JOHANNESBURG – Botswana will soon join Belgium as a verification and certification hub for rough diamond exports to Group of Seven (G7) nations, its presidency said yesterday. Following a G7 ban on Russian diamonds in January, Antwerp was in March selected as the sole location able to certify the origin of rough diamonds and issue...
Airlink, one of southern Africa’s premier airlines, will undergo a leadership change following the decision by chief executive officer and managing director Rodger Foster to step down at the end of March 2025. Foster will be relinquishing control of the airline after almost 33 years at the helm. Airlink’s chief financial officer, De Villiers Engelbrecht,...
The Bank of Namibia (BON)has reiterated its commitment to ensuring the stability and resilience of the banking sector by employing proactive and effective micro-prudential supervisory measures. Guided by the Basel Core Principles (BCPs), particularly Principle 11 on Corrective and Sanctioning Powers of Supervisors, the central bank’s Banking Supervision Department continues to enhance its ability to...
Longer-term strategies to improve the flow of goods along the Trans-Kalahari Corridor (TKC) entail member states opening the TKC borders between Botswana and South Africa on a 24-hour basis, as well as establishing One-Stop Border Posts (OSBP). Member states will also consider implementing a Regional Cargo Tracking System (RCTS) to facilitate smooth trade along the...
The international oil major Chevron Corporation, which industry insiders expect to soon start exploration drilling in the Orange basin off the Namibian coast, reported earnings of US$4.5 billion for third quarter 2024, compared to US$6.5 billion in third quarter 2023. Foreign currency effects decreased earnings by US$44 million. Adjusted earnings of US$4.5 billion were reported...
NAMIB Desert Diamonds (Namdia) hosted its inaugural open day on 25 November 2024, marking a significant milestone in the company’s commitment to fostering stronger relationships with stakeholders and increasing operational transparency. The event provided key stakeholders a unique opportunity to engage with Namdia’s leadership, learn about the company’s contributions to domestic economic development, and gain...
Capricorn Group has appointed Johan Maass as group financial director, effective 22 November 2024. He joined Capricorn on 1 April 2018, and has served as group chief financial officer since 1 July 2022. Maass is a chartered accountant by profession, with a B.Com Hons degree in chartered accountancy from North-West University. Over the past six...
Bank Windhoek has supported the Katuka Mentorship Programme for the past five years, while witnessing women’s development and its benefits. Mentees within the programme agree that while the Namibian job market can be challenging, having a supportive and established mentor makes attaining career goals easier. The annual Katuka Mentorship Programme held its certificate ceremony on...
LONDON – Major stock markets mostly rose yesterday as traders welcomed Donald Trump’s pick for Treasury secretary, while bitcoin’s push to US$100 000 ran out of steam after coming within a whisker of the mark last week. The equity gains came before key US data over coming days, which could provide fresh clues about the...
New regulations effective since 30 September 2024 have transformed how consumers send and receive money between Namibia, South Africa, Eswatini, and Lesotho, better known as the Common Monetary Area (CMA). “These changes represent a significant advancement to our cross-border payment systems,” explained Brian Katjaerua, CEO of the Bankers Association of Namibia (BAN). “While customers need...