• February 18th, 2019
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CIF calls for establishment of National Construction Council

WINDHOEK – The Construction Industries Federation of Namibia (CIF) is optimistic that lawmakers will focus on ensuring better opportunities for the Namibian construction sector and will explicitly address the extent of foreign involvement in the industry, which the federation says is currently to the detriment of Namibian contractors. This call by the CIF comes in the wake of the opening Parliament last week and expressly calls for legislation of a National Construction Council. 

FNB leading the way in digital banking adoption

WINDHOEK - FNB says its customers are increasingly embracing digital banking channels in order to bank in a convenient and affordable manner. The bank revealed that over the last year the highest number of customers that migrated to the FNB Banking App, Online Banking and Cellphone banking for day-to-day banking were recorded. 

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FNB Far North gives back

WINDHOEK – First National Bank’s Far North Cluster recently handed over sanitary pads to disadvantaged girls in various schools, as well as refuse bins to various northern towns.  

Investors keen to set up charcoal plant to add value to “black gold”

WINDHOEK - In line with the Minister of Industrialisation, Trade and SME Development, Tjekero Tweya’s recent observation that the charcoal industry must be reformed to add more value locally, AM Consulting in Windhoek say they have investors who are looking for a farm of between 5 000 to 10 000 hectares and whose owner is interested in de-bushing/bush thinning.

AfDB to release African economic outlook this week

WINDHOEK - The African Development Bank is expected to present the 2019 edition of its flagship African Economic Outlook (AEO) report on the sidelines of the 32nd Ordinary Session of the Assembly of the African Union in Addis Ababa, Ethiopia, on Friday, February 8, 2019. The African Economic Outlook 2019 will be available in English, French and Portuguese.

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Fishing and transport to benefit mostly from stable fuel prices

WINDHOEK – Two consecutive and substantial fuel price decreases in December 2018 and January 2019, combined with stable prices confirmed by the Ministry of Mines and Energy for February 2019, bring relief to not only motorists, but to all businesses and consumers at a time when the economy is still not gaining much momentum. 

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Outstanding Roads Authority millions needed for maintenance and new roads

WINDHOEK – The Roads Authority (RA) yesterday said that more than N$250 million owed to Namibia Traffic Information System (NaTIS) does not have a direct impact on its operations but that all the collected outstanding fees will be channelled towards maintaining the country’s road network and the construction of new roads. This funding will be done via the Road Fund Administration, which falls under the Ministry of Finance.

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How to ensure your donation has maximum impact

WINDHOEK - “Over the past decade and even before that, sponsorships, donations and CSI initiatives have undergone dramatic changes and this philanthropy landscape keeps on changing. Today, more than ever, CSI managers and donors identify with a wide range of social problems and understand the importance of solving and prioritising strategic

GIPF members urged to update beneficiary nomination forms

WINDHOEK - The Government Institutions Pension Fund (GIPF) has urged all members to visit their Human Resource officers from their respective institutions, to update their Beneficiary Nomination forms. Members must ensure that the names and date of births of their dependants (beneficiaries) and nominees accurately appear on the forms as they reflect on their national documents.

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Are we safe and secure?

The world used to be a dangerous place. From roaming animals to unsafe food, untested products and cars without seatbelts or hardly any safety features at all. Riding motorbikes without a helmet was the most natural thing and most of us reading this can remember riding our bicycles without a helmet. You never see a kid without a helmet on a bike anymore.

Air Namibia increases domestic and regional flights

WINDHOEK - Air Namibia has confirmed schedule changes and frequency increases to a number of flights effective March 30, in an effort to improve its service offering on domestic and some regional routes. The national airline will increase capacity on routes where it often has high levels of spillage and is also introducing flights on days of  the week most suited to clients’ requirements. 

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Targeted action still needed despite expected moderate growth - Calle

WINDHOEK – After surviving negative economic growth for the last two years, the Minister of Finance expects the worst effects of the recession to be over but has cautioned that the prolonged slump still calls call for comprehensive and targeted actions by both government and the private sector despite the expectation of moderate growth in the Namibian economy this year. 

