A High Court ruling this week means former Air Namibia employees will now receive full severance packages at the company’s cost. This comes after over 600 former Air Namibia employees fought for their full benefits from liquidators for nearly three years after the national airline was forced into liquidation. The former employees expressed their dissatisfaction by...
Many Namibian consumers were yesterday given a reason to cheer after years of suffering from the financial stress of a high-interest rate environment. This is because the central bank reduced the repo rate to 7.50% from 7.75% for the first time since June 2022. Due to the decision made by the Bank of Namibia’s monetary...
Mineworkers face numerous health and safety risks in their challenging work environments – not to mention that the risk of accidents is heightened by a need for constant vigilance in a setting where equipment and hazardous materials are prevalent. Many mineworkers are also employed far from their homes, which makes the lucrative profession even more...
Cabinet has urged relevant ministries to implement the recommendations of the Business Rescue Task Force. This submission was made by the finance and public enterprises’ ministry on the progress achieved to date, with implementation of these recommendations such as the drafting of the new Business Law, enactment of the Banking Institutions Act, and creation of...
In the quest for Namibia to become the first country in the world to industrially produce iron at zero emissions, a N$600 million green iron project, known as HyIron Oshivela, is well on track to kickstart the environmentally-friendly production before end of this year. “We are roughly at half-time of construction. 12 MW of our...
Jerome Namaseb, the consortium CEO of the multi-million-dollar Daures green hydrogen project anticipates production to begin during the fourth quarter of this year. Namibia’s green hydrogen revolution is getting closer to reality, although many Namibians are yet to believe this is a true development of the concept of green hydrogen. This puts Namibia’s investments and...
The mining sector, which is considered one of the most important pillars of the national economy, is expected to be affected by weak global demand. The Bank of Namibia (BoN) quarterly bulletin released last week, the domestic economy is expected to grow by 3.1%in 2024, and then expand by 3.9% in 2025. The projected growth...
After terminating the employment contract of former managing director Immanuel Mulunga, board chairperson of the National Petroleum Corporation of Namibia (Namcor) Florentia Amuenje said the national entity has the right to deduct from his payout. “Such amounts as are due to it from you on the date of termination of your contract of employment,” reads...
The National Petroleum Corporation of Namibia has fired managing director Immanuel Mulunga. He was accused of committing fraud by withholding information from the company’s board, and that he breached conditions of his employment when he transferred funds for the purchase of an oil block in Angola. Mulunga directed that an amount of US$6.7 million...
Finance minister Iipumbu Shiimi said the government is now targeting multinational companies to ensure that tax avoidance is minimised. He said big companies in the country have been avoiding paying taxes for almost 15 years, with the excuse of making losses. A tax loss carry forward is a provision that allows businesses or individuals to...