Author: Maihapa Ndjavera (Maihapa Ndjavera )

More than 418 000 Namibians are employed in the informal business sector. This speaks volumes, as it is widely recognised that informal businesses, particularly in developing countries, are a catalyst for economic growth. 

Although the Electricity Control Board (ECB)’s financial position remains relatively sound, the institution’s levy income continues to decrease due to a significant slowdown in economic activities. This deterioration of economic activities remains a concern for ECB revenue in the future. 

Since last year, the International Finance Corporation (IFC) has partnered with Pan-African finance organisation Letshego Bank Namibia (LBN) to increase access to affordable housing finance for thousands of individuals in Namibia.

Namibia is scheduled to pay domestic and international creditors some N$9.2 billion in interest, not including the value of the bonds due for redemption. 

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.