Commission warns of monopoly in automotive industry

WINDHOEK – Following a 2018 study of the local automotive industry, the Namibian Competition Commission (NaCC) says the biggest concerns in respect of competition and market structure were found in the application of franchising in the vehicle retail market, more specifically the market for new vehicle sales, whereby one company is given exclusive rights by the franchisor to sell a certain brand in the entire country.

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Calle clamps down on corruption

WINDHOEK – During 2018, the Ministry of Finance uncovered more corruption cases within its corridors compared to the previous year. Addressing his staff yesterday, Minister of Finance, Calle Schlettwein, revealed that while only six corruption cases were exposed in 2017/18, this year, the figure increased to more than double with 15 corruption cases discovered. 

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Ugly pay spat erupts between Namibian and Italian companies

WINDHOEK – An ugly spat between a local company, Khomas Civil Construction (KCC), and an Italian company called the Enertronica Group (EG), is brewing as accusations and counter-accusations are being thrown about by the two entities. EG, last year erected a five-Megawatt solar power plant in the Erongo Region for which it employed KCC to complete specific construction work. 

Low growth expected for 2019 – McGregor

WINDHOEK – While the Namibian economy, which is still reeling from the effects of a prolonged recession, is expected to eventually return to growth sometime during the course of 2019, a local economist has cautioned that any rebound into positive territory will still be low growth of less than one percent. In fact, the growth expectation is for a mere 0.8 percent, according to Robert McGregor an economist at Cirrus Capital (Pty) Ltd. 

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Gearing up for the 2021 Census

The Namibia Statistics Agency, as we should all know by now, is the central statistics repository of the state and hence responsible for the collection, production, dissemination and analysis of official statistics. What drives the Agency is the need to ensure that the statistics produced are relevant, accurate, reliable and timely in order to influence decision and policy making. 

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Africa’s top 10 tech start-ups selected for accelerator programme

WINDHOEK - Airbus and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have announced the top 10 African tech start-ups that will take part in the latest Airbus Bizlab #Africa4Future accelerator programme. They were selected after an open public pitch event in front of experts, potential investors, the media and other stakeholders in Kenya’s capital city. 

No passengers for Nam transport to Zim following fuel protests

WINDHOEK – Public transportation, both via road and air, is still readily available from Namibia to Zimbabwe despite the political and civil unrest that flared up in the southern African nation this week. However, while transportation companies say they are ready to drive and fly, most of the buses destined for Zimbabwe are practically empty and flights under-booked as travellers seem to be waiting for the unrest to subside before travelling to the troubled country. 

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NWR makes travelling affordable

WINDHOEK - Quite often the chance to travel is dismissed once one considers the costs associated with it. When an individual considers visiting a new place, the first question that comes to mind is; How expensive is it going to be?

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Back-to-school financial stress

WINDHOEK – Most parents know that back-to-school is one of the most expensive times of the year, but it is estimated only half of parents make an effort to establish a back to school budget. Parents are well aware that that back-to-school shopping poses a financial burden on their families. A whopping percentage of parents spoken to claim that getting kids ready for a new year of classes leaves them with serious anxiety and shopping for necessary school items is the worst cause.

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Calamitous ceiling collapse at Country Club caused by strong winds

WINDHOEK – A disastrous ceiling collapse on Tuesday at the entrance of the Windhoek Country Club Resort and Casino (WCCR) has been attributed to strong winds. Fortunately, no staff members or guests were injured when the entire ceiling of the VIP drop-off area came loose and crashed onto the floor of the entrance at around 14h00.

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Eiseb succeeds pioneering Ndjaba as NDTC’s new CEO

WINDHOEK - The Namibia Diamond Trading Company (NDTC) Board of Directors have confirmed the retirement of Shihaleni Ellis Ndjaba, Chief Executive Officer (CEO) of NDTC, who retired at the end of December 2018, following 11 years of dedicated service to the company. He is succeeded by Brent Eiseb, who previously served at strategic level as Senior Manager, Sales & Marketing. Eiseb’s appointment is effective from January 01, 2019.

