributes to a criminal syndicate. 

Agriculture minister Calle Schlettwein has promoted the Neckartal dam as a real investment opportunity. 

The Targeted Intervention Programme for Employment and Economic Growth (TIPEEG) came under criticism in the National Assembly last week.

Namibia’s total debt stock currently stands at N$125 824 705 809. Of that amount, 26% is foreign debt while 74% is domestic debt.

The outbreak of the Covid-19 pandemic has taught local administrators numerous lessons insofar as public procurement is concerned. This is particularly relevant with respect to the procurement of Covid-19 vaccines. 

Founder  of  Ombu Capital Vetumbuavi Mungunda yesterday said the lack of rural economic activities would lead to even more urban migration that will bring about  more  challenges  in  urban areas.

Recently, a joint venture consisting of Shell announced the discovery of oil offshore. Soon after that, another joint venture consisting of TotalEnergies made a similar announcement, with Qatar Energy and the National Petroleum Corporation of Namibia (Namcor) partners in both discoveries.