• February 21st, 2020

Business

Made in Namibia cosmetics exhibit at German trade fair

The Namibia Network of the Cosmetics Industry (NANCi) with the support of the joint project between the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), Promotion of Business Advisory and Economic Transformation Services (ProBATS), and the Ministry of Industrialisation, Trade and SME Development sent a delegation of 10 SMEs to exhibit Cosmetics Made in Namibia products at the Vivaness 2020 organic and natural cosmetics trade fair. The event took place in Nürnberg, Germany from 12 to 15 February.

Namfisa and NTA to introduce training for insurance intermediaries

The Namibia Financial Institutions Supervisory Authority (Namfisa) and the Namibia Training Authority (NTA) have embarked on a project through which insurance intermediaries (agents and brokers) rendering financial services to the public (policyholder/potential policyholder) will soon be subjected to a compulsory market entry examination.

Namfisa and NTA to introduce training for insurance intermediaries

The Namibia Financial Institutions Supervisory Authority (Namfisa) and the Namibia Training Authority (NTA) have embarked on a project through which insurance intermediaries (agents and brokers) rendering financial services to the public (policyholder/potential policyholder) will soon be subjected to a compulsory market entry examination.

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CRAN roped in for fibre optic cable dispute

The Communications Regulatory Authority of Namibia (CRAN), without necessarily responding to all the matters raised, has issued a statement on the issue pertaining to the laying of fibre optic cables in the municipal boundaries of the City of Windhoek by Paratus Telecommunications (Pty) Limited. 

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Namdia improves gross profit by 17%

Despite an extremely challenging year for the Namibian economy coupled with the introduction of synthetic diamonds, Namib Desert Diamonds (Namdia) outperformed its target by an increase of 17% in gross profit compared to the previous financial year. 

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Bank Windhoek invests in women through Katuka

Bank Windhoek last week announced its partnership with the Katuka Mentorship Programme. At the event, Bank Windhoek’s Head of Corporate Affairs Hayley Allen said empowering women who are in business is the reason for supporting the Katuka Mentorship Programme and it is the perfect fit for the bank. 

Nezette takes over the helm of Etosha Fishing

Etosha Fishing Corporation has confirmed the appointment of Nezette Beukes as its new managing director (MD), effective 1 January 2020. Beukes previously held the position of financial director in the company from 2015 and has been acting in the position of MD since the resignation of its former MD Pieter Greeff in December 2018. 

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PowerCom commences tower construction at Walvis Bay

PowerCom Pty Ltd has commenced with the planned tower construction in Walvis Bay Extension 17. A recent ground-breaking ceremony confirmed the tower’s commencement as well as the company’s infrastructure CAPEX investment rollout for 2019/2020, which seeks to increase the company’s footprint and asset base to best service ICT players and offer last mile connectivity.  

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Namibian truckers frustrated by state of Zambian road

As cargo volumes continue to increase on the Walvis Bay-Ndola-Lubumbashi Development Corridor (WBNLDC), Namibian truckers continue to face an uphill battle once they enter Zambia, as the Livingston to Sesheke road leading to Lusaka and beyond to the Democratic republic of Congo remains in a dilapidated state.

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Opinion: NSA to host Census Resource Mobilisation Conference 

In 2021, Namibia will hold its 4th Population and Housing Census. The census is better known for counting people; however, the statistics that a population and housing census provides is much more than just counting people. Namibia’s first census was held in 1991, the second in 2001, the third in 2011 and the next one to be held in 2021, as indicated above. 

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Namibian IPP offering 120MW supply to Eskom

WINDHOEK - Namibian independent power producer Arandis Power says it is offering the South African utility Eskom 120MW of flexible power generation capacity within the framework of the Request for Information (RFI) that was issued on 13 December 2019 by the South African Department of Mineral Resources and Energy in respect of a “Risk Mitigation Power Procurement Programme”. 

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Platinum price per ounce increases

WINDHOEK – The full-year price per platinum ounce for the basket of metals sold increased by 27% to US$2,819/ounce compared to 2018 due to 48% and 73% price increases in palladium and rhodium, respectively. Anglo American revealed these figures last week.

In //Kharas we mean business - Kasete

KEETMANSHOOP – Despite losing more than 50 percent of its budget allocation due to government’s austerity measures during the previous financial year, the //Kharas Regional Council succeeded in awarding all its capital project tenders accordingly.

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RA moves on to final stretch of Whk to Okahandja road

WINDHOEK – The Roads Authority (RA) yesterday celebrated the completion within the stipulated timeframe and within budget of Section 4A of one of the busiest roads in the country, namely the freeway between Windhoek and Okahandja. Section 4A is comprised of 27.6 km of road which has now also been upgraded from a dual carriageway to a four-lane freeway. 