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Instill a saving culture into your children

WINDHOEK – Parents play a key role in the financial literacy of children. As they prepare their children for the New Year’s first school semester, the subject of money between the parent and the child will present itself one way or another. For a parent, this should be an opportunity to teach their children the importance of saving money for a brighter financial future.

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DBN advises to borrow wisely for effective assets and operations

WINDHOEK - Jerome Mutumba, Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, says that as the economy begins to improve entrepreneurs will find greater confidence to establish SMEs, and existing SMEs will seek finance to grow. However, he says, confidence should walk hand in hand with responsible borrowing.

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Africa still leading the way on drone usage - IATA

GENEVA – Developments within the drone or Unmanned Aerial Systems (UAS) industry, is moving at a rapid pace in multiple directions as service providers scramble to provide low altitude, high altitude, recreational and commercial drone services. And, according to the Head of Cargo Transformation at the International Air Transport Association (IATA), Celine Hourcade, Africa continues to lead the way in using drones to deliver goods. 

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Increased volumes give buyers more traction in housing market

WINDHOEK - “After enduring some of the highest property price appreciation in the world, the tide has turned, with buyers firmly in the driving seat and dictating terms as increased volumes have provided prospective buyers with much needed options,” says Namene Kalili, FirstRand Namibia Group Economist. 

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African airlines to make N$4.2 billion loss in 2019

GENEVA - The International Air Transport Association (IATA) forecasts that African airlines are to make a loss of more than N$4.2 billion (US$300 million) in 2019, which is in stark contrast to the rest of the global airline industry that is anticipated to report a net profit of close to half a trillion Namibia dollars (US$35.5 billion) next year. 

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Global aviation approaching infrastructure crisis - IATA

GENEVA - It is not only Namibia or the Hosea Kutako International Airport that is currently experiencing a major aviation infrastructure challenge as the International Air Transport Association (IATA) yesterday revealed that the industry, globally, is approaching an infrastructure crisis. 

Capricorn’s stable outlook credit rating confirmed by GCR

WINDHOEK - Global Credit Ratings (GCR) has affirmed the national scale ratings assigned to Capricorn Investment Group Limited and Bank Windhoek Limited of AA (NA) and A1+(NA) in the long-term and short-term respectively; with the outlook accorded as stable. Furthermore, Global Credit Ratings has affirmed the long-term South African national scale (Rand) issuer rating of A+(ZA) assigned to Bank Windhoek Limited; with the outlook also accorded as stable.

Bank Windhoek issues first Green Bond

Bank Windhoek reached a milestone this week Wednesday when it announced the successful issuance of Namibia’s first Green Bond. This achievement positions Bank Windhoek as the first local commercial bank to issue a Green Bond not only domestically but across the Southern African region. 

Central bank leaves repo rate unchanged at 6.75%

The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday revealed that the Repo rate, the rate at which commercial banks borrow from the central bank which in turn determines interest rates, has been left unchanged at 6.75 percent. The MPC said the rate remains appropriate to maintain the one-to-one link between the Namibia Dollar and the South African Rand, while supporting domestic economic growth.

New fresh Bahri season set to increase output

WINDHOEK - Desert Fruit Namibia is one of only a handful of known producers of Fresh Bahri Dates in the Southern Hemisphere, and these dates, while relatively unknown in Europe and the US, remain a sought-after delicacy in the Middle East, with rising demand from the Muslim and Asian markets. 

Namibia scoops two wins at startup awards

WINDHOEK - Out of the 15 categories, Namibia brought home two awards from the recent Southern Africa Startup Awards (SASAwards), which was held for the first time to celebrate and recognise the spirit of innovation and achievement in the startup ecosystem in the SADC region. SASA Namibia was represented by 11 regional winners from nine startups at the SASAwards grand finale that took place on 21 and 22 November 2018 in Johannesburg, South Africa.

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NWR looks to Ghana to boost local tourism

WINDHOEK - Namibia Wildlife Resorts (NWR) recently returned from marketing and networking session in Ghana, aimed at luring Ghanaian visitors to their resorts. The event took place on November 30, 2018 in conjunction with Air Namibia’s local representative who gave attendees the benefits of flying with Air Namibia. 

