The Board of Directors of the African Development Bank Group has approved a US$165 million (about N$2.9 billion) loan to Madagascar to develop critical trade corridors and improve regional connectivity. The funding, granted on 11 December 2024 in Abidjan, will support the third phase of a major infrastructure project to improve trade corridors across the...
The domestic economy continues to record growth since the second quarter of 2021, and during the third quarter of this year, the size of the domestic economy stood at N$61.6 billion in nominal terms, reflecting an expansion of N$5.3 billion from N$56.3 billion recorded in the same period of 2023. This is according to the...
O&L BrandX proudly announces its strategic agency partnership with Sprout Social. This collaboration makes BrandX the first agency in Namibia to partner with Sprout Social, an internationally-accredited social media management platform designed to help businesses centralise and optimise their social media activities. “We are thrilled to be the first agency in Namibia to partner with...
NAMITVEST Investment Holdings paid its first dividend to beneficiaries on 29 November 2024, marking a significant step in its mission to empower members and former members of the Mineworkers Union of Namibia (MUN) and their dependents through financial growth and generational wealth-creation. This milestone reflects NAMITVEST’s commitment to uplifting former and current MUN members, and...
Having a sickly infant and not knowing what the problem is, is the most daunting thing a parent can go through. Not having the ability to afford healthcare is an even bigger problem, according to Sophie (not her real name). The mother of a one-year-old is one of the beneficiaries of the food support by...
Trustco Group Holdings Limited has distributed a circular and notice of a general meeting related to its N$469 million (US$26 million) equity acquisition of additional shares in Legal Shield Holdings Limited (LSH). The transaction, initially announced on 23 April 2024, involves Trustco acquiring 1 135 shares from Riskowitz Value Fund LP (RVF), which will increase...
The European Investment Bank (EIB) has committed US$80 million (about N$1.4 billion) in equity to the Pembani Remgro Infrastructure Fund II (PRIF II) to finance infrastructure projects in sub-Saharan Africa. This investment was announced at the recent Africa Investment Forum. The financial instrument is intended to fund renewable energy, digital infrastructure and transportation initiatives that support...
The Bank of Namibia (BoN) and the Communications Regulatory Authority of Namibia (Cran) recently formalised their cooperation through the signing of a Memorandum of Understanding (MoU) in Windhoek. This MoU strengthens collaboration between the two regulators, reinforcing their commitment to the effective regulation of the telecommunication and financial sectors in Namibia. BoN, established under the...
After five years in operation, the Southern Africa MultiChoice Talent Factory (MTF) Academy in Lusaka this year saw its 100th student graduate from the industry-leading film and TV training programme. The MTF Academy offers multi-disciplinary training programmes aimed at developing the next generation of African storytellers. Every year, students graduate from MTF academies in Lusaka, Lagos and...
Paratus Botswana, a leading telecommunications and network services provider, has commenced work on lighting a new fibre route, the Southern African Development Community (SADC) Highway, which will connect Gaborone in Botswana, through Zimbabwe, to Livingstone in Zambia. The first section in Botswana, which runs from Gaborone to Plumtree, spans approximately 500 kilometres. It is scheduled...