• October 20th, 2018
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MTC boosts Gross Barmen with network upgrades

​​​​​​​WINDHOEK - The ongoing plans by the Mobile Telecommunications Limited (MTC) expand network services in both rural areas and urban peripheries have seen the Namibia Wildlife Resort (NWR) – Gross Barmen Resort site being the latest beneficiary of a long overdue upgrade from 2G to a commissioned 3G enabled infrastructures.  

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Peugeot not yet eyeing electric vehicles at Walvis Bay

WINDHOEK - The N$190 million Peugeot assembly plant being constructed in Walvis Bay, which is expected to be ready by the end of this year, is thus far slated to only produce fossil fuel vehicles (petrol and diesel) even as the French car maker plans on moving to fully electric vehicles from 2019 in the rest of the world.

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FNB donates computers to school

WINDHOEK - The FirstRand Namibia Foundation Trust, a brainchild of First National Bank (FNB), last week donated 10 refurbished computers to Mwandingi-Etuwata Amkongo Primary School as part of its its Corporate Social Investment (CSI) mandate.

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Buy-A-Brick initiative targets construction of 1000 houses

WINDHOEK - The Buy-A-Brick Initiative spearheaded by Standard Bank Namibia and the Shack Dwellers Federation has set a target of delivering 1000 houses every year to Namibians in the low-to-no income groups after co-partners in the private sector expressed interest in funding the programme. 

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Bank Windhoek opens first of its kind clinic for employees

WINDHOEK - Bank Windhoek opened a visiting on-site clinic last week at its Human Capital Department in Windhoek. The clinic is a first of its kind and offers employees, including those of its mother company, Capricorn Group, primary healthcare and wellness support services, delivered by licensed service providers. 

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Digital transformation can boost youth unemployment - Simataa

WINDHOEK – At the opening of yesterday’s fifth annual Information and Communication Technology (ICT) Summit, the minister responsible for the sector proposed the establishment of policies and financial support for young people involved in ICT to showcase their innovative and business abilities. The three-day summit takes place under the theme; “Digital transformation for an ICT smart Namibia”.

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NUST hosts National Cyber Security Competition with Green

WINDHOEK - Namibia University of Science and Technology (NUST) hosted the fourth National Cyber Security Competition with Green Enterprise Solutions as an industry and knowledge partner. The competition aims at creating awareness for cyber security and at the same time teach and learn from each other. 

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Schlettwein concerned about declining private sector investment

WINDHOEK – In anticipation of the Mid-Term Budget Review in about two weeks’ time, Finance Minister Calle Schlettwein and a high-level delegation, including Bank of Namibia Governor, Iipumbu Shiimi, met with captains of private sector industries yesterday. At the well-attended meeting in the Ministry of Finance boardroom, Schlettwein expressed concern about declining private sector investment levels and increasing outflow of local capital. 

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NWR continues to support local talent with Matongo Family challenge

WINDHOEK - The #letsgotoNWR challenge with the Matongo Family received an overwhelming response from the public with a combined 14 782 views by close of competition last week Friday. Since the initiative was launched at the beginning of September, the innovative challenge encouraged the public to create a new dance to the Matongo Family’s new single titled ‘Let’s Go’ featuring Maszanga.

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Capricorn Group launches 2018 Integrated Annual Report

WINDHOEK – Capricorn Group launched its 2018 Integrated Annual Report yesterday, which is the third group integrated report that adheres to the International Integrated Reporting Council’s IR Framework. It is also the second consecutive report that includes the group’s subsidiaries in Botswana and Zambia. 

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All flights to Harare cancelled until further notice

WINDHOEK – Following the impounding of an Air Namibia aircraft in Zimbabwe, the airline has cancelled all flights to Harare pending an appeal to that country’s Supreme Court. The airline has thus resolved to divert its existing flights between Hosea Kutako International Airport and Victoria Falls to Livingstone, Zambia, for the period October 06, 2018 to October 27, 2018. 

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Scholtz pens guide to uplift youth

WINHDOEK – Regional Councillor for !Nami#us Constituency, Jan Scholtz has dedicated his spare time to becoming an author by writing a “Youth Leaders Guide” booklet that seeks to uplift the living standards of the youth and community he serves. 