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NamPower pays over N$60m dividend to government

WINDHOEK – NamPower has declared a dividend of N$60.7 million to its shareholder, the government yesterday. The dividend was approved at the electricity utility’s most recent annual general meeting where the NamPower board of directors decided to declare the dividend for the financial year ended June 30, 2018.

Board appointed at revenue agency’s D-day draws closer

WINDHOEK – The much-awaited operationalisation of the Namibia Revenue Agency (Namra) continued to gain momentum yesterday. With the announcement of its Board of Directors before the semi-autonomous agency, it is scheduled to commence at the beginning of March 2019. Namra was established at the end of 2017 with the promulgation of the Namibia Revenue Agency Act after Cabinet approval in 2013, and will replace the current Inland Revenue Department in the Ministry of Finance. 

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Schlettwein announces PPP committee members

WINDHOEK – The Public Private Partnership (PPP) Committee, which will play a central role in the monitoring, evaluation, and implementation of PPPs, was yesterday announced by Finance Minister, Calle Schlettwein. Economic analysts believe that PPPs could provide amicable solutions to infrastructure development and economic growth in the domestic economy that is struggling to rebound from a recession. The main purpose of PPPs is to leverage private capital for national infrastructure developments. 

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Namibia’s financial capability increased by 10%

WINDHOEK - The Namibia Financial Capability Survey results were recently released at the Bank of Namibia, indicating that the average overall Namibia Financial Capability Survey for 2017 was 52.94 percent, which is a 10 percent increase, compared to 2013. The survey also showed that financial knowledge increased with 0.07 percent, and financial behaviour with 18.51 percent.

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Local procurement forum slated for next week

WINDHOEK – The Namibia University of Science and Technology (Nust), in conjunction with Engineers Without Borders Canada – Mining Shared Value (EWB-MSV), and the Canadian International Resources and Development Institute (CIRDI) is scheduled to host a forum on supporting effective mining local procurement strategies and best practices. The forum is slated for next week Wednesday at the NUST Hotel School in Windhoek. 

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Job losses in mining sector concerns Alweendo

WINDHOEK – Minister of Mines and Energy, Tom Alweendo, is concerned about recent job losses within the mining sector and has called on Namibian mining executives to brainstorm on how to retain employment for Namibians as well as to create prospects for unemployed graduates to benefit from the country’s extractive resources. Alweendo expressed his concern during a briefing with mining industry executives in Windhoek yesterday. 

Navachab gets new managing director

SWAKOPMUND - QKR Cooperation Limited has appointed George Botshiwe as the new Managing Director of the QKR Namibia Navachab Gold Mine, effective as of November 01, 2018. Botshiwe replaces Johan Coetzee who served as the managing director of the mine for the past five years.

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FirstRand Namibia and CHANGE help ex-offenders

WINDHOEK - The FirstRand Namibia Foundation Trust re-iterated its financial commitment and pledged more than N$364 000 to CHANGE, highlighting the continued commitment towards education and skills development programmes. Amongst its various courses, CHANGE provides a fashion design and tailoring programme, as well as business training.

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Epangelo wants to increase government’s 3% share in Rössing Uranium

WINDHOEK – Epangelo Mining, the State-owned mining company established in 2008 to occupy a significant position in major commodity businesses, inclusive of uranium, has confirmed that while it was not offered a first-right of refusal for the Rio Tinto shares in Rössing Uranium, because it is not a direct shareholder in the mine, it is in fact interested in increasing government’s three percent stake in Rössing Uranium. CEO of Epangelo Mining, Eliphas Hawala, yesterday explained to New Era that only the government is entitled to receive a first right to refusal offer because government is a direct shareholder in the mine.

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How to beat the Janu-worry blues

WINDHOEK - The festive season is a time of high risk for impulse spending – buying something because you see it, not because you need it. In light of Namibia’s economic downturn, fostering healthy spending behaviour has been top of mind for their citizens. Martha Murorua, Executive Officer for Consumer Banking at FNB Namibia, shares her thoughts.