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Team Namibia and Finland assist SMEs to run viable businesses

WINDHOEK – At the conclusion of Team Namibia’s entrepreneurial training programme, which was funded by the Embassy of Finland to the value of N$1.76 million, the member-based organisation honoured the owners of 16 outstanding Katutura-based small and medium enterprises (SMEs). To this end an award ceremony was  held at Xwama Cultural Village in Katutura, Windhoek on Thursday, 23 January 2020.

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Fresh grapes exports improve to N$839 million

WINDHOEK – Good news for grape producers is that despite a downturn in the global economy, Namibian fresh grapes exports for 2019 continued to increase, recording a value of close to N$840 million and over 33 million kg in net-weight shipped out. This is more than double the revenue generated by fresh grapes exported in 2015, which produced around N$407 million in sales. 

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No respite expected for small businesses this year – Cirrus Securities

WINDHOEK – The Economic Outlook for 2020 by Cirrus Securities, a company started in 2017 with a focus on corporate advisory, capital raising and research, predicts that small businesses in Namibia are expected to remain under pressure during 2020. As a result, and depending on the severity of new government policies, Cirrus expects that many small businesses will either close their doors, or lay off further workers.

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SACU and UK sign MoU

WINDHOEK - Executive Secretary of the Southern African Customs Union (SACU) Paulina Mbala Elago and the United Kingdom’s director for economic diplomacy at the Foreign & Commonwealth Office (FCO), Lewis Neal, recently signed a Memorandum of Understanding (MoU) to support implementation of the ongoing SACU Customs Modernisation Programme.

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Rental index records smaller contraction

WINDHOEK - FNB Namibia’s latest rental index report, which was released yesterday, confirms that growth in rental prices remains in contractionary territory with the FNB Rent Price Index, recording a contraction of 1.9 percent at the end of September 2019, compared to a contraction of 8.6 percent over the same period last year.

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FNB House Price Index plunges into negative

WINDHOEK - In the latest FNB Residential Property Report, FNB’s Group Economist, Ruusa Nandago, states that the FNB House Price Index plunged further into negative territory at the end of September 2019, reaching a historic low of -5.1 percent y/y compared to 2.0 percent recorded over the same period last year.

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Windhoek East tackles unemployment

WINDHOEK- Khomas regional council’s Windhoek East constituency office has once again demonstrated that it remains at the forefront of driving self-employment in its community when owners of income generating projects recently received equipment or materials worth N$150 000 as part of efforts in fulfilment of government promise of assistance to the citizens in accordance with the policy of job creation strategies in all the constituencies.

Air Botswana, TAAG sign IATA gender diversity pledge

GENEVA – While the International Air Transport Association’s (IATA) 25by2025 campaign to address gender balance in civil aviation is gaining traction three months after its launch, with 59 airlines already having signed up, only two African airlines have committed to the initiative, namely Air Botswana and the Angolan airline, TAAG. 

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Grove Mall rebrands

WINDHOEK – The Grove Mall of Namibia has announced a step in a new direction, including making slight changes to its name, while sporting new colours.

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Structural problems haunt African airlines

GENEVA - Similar to 2019 performance, African airlines are again expected to make a massive collective loss of US$200 million (about N$3 billion) in 2020 mainly due to structural problems of high costs mostly as a result of government taxes and fees as well as low load factors.

NWR, Napwu sign revised recognition agreement

WINDHOEK - Namibia Wildlife Resorts (NWR) and Namibia Public Workers Union (Napwu) have announced the finalisation of their revised recognition agreement that follows the recent 2018/2019 wage negotiations that were successfully concluded by the two parties in September 2019.

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Fuel prices remain unchanged for December

WINDHOEK – The Ministry of Mines and Energy has confirmed that fuel pump prices for December will remain unchanged, as prices at the entry port of Walvis Bay remain stable at N$13.05 per litre for 95 Octane Unleaded Petrol and N$13.63 per litre for Diesel 50ppm. 

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WCCR hands over N$6 million dividend to government

WINDHOEK – The Windhoek Country Club Resort and Casino (WCCR) handed over N$6 million in preference shares to its shareholder, the government, through the ministries of public enterprise, as well as environment and tourism yesterday. The event took place at the Country Club grounds, where representatives from the government met the hotel’s management team. 

CHANGE graduates develop skills, gain meaningful employment

WINDHOEK - At the recent CHANGE training graduation, FNB Namibia, through the FirstRand Namibia Foundation, handed over financial support of N$370 000 to CHANGE, a programme which offers ex-offenders a chance to develop the skills to become productive members of society through meaningful employment. 

Capricorn contributes N$200 000 to drought relief

WINDHOEK - In response to the Namibian government’s state of emergency declaration on the current drought affecting the country, with no relief for farmers in the short term, Capricorn Group and Capricorn Asset Management has followed in the footsteps of the Group’s flagship brand Bank Windhoek by making a contribution of N$200 000 to the Dare to Care Drought Relief Fund.