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FirstRand Namibia approves salary increases of over 7 percent

WINDHOEK - FirstRand Namibia and the Namibia Bank Workers Union (NBWU) have confirmed the increase of all employees’ basic salaries in the bargaining unit for the 2018/2019 financial year, at an across the board raise of 7,4 percent per annum. The effective date for the implementation of salary increases shall be back-dated to 1 August 2018. 

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Hollard Namibia celebrates 15 years of ensuring better futures

In 2003, a small group of like-minded enthusiasts realised a dream, of taking Namibian insurance to another level, by challenging the industry norm. Since that day, the Hollard Namibia team has grown substantially, not only in size, but also in our capacity for knowledge and passion that would change the face of the local insurance industry forever.

Growing wealth domestically and internationally

WINDHOEK - In today’s globally, interlinked economy, more and more people are looking for international exposure for their investment portfolios. But, by not broadening their investments horizon, investors narrow their opportunity base. Though not without risk, analysts warn, global exposure provides diversification benefits and is one of the underpinnings of modern wealth management.

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Cabin Crew Union calls for official inquiry into Air Namibia

WINDHOEK - The Namibia Cabin Crew Union (NCCU) yesterday staged a peaceful demonstration at the Air Namibia Head Office where they called for a Presidential Commission of Inquiry to be made into the affairs of the national airline. The demonstrators, consisting of union members and staff, wore all black to signify what they called the death of the relationship between workers and management. 

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International Training College – Lingua and Green partner up during first Annual ICT Week

WINDHOEK - International Training College – Lingua (ITCL) and Green Enterprise Solutions (Green) continued their close working relationship regarding all things ICT during the first Annual ICT Week. The theme of the ICT Week was; “Creating Industry Partnership through Information Technology.” Kehad Snydewel, Managing Director of Green, delivered a keynote speech at Lingua’s event on; “Importance of IT in today’s world.” The three-day event creates a platform for the ICT industry, academia and students to discuss trends and challenges facing the industry globally and in Namibia.

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Fuel increase of 50c/l will push transport inflation into double digit territory

WINDHOEK – A local economic analyst, Klaus Schade, seems to have hit the nail squarely on the head with his prediction that fuel prices will continue to increase for the rest of the year. The Ministry of Mines and Energy yesterday confirmed that fuel pump prices for October, 2018, will increase with 50 cents per litre on all petroleum products at one minute past midnight on Wednesday, October 3, thereby edging pump prices ever closer to the N$14 per litre mark. 

How to turn around South African Airways

JOHANNESBURG - Now minister of public enterprises, Gordhan’s department has assumed oversight of SAA at a critical moment in its history. As recently appointed CEO Vuyani Jarana and his new leadership team pursue a make-or-break turnaround strategy to boost passenger numbers, rationalise routes and coax vital financial support from the government, the future of the airline remains obscure. With huge decisions on a potential privatisation or equity partnership pending, it remains to be seen whether Gordhan and his department can provide the support and oversight necessary to rescue the airline.

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MTC hands over 19 new cars to competition winners

WINDHOEK  –  Mobile Telecommunications Limited  (MTC) on Friday handed over 19 brand-new Toyota 2.4 Hilux single cab vehicles, to 19 lucky customers. In a spectacular handover ceremony, held in the Windhoek’s central business district, MTC officially handed over the car keys to the respective winners from its recently ended Recharge & Win Competition that ran as from the beginning of August until 30th August 2018.  

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Government to invest N$3.6 billion in agriculture during MTEF

WINDHOEK - Prime Minister Saara Kuugongelwa-Amadhila, on Friday said government intervention in the agricultural sector will continue to be substantial during the next three years, until 2021, government plans to invest about N$3.6 billion over the Medium-Term Expenditure Framework (MTEF) into the development of this sector. While speaking at the ground-breaking ceremony of the Asparagus Agro-Processing Factory, by Otjimbele Agriculture, at Ruacana in the Omusati Region, she said the sector in which Otjimbele has chosen to invest is a key sector of the economy due to its growth and employment-generation potential.

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Entrepreneurship education key to employment creation

WINDHOEK - Entrepreneurship education is a key contributor to employment creation as it creates jobs for the youth when there are few available vacancies. This was one of the key messages on Thursday morning when Dr Becky Ndjoze-Ojo, Deputy Minister of Higher Education, Training and Innovation, addressed the opening of the 19th Annual Symposium by the Bank of Namibia.