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Young entrepreneur encourages youth to read

WINDHOEK – Vna Native Foods, the relatively young business that last week walked away with the one-million-dollar prize at the Development Bank of Namibia’s 2018 Innovation Awards, is determined to become a household brand in the country.

MTC and Huawei’s LTE solution doubles network capacity

WINDHOEK - MTC Namibia partnered with Huawei to put the 4T6S solution into large-scale commercial use. The area selected to benefit from this solution is the central business district of Windhoek. This move is a conscious decision by MTC to efficiently improve network capacity and overall user experience while helping to slash site power consumption and total cost of operation. 

NWR reflects on 2018 as it continues to cut costs

WINDHOEK – As the year is quickly nearing its  end, Namibia Wildlife Resorts (NWR) is reflecting on some of the progress it made in 2018. NWR emphasises that the economic challenges facing the country played a significant role in how the company fared but notes that these trying times show how resilient the company is.

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The benefits of sustainable investments

In many first world economies, the effects of global warming continue to manifest as a business reality. In response to this crisis, the Namibian banking sector, in support of the Millennium Development Goals, is mandated to play a vital role in accelerating the local market’s transition to a lower-carbon energy future. 

Prosperity enhances insurance product range

WINDHOEK - The Prosperity Group recently hosted brokers, shareholders, senior management and the media at the new San Karros Daan Viljoen Mountain View venue. The aim of the cocktail event was to showcase the new conference and entertainment venue within the Daan Viljoen Park, while at the same time introducing the Prosperity Lifecare Insurance product range for 2019, with some new additions and tweaks. 

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MTC reaches milestone of 2.5 million active subscribers

 WINDHOEK - Mobile Telecommunications Company (MTC) has announced that as of  November 9, 2018 it has reached the 2.5 million active subscribers mark on its books. This is quite a remarkable feat considering the Namibian Statistics Agency estimates that the entire Namibian population is 2.413 million people. MTC’s calculation is based on an active subscriber’s definition by global industry standards, meaning that an active SIM subscriber implies that the SIM card should have been active in the last three months to be defined as such. An inactive SIM card less than three months is not considered be as an active SIM card. 

DPO receives payment facilitator licence in Namibia

WINDHOEK – Direct Pay Online (DPO) Group, one of the leading online payments service provider in Africa, announced that it obtained a Payment Facilitator licence from the Payments Association of Namibia (PAN) at the end of September. The licence, which took them about a year to secure, enables the DPO Group to roll out its payment services directly to Namibian businesses and entrepreneurs.

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Capricorn Group equips management

WINDHOEK - Capricorn Group, Bank Windhoek’s holding company, recently launched its seven month Management Development Programme (MDP), in partnership with the University of Stellenbosch Business School (USB).

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SSC avails N$2 million for NUST to train Keetmanshoop youth

WINDHOEK - A service level agreement signed this week between the Namibia University of Science and Technology (NUST) and the Social Security Commission (SSC) will facilitate skills training in gemology, jewellery design and entrepreneurship for the country’s unemployed youth.  The agreement, for which N$2 million has been reserved by SSC, was signed on Tuesday by Dr Tjama Tjivikua, NUST vice-chancellor (pro tem), and SSC chief executive officer, Milka Mungunda. 

Educated consumers more aware of their rights - Namfisa

WINDHOEK – Consumers within the financial services sphere are becoming more and more educated particularly with regard to knowing and understanding their rights as customers. This, according to the Namibia Financial Institutions Supervisory Authority (Namfisa), is evident from the number of consumer complaints that have been steadily increasing on an annual basis. 

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Namibia’s Green clinches potential deals at AfricaCom Expo

CAPE TOWN – A Namibian corporate Information Communication Technology (ICT) solutions provider, Green Enterprise Solutions, also known as Green, last week clinched significant potential deals at the just ended AfricaCom Expo held at the Cape Town International Convention Centre (CTICC). This is according to the company’s Marketing and Communication Coordinator, Agnes Nyirenda.  

