Vice President (VP) Netumbo Nandi-Ndaitwah has urged Namibian businesspeople to be prepared to play their role in ensuring the country reaps the benefits of the African Continental Free Trade Area Agreement (AfCFTA). AfCFTA is the world’s largest free trade area, bringing together the 55 countries of the African Union, and eight regional economic communities. The...
Government has taken issue with the lucrative fishing sector in a 2024 report from the National Planning Commission (NPC). The report focuses on Namibia’s third voluntary national review progress on the implementation of the Sustainable Development Goals towards Agenda 2030. “There is a need to strengthen and fast track all relevant governance legislation to ensure...
The Namibia Local Business Association met with President Nangolo Mbumba at State House on Wednesday to express concern over issues they see as pertinent to the survival of local businesses. The smuggling of cheap fuel from Angola, protection of local businesses, the repo rate and government procurement formed part of the discussions. The State House...
Electronic money or e-money is now viewed as the most convenient and efficient method of conducting financial transactions. With e-money, individuals can make payments and transfers electronically, eliminating the need for physical cash. Bankers Association of Namibia (BAN) CEO Brian Katjaerua said this week that by December 2023, N$67 billion had been transferred through e-moneychannels...
Government is making the necessary preparations to ensure the country is able to meet its Eurobond obligations on 29 October 2025. This is according to finance ministry spokesperson Wilson Shikoto, who stated Namibia is ready to repay its largest single-day debt maturity in the country’s history. Bonds are investment securities where an investor lends money...
After resolving to prohibit the exportation of Namibia’s critical minerals in raw form to create more local jobs and local value last year, Cabinet now endorses a maximum quantity of 1 000kg for mineral analysis per annum per exporter or producer. This submission was made by the mines and energy ministry last week, and applies...
The Bankers Association of Namibia (BAN) has stuck to its guns, saying it is normal to keep interest rates aligned with repo rate adjustments, as it makes economic sense. This is despite a persistent public outcry, parliamentarians’ claims that banks are greedy, and President Nangolo Mbumba asking them to reconsider their approach “We must hike...
Much of the trade emanating from the African Growth and Opportunity Act (AGOA), the United States (US) legislation that provides eligible sub-Saharan African countries with duty-free access to the American market, can be attributed to trade in mineral resources. This trade, noted industrialisation and trade minister Lucia Iipumbu, tends to be more capital intensive but yields...
The Husab mine has stepped up to assist the government with the establishment of a much-needed second desalination plant to be constructed at the coast. NamWater CEO Abraham Nehemia on Wednesday stated that the uranium mine stepped in at a crucial time, and saved the government from mobilising some N$3 billion needed for the project....
The Namibian Public Service Medical Aid Scheme (Psemas) has encountered several issues over the years. These issues range from ghost members, excessive costs, and overage dependents. Fortunately, efforts are currently underway to overcome these issues and improve Psemas’ effectiveness. According to the 2024/25 to 2026/27 medium-term expenditure framework (MTEF), progress on Psemas reforms for 2024/25...