September is the month for Business Women

WINDHOEK - The 22 September is commemorated as International Business Women’s Day. Desery van Wyk, Head Digital Products at FNB Namibia, said that International Business Women’s Day recognises that all women are seeking and deserve equal business opportunities and “we, at FNB Namibia feel the same”. 

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Second quarterly GDP shows growth declined by 0.2%

WINDHOEK - The latest figures from the Namibia Statistics Agency indicates that the domestic economy performance remained suppressed in the second quarter of 2018, recording a contraction of 0.2 percent compared to the same period of 2017. Quarter on quarter, the economy maintained the same pace of declining growth of 0.2 percent. 

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TIPEEG had positive effects on economic growth, jobs and incomes, says Calle

WINDHOEK – Finance Minister, Calle Schlettwein, has dismissed critics of the Targeted Intervention Programme for Employment and Economic Growth (TIPEEG) which was implemented between 2011/12 to 2013/14. Responding to statements made by McHenry Venaani, leader of Popular Democratic Movement (PDM), Schlettwein said the N$14.7 billion TIPEEG actually had positive effects on economic growth, jobs and incomes.

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Youngsters at BI Dynamics develop ICT Summit app for free

WINDHOEK – With the focus of this year’s national Information and Communication Technology (ICT) Summit being youth empowerment and giving young people an opportunity to showcase their talents, a group of like-minded youngsters developed the official application (app) for this year’s event. 

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Dolce & Kapana: A tale of resilience

WINDHOEK – An innovative idea by two business-minded individuals to commercialise kapana, a local delicacy of grilled meat often sold at an open market by small time business people, has sparked quite a stir on social media.

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NSA’s land statistics prepare stakeholders for upcoming Land Conference

WINDHOEK  – The absence of a centralised database for Namibia’s land statistics is making it extremely difficult for government to make informed decisions on the contentious land issue. This is according to the Chairman of the Namibia Statistics Agency (NSA), Dr John Steytler, who noted during the NSA’s Land Symposium last week that the agency’s recent Land Statistics booklet will provide facts and figures for fruitful engagement on land issues. 

NSI’s calibration certificates now internationally recognised

Calibration certificates issued by the Namibian Standards Institution (NSI) in the area of mass are now recognised and accepted by the international community. This comes after the institution published Namibia’s first Calibration and Measurement Capabilities (CMCs) in the field of Mass Metrology on the International Bureau of Weights and Measures -  Key Comparisons Database (BIPM -KCDB). 

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FNB announces data free app use

WINDHOEK - In an effort to reduce costs and pave the way for all Namibians to bank anywhere, anytime without additional costs, FNB Namibia and partner MTC are proud to announce that the FNB App has been zero rated, which means customers will not need data or credit to do their banking on their phone via the FNB App. 

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NamPower used South African company to assist with ‘refreshed’ logo

WINDHOEK – The national power utility, the Namibia Power Corporation (NamPower) has responded to escalating criticism on its refreshed logo that was revealed in two advertorials early this week saying the exercise was part of the production of a new Corporate Identity (CI) Manual. New Era can reveal that NamPower paid N$235 000 for the CI Manual, which included the development and printing of ‘a number of copies’. Part of this was paid to Pure Publishing and Design CC, a South African company that confirmed they assisted NamPower’s marketing department in refreshing the logo.   

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NSA to host land statistics symposium today

In about two weeks’ time Namibia will host its second land conference. As part of its contribution towards the debate of the second national land conference, the NSA has embarked upon a compilation exercise for different land statistics in the country. The aim of the exercise is to compile statistics and develop a National Land Statistics Booklet to highlight, in a

KBB to relaunch factory with new Italian partners

WINDHOEK - A recent formulation of a Joint Venture agreement between Kavango Block Brick (KBB) and their new Italian partners, Italy Made, has resulted in the relaunch of the KBB manufacturing plant. The soon-to-be announced relaunch will entail KBB’s manufacturing plant being geared up to deliver a multitude of concrete product solutions.

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Shiwa the Baker vows to share her craft

WINDHOEK - Shiwomeho Kalla, also known as Shiwa the Baker, is on a mission to build a global legacy and a brand that will transcend her own lifetime. Although the young entrepreneur only started her craft a mere two years ago, she is making quite a name for herself in the local baking industry. But, while Shiwa’s wide range of confectionaries are drawing mouth-watering reviews from her clients, it is how she ended up in this profession and what she is doing to change it that is making waves in the industry. 