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PowerCom to begin construction of new tower at Kuisebmond

WINDHOEK - PowerCom Pty Ltd is currently in the process of constructing a new 30m Lattice tower at Kuisebmond which will be fully commissioned by January 2019 as part of its commitment to infrastructure investment. Demand for tower space has continued to grow in Kuisebmond, as well as across Namibia. The tower infrastructure company is responding to these demands and beginning their 2019 construction schedule in Kuisebmond.  

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Huawei Launches ICT Talent Ecosystem Program in Sub-Sahara Africa

CAPE TOWN –There is critical shortage of skilled ICT professionals in Sub-Saharan Africa, which hampers the growth of a thriving ICT sector, which underpins economic growth.  To address this skills shortage, Huawei launched an ICT Talent Ecosystem Programme in Sub-Saharan Africa at Africacom 2018 - the largest telecommunications event in Africa, being held Cape Town. 

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Vivo Energy focusses on HSSE importance

WINDHOEK - Vivo Energy, the market-leading company that distribute and markets Shell branded fuels and lubricants in Africa, held its annual Safety Day on Thursday. The Safety Day was an opportunity for all parties at Vivo Energy to refocus on the importance of Health, Safety, and Security & Environment (HSSE). 

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Growing concern over Angolan fuel smuggling at Oshikango

WINDHOEK - The Ministry of Mines and Energy says it has noticed with growing concern the illegal activities taking place at the Oshikango border post in the Ohangwena Region where large amounts of illegal fuel are smuggled into the country for resale. Angolan petrol sells for just over N$6 per litre and diesel for about N$7.30 per litre compared to well over N$14 per litre in Namibia. 

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Slowdown in housing prices brings inflation down slightly

WINDHOEK - The Namibia Statistics Agency’s (NSA’s) latest Consumer Price Index and inflation rate estimates for the month of October 2018 indicate that the annual inflation rate slowed to 5.1 percent compared to 5.2 percent recorded in October 2017, registering a decrease of 0.1 percentage points. Based    on October 2018 price movements, the monthly inflation rate stood at 0.4 percent compared to 0.8 percent registered a month earlier. 

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Otavi Steel plant signs with Nedbank for N$2.7 billion project

WINDHOEK - Nedbank Namibia Corporate and Investment Banking (CIB) and Noric Otavi Steel Processing (Pty) Ltd this week signed an agreement for Nedbank to act as the lead arranger for the Otavi Steel Manufacturing Plant project in Otavi. According to the agreement, Nedbank will assist with the financial structuring of the project and facilitate the raising of both quasi-equity and debt capital for the N$2.7 billion project.

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Mungunda bags IPM MD of the Year 

WINDHOEK - Vetumbuavi Mungunda, the Managing Director of Standard Bank Namibia, was awarded with the Institute of People Management’s MD of the Year Award at its recently concluded IPM Excellence Gala Dinner Awards. The glamorous event took place at Hilton Hotel in front of a packed audience on Tuesday.

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NWR pays N$60 million of DBN loan

WINDHOEK - Namibia Wildlife Resorts (NWR) has to date paid N$60 million in interest to the Development Bank of Namibia (DBN), as interest on the N$120 million loan the company borrowed in 2006, Managing Director Zelna Hengari said.

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Eldorado SS receives 10 computers

WINDHOEK - Last week the FirstRand Namibia Foundation Trust handed over 10 refurbished computers to the Eldorado Secondary School.  Principal Salwa Khedr said most of the computers will be used to increase learner intake in the ‘office practice’ subject, while two will be used in the school library. 

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Afrox Leadership Academy aims to equip youth with necessary skills 

WINDHOEK - The inaugural Afrox Leadership Academy programme culminated in a gala dinner attended by First Lady Monica Geingos, in Windhoek on Friday, November 9, at Safari Hotel. The Afrox Leadership Academy was birthed out of the desire by the management of Afrox Namibia to identify the best possible method for intervention in skills development and poverty eradication in Namibia.