Over 100 jobs created through Sanlam Innovation Works project

WINDHOEK – Sanlam, together with their project partner Namibia Business Innovation Institute (NBII), confirmed the winner of the 2019 Sanlam Innovation Works project. Linda P Ndakolo of Linda P Creations emerged as the overall winner of the 2019 competition and walked away with a cash prize of N$25 000 to further invest in her business.

Ohorongo Cement teams up with Carbo Namibia

WINDHOEK - In its drive to continue supporting government initiatives, as well as the trade ministry’s Growth at Home policy, Ohorongo Cement recently partnered with local entrepreneur, Carbo Namibia, which is a Namibian manufacturer and exporter of charcoal products. 

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PnP to dispose of used cooking oil through BEE

WINDHOEK - In support of its commitment to, and passion for environmental sustainability, Pick n Pay (PnP) Namibia, a subsidiary of the Ohlthaver & List (O&L) Group, recently signed a contract with BEE (Be Energy Efficient) Biofuel Manufacturing to safely dispose of all its used cooking oil (UCO). 

BAN to enhance stationery drive

WINDHOEK - The Banker Association of Namibia (BAN) will enhance their stationery drive on Friday, November 22, 2019, with a Shake-a-tin drive that will take place at various intersections in Windhoek.

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Fintech lets you say no to cash

Money is dangerous: it is bulky, smelly and dirty. Processing and getting the money from a shop, restaurant, café or any other place of business to the bank so it can be deposited can be a security nightmare, and it leaves business owners looking over their shoulder.

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NaCC refuses Namcor 50% import mandate exemption

WINDHOEK – The Namibia Competition Commission (NaCC) has refused an application by the Namibia Petroleum Corporation (NAMCOR) to grant exemption for a proposed 50 percent import mandate for the country’s fuel needs. NAMCOR has applied to NaCC for exemption from the provisions of the Competition Act – in respect of agreements arising from a proposal decision by the Minister of Mines and Energy to require 50 percent of all petroleum imports to be reserved for NAMCOR.

New industrial park coming to Walvis

WINDHOEK - Global Trade enabler DP World has signed an agreement with Namibia’s Nara Namib Free Economic Industrial Zone to develop an industrial park at Walvis Bay. The signing ceremony took place in Windhoek yesterday.

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Namport records a 19 percent increase of TEU’s for September

WINDHOEK - The Namibian Ports Authority (Namport) recorded a commendable increase of 19 percent of twenty-foot equivalent unit (TEU) containers shipped and 33 percent of TEU’s that landed at the Port of Walvis Bay in the month of September 2019 when compared to September 2018. These were the remarks of Namport’s Acting Chief Executive Officer, Kavin Harry, during the Annual Port Users function held in honour of the entity’s clientelé last week Friday.   

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MTN launches 4G at the coast

WINDHOEK - MTN Business Namibia has launched its LTE (4G) service at the coast, a development that now makes faster and reliable internet connectivity for home and office use in Swakopmund and Walvis Bay possible.

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Collaborative SME youth financing strategy unveiled

WINDHOEK – The finance ministry as well as that of sport, youth and national service, in conjunction with the Development Bank of Namibia (DBN) on Wednesday unveiled a N$138.5 million small and medium enterprise (SME) financing strategy, to commence on 1 December, specifically aimed at enabling the youth to start or expand their businesses. 

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We need to embrace the Cloud

There’s a lot of hype about the Cloud, however what comes to mind when you hear that your software will sit in the cloud, it sounds positively intangible and like a cloud it can fall apart anytime.

Trade ministry cautions of fake news

WINDHOEK - The Ministry of Industrialisation, Trade and SME Development (MITSMED) has cautioned members of the public and especially entrepreneurs of an ongoing online fake press release that purports to have been issued by the ministry. 

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CIF highlights necessity of Namibian Construction Council

WINDHOEK – One of the main topics scheduled to be discussed at the Construction Industries Federation (CIF) Construction Conference & AGM on  14 and 15 November  will be the establishment of a Namibian Construction Council, which is in line with the government’s commitment to have the council promulgated before the end of the 2019/2020 financial year.  

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Team Namibia supports local poultry industry

WINDHOEK - A barrage of squawks greets Albert Handunge every time he steps into his chicken coop. As the owner of Kona MH Supply cc, a poultry company based in Katutura, he beams. Seeing his chickens with their laid eggs reminds him of how, if supported locally, the poultry industry can boost job creation and ultimately eradicate poverty! 

Set and stick to your savings goals

WINDHOEK - World Savings Day or International Savings Day was established on 30 October 1924, during the first International Savings Bank Congress (World Society of Savings Banks) in Milan, Italy and was declared on the last day of the congress.