Union gets strike approval after wage deadlock with NWR 

WINDHOEK – Namibia Wildlife Resorts (NWR) and Namibia Public Workers Union (Napwu) have reached a deadlock regarding the proposed salary increment for its employees. The deadlock has resulted in Napwu receiving a certificate of unresolved dispute that provides them with the mandate to go on strike after the rules of engagement are agreed between the two parties.

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Fishing industry applauds TACs as it awaits new fishing rights

WINDHOEK – The Confederation of Namibian Fishing Associations has welcomed the Cabinet approved Total Allowable Catch (TAC) for hake of 154 000 metric tons for the 2018/2019 fishing season, which begins November 1 and ends on September 30, 2019. According to chairman of the confederation, Matti Amukwa, the TAC, which is recommended by fisheries scientists in the Ministry of Fisheries and Marine Resources, is much like an individual’s salary in that you can get by what you have but you would always welcome more. 

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‘Securing your legacy’ themes Nedbank Private Wealth launch

WINDHOEK - Using wealth to bring about a positive change to the world as well as leaving behind a legacy for your family and the next generation, were the underlining themes of the Nedbank Namibia Private Wealth official launch which took place on Wednesday, 7 November at the Am Weinberg Estate in Klein Windhoek.

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Namibia can become self-sufficient in terms of energy production

This week New Era’s Senior Business Reporter, Edgar Brandt (EB), interviewed the Business Development Manager of Finnish energy firm, Wärtsilä, Mark Zoeters (MZ) who formed part of a Finnish business delegation that recently visited Namibia for a business seminar themed ‘Finland World Ideas’. The seminar was organised by the Finnish embassy.

NamPost inaugurates new warehouse

WINDHOEK - “I could not wish for more; the infrastructure is ready and it is now up to NamPost to utilize it maximally and create efficiencies that impact positively on both the customer and the staff of NamPost.” These sentiments were expressed by Nangula Hamunyela, chairperson of the Namibia Post Limited Board, when he officially inaugurated NamPost’s new courier warehouse on Wednesday. 

Stay vigilant and bank safely online

WINDHOEK - Since the introduction of digital channels, be it on a PC or mobile phone, fraudsters have targeted unsuspecting users of these channels. This ranges from incidents related to phishing, card swopping, skimming, ATM fraud, and identity theft, 419 scams and sim swopping.

Global oil prices and weakening Nam Dollar push fuel up again

WINDHOEK  – Motorists will have to brace themselves again on Wednesday this week when the recent warnings by economists that the fuel prices will continue to rise will become reality. Minister of Mines and Energy. Tom Alweendo, confirmed in a statement yesterday that Petrol will increase by 50 cents a litre while all grades of Diesel will go up by 70 cents a litre. 

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Etosha Fishing wins big at National Quality Awards

WINDHOEK - Etosha Fishing Corporation asserted its position as a leading producer of quality canned fish products at the 6th Annual National Quality Awards hosted by the Namibian Standards Institution (NSI) in October. The company once again received top honours by winning three of the five large enterprise categories, including Company of the Year, Exporter of the Year and Product of the Year, a feat it managed in both 2015 and 2017. 

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Namibia down one place to 107 in WB’s Doing Business Report

WINDHOEK - The World Bank’s (WB) Doing Business Report 2019, released at the end of October 2018, shows Namibia dropped one rank from 106 to 107 out of a total of 190 countries. The report ranks Namibia as 7th out of 14-member states of the Southern African Development Community (SADC) just like last year. However, while five SADC member states improved the ranking by up to five places (Mauritius) and one country maintained the ranking (South Africa), most SADC countries dropped by up to seven places (Tanzania).  

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Minimum wage for domestic workers up by 4.15%

WINDHOEK – The ministry of labour has announced new minimum wages for domestic workers, which came into effect on October 1, 2018. The new wages for domestic workers were determined by a one percent increase coupled with the average inflation rate on basic items. 

Stage is set for lower housing demand as residential market struggles continue

WINDHOEK - In the latest housing index by FNB Namibia, Group Economist Namene Kalili concluded that the stage has been set for lower housing demand. “This can be based on economic growth stagnating, consumer confidence waning, increased affordable housing delivery, increased land delivery, rising interest rates, rising home ownership costs and the economy still shedding jobs.”

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Bank Windhoek recognises central region estate agents

WINDHOEK - Aqua Real Estate was awarded the top estate agent award in both residential and commercial categories for the central region at a glittering Bank Windhoek Central Estate Agents Awards in Windhoek last week. Virgo Real Estate and Hot Properties took the second and third spot respectrively.

Finnish Economic Affairs minister accompanies visiting business delegation

WINDHOEK - Mika Lintilä, the Minister of Economic Affairs of the Republic of Finland, who arrived in Namibia on Saturday, is visiting the country for a week. The visit is organised in collaboration with Team Finland and Business Finland and includes about 50 industry leaders from 32 Finnish companies and institutions, making it one of the biggest business delegations of Finland so far accompanying the minister of economic affairs abroad.

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Black ownership rules discarded for mining exploration licenses

WINDHOEK - International media from Reuters to CNBC was abuzz this weekend with news that Namibia has scrapped the requirement for partial black ownership and management of companies seeking mining exploration licenses. The Chamber of Mines said on Friday the requirements had been set aside by Mines and Energy Minister, Tom Alweendo, in a letter to the group. 

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Relief at no new tax amendments in mid-term budget

WINDHOEK – While no new taxes were proposed yesterday by Finance Minister Calle Schlettwein, he mentioned that his ministry had made detailed income tax proposals available for further consultation. According to him, concerns were raised that some of the proposed changes will put additional strain on the already weak economy instead of stimulating growth. 

Pension funds could boost economy through infrastructure fund

WINDHOEK - “Investing in scary times” was the theme of an event held by Eos Capital, a private equity manager, in Windhoek on Tuesday. Speaking at the event was the CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Tanya van Lill, with the key message that pension funds in Namibia can find attractive and safe returns during these times by investing in private equity and infrastructure funds while also helping to stimulate the economy. 

Repo rate left unchanged at 6.75 percent 

WINDHOEK - In these trying economic times some relief for consumers came yesterday when the Bank of Namibia’s Monetary Policy Committee (MPC) left the repo rate unchanged at 6.75 percent. According to the MPC, this rate is appropriate to maintain the one-to-one link between the Namibia Dollar and the South African Rand, while supporting domestic economic growth. The repo rate is the rate at which commercial banks borrow money from the central bank and in turn determines interest rates charged  to bank customers. 

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Championing ICT through the National Digital Strategy

As the 5th National ICT Summit draws to a close, we can look back on an event that has grown and matured over the years. With stakeholders from all sectors, taking part and discussing ICT and how it can assist in propelling our great nation forward to growth and prosperity and affect real socio-economic change. 

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Armas becomes a vital cog in Namibia’s logistics machine

WINDHOEK - With Namibia’s role as a logistics hub in the southern Africa region becoming more apparent, business and job opportunities increased exponentially in Namibia’s harbours and transport sector. Andreas Armas of Andreas Armas Stevedoring CC and Misty Bay CC says he runs successful businesses in this tough sector.

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Did you earn your bonus?

The end of another year is rapidly approaching and all thoughts are on December, the festive season is the season of giving. This means bonuses, 13th cheques are on the way and some employers even give a 14th cheque.

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Competition Commission offers leniency for cartel behaviour

WINDHOEK - In an effort to curb anti-competitive behaviour amongst Namibian companies, the Namibian Competition Commission (NaCC) yesterday launched its Corporate Leniency Programme (CLP). The CLP provides a framework for businesses engaged in cartel conduct to report themselves to the Commission and hand over evidence regarding cartel conduct in return for lenient treatment. 

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Bank of Namibia scoops Best Company to Work For two years in a row

WINDHOEK - For the second time in a row, the Bank of Namibia has clinched the Deloitte Best Company to Work For Award , having won the award also in 2017. The bank was awarded a Platinum Seal of Achievement in the Small/Medium Size Company Category of companies with fewer than 500 employees at an award ceremony that took place on Wednesday, October 17.