Namib Mills Group rejoins Team Namibia

WINDHOEK - Namibia’s current economic environment necessitates increased focus on supporting local businesses, in particular those that are manufacturing and producing for the local market, with the inherent intention to also export to regional and international markets other than effectively meeting the domestic demand. 

Illicit financial flows under spotlight

WINDHOEK - The Namibia University of Science and Technology supported by Bank Windhoek and Capricorn Group, last week hosted a two-day workshop for journalists and media students on the Investigation of Illicit Financial Flows and Money Laundering in Windhoek. 

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Air Namibia resumes flights to Luanda

WINDHOEK – Late last week, Air Namibia confirmed that after a temporary three-month suspension, it has re-introduced the Windhoek to Luanda route back to its schedule. The Windhoek to Luanda flights were scheduled to re-commence its Angolan operation yesterday.

Namibia launches intellectual property policy 

WINDHOEK - The Ministry of Industrialisation, Trade & SME Development, through the Business and Intellectual Property Authority, on behalf of the Government of Namibia, launched the first National Policy on Intellectual Property during a high-level breakfast engagement on Wednesday in Windhoek.   

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Malulu aims for sustainable production of local school uniforms

WINDHOEK - In some parts of the world, tailoring is regarded as pastime. Conversely, Fiina Malulu, considers tailoring to be an activity which may positively impact Namibia’s economy if her business concept is supported locally. Malulu, who is self-employed in the tailoring industry, is the owner of Fojarat Investment cc, a local business that designs, produces and repairs clothing for all Namibian age groups.

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MTC in Zurich to gear up for 5G

WINDHOEK - In preparation for the imminent arrival of 5G technologies in Sub-Saharan Africa, Mobile Telecommunications Limited Namibia (MTC) says that as a market leader and provider of next generation convergence network solutions it is committed to ensuring that it continues providing its 2.4 million customers with innovative technologies and services

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Bitcoin scam using King TeeDee brand 

WINDHOEK - Various scams have been circulating over the past couple of months using well-known Namibian personalities. Recently, it is alleged that musician Martin Morocky, popularly known by his stage name King TeeDee, has fallen victim to such.  

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BAN warns against surcharges on card payments

WINDHOEK - The Bankers Association of Namibia (BAN) says it has learned that some merchants continue to add a surcharge or additional fee to card transactions or are setting minimum or maximum transaction amounts as condition for accepting debit or credit cards for payment.

Using tech to heal

Medicine, healthcare and going to the doctor or hospital has for centuries been the procedure when we feel sick. These days, even in Namibia, we now often first reach for our phones or surf the Internet to

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Nedbank Namibia launches top-rated money app

WINDHOEK - Nedbank Namibia has taken the next step in its digital banking evolution by launching its top-rated Money App technology in Namibia. According to the bank, the new Nedbank Money Africa App (Money App) is not merely an upgrade on its existing mobile banking technology, but a fundamental rethinking of its

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A few days left to get your apples

WINDHOEK - For the past three weeks, the 2019 Bank Windhoek Cancer Apple Project has been distributing apples countrywide. Themed More than an apple. It’s a fruit of hope,  the selling of apples will conclude this

Bank Windhoek opens revamped specialist forex  branch

WINDHOEK - Bank Windhoek opened its revamped specialist foreign exchange (forex) branch situated in Independence Avenue on Tuesday in Windhoek. The newly renovated branch, which includes Bank Windhoek’s new look and feel, offers forex customers a pleasant banking experience in line with the bank’s new brand identity. 

Internet streaming vs satellite TV

Living costs are constantly rising and consumers are constantly assessing their decisions with the aim to get the best possible value out of every cent they spend.  Television entertainment is one of the areas,

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Census mapping upon us

The Namibia Statistics Agency is about to undertake one of the most important and significant aspects of the upcoming 2021 Population and Housing Census pre-enumeration activities. This process is called

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Team Namibia treasures Namib Desert Diamonds

WINDHOEK - Namibia’s three-year old cutting-edge diamond marketing and sales company, Namib Desert Diamonds (PTY) Ltd (Namdia) and the country’s member-based mobilising force, Team Namibia, signed a Memorandum of Understanding (MoU) to commence with Namdia’s membership of Team Namibia and strategic partnership on 1 July 2019. 

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Bank Windhoek supports EAN

WINDHOEK - Bank Windhoek will again support the Economic Association of Namibia (EAN) with the maintenance and development of its institutional capacity to effectively manage its current and future projects.

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Sanlam opens new office in Katima Mulilo

WINDHOEK – Sanlam recently officially opened their brand new fully-fledged office in Katima Mulilo. The new office was opened as part of the company’s strategic focus of ‘Client First’, which sees the company putting their clients first in all aspects.