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Bring Your Own Device (Damage) BYOD 

Tablets, smartphones, iPods, MP3-players, USB flash drives, you name the device and people in Namibia have them. Employees or ‘end-users’, if you will, will bring their own devices to work and not hesitate to connect to company’s wi-fi or directly plug the device into the organisation’s network. This is known as BYOD or “Bring Your Own Device,” a phrase that refers to the practice of allowing employees to bring their own mobile devices to work for use with company systems, software, networks, or information. Sometimes with major repercussions for the organisation, however we should also look at the benefits that it brings. 

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Schlettwein explains U$60 billion Chinese package aid

WINDHOEK - Finance Minister Calle Schlettwein has explained the U$60 billion (approximately N$900 billion) package of aid, investment and loans to Africa offered by China during the just ended Forum on China-Africa Cooperation (FOCAC), against a backdrop of growing concern about rising debt distress on the continent.

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Ohorongo to get clean energy from new 5MW solar power plant

WINDHOEK - Ohorongo Cement inaugurated a 5MW PV Solar Plant last Friday in the Otjozondjupa Region which Minister of Mines and Energy, Tom Alweendo, called a significant milestone in private sector participation, and encouraged other investors and developers to follow the example set by the project. 

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Responsible borrowing with N$200,000 loan benefit for government employees

WINDHOEK - Turbulent times and economic hardships are at the forefront of discussions in both the private and public sectors.  It is indeed a fact that the economic welfare of many Namibian households worsens as debt increases resulting in less buying power and a weaker savings rate. Namibians’ household debt is reported to be well over N$54 billion. Household debt is the combined debt of all people in a household and includes consumer debt and mortgage loans. 

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Roads Authority signs 6% wage increase with labour union

WINDHOEK – Roads Authority (RA) employees were all smiles yesterday when the company signed a new wage agreement with the Namibia Public Workers Union (NAPWU) that will see them receive a six percent increase for basic salary, six percent increase for housing allowance and six percent increase for transport allowance. In addition, the RA Board of Directors has approved a six percent salary increase on total cost to employer for all those on management level. 

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PDM Youth League bemoans increasing graduate unemployment rate

WINDHOEK - The Popular Democratic Movement Youth League (PDMYL) has noted with grieve concern the increasing graduate unemployment rate. According to the PDM Youth League spokesperson, Maximalliant Katjimune, it is now much more difficult for a university graduate to find employment than at any time in the country’s history.

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Firstrand Namibia profit before tax down 3.8% to N$1.5 billion

WINDHOEK - FirstRand Namibia, previously FNB Namibia Holdings, says it produced a sound set of results for the year ended 30 June 2018, particularly because financial services entities, and especially banks’ earnings, are inextricably linked to the health of an economy which is currently facing challenging conditions.

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Motorists should brace for more fuel increases - Schade

WINDHOEK – Following yesterday’s 40 cents per litre fuel increase for petrol and diesel, a local economist has cautioned motorists to brace for further increases. According to Klaus Schade, a Research Associate at the Economic Association of Namibia, more pressure can be expected on local fuel prices mainly due to the continued depreciation of the Namibian Dollar coupled with global oil supply uncertainties. 

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SA’s technical recession means more domestic fiscal woes

WINDHOEK – Local economic analysts have cautioned that South Africa’s technical recession could have serious implications for Namibia’s sovereign credit ratings recovery efforts, will in all likelihood exert increased pressure on already declining disposable incomes and is expected to result in decreased Southern African Customs Union (SACU) revenue which will mean more domestic fiscal constraints. South Africa’s economy slide into a technical recession as it shrunk 0.7 percent in the second quarter. The downturn, which was South Africa’s second consecutive quarter of negative growth, was driven by contractions in agriculture, transport, trade and manufacturing industries.

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Lutombi reappointed as Roads Authority CEO

WINDHOEK - The Roads Authority’s (RA) Board of Directors has confirmed the re-appointment of Conrad Mutonga Lutombi as the authority’s chief executive officer for a second term. The re-appointment, which is effective from October 1, 2018, for a 5-year period, was announced in a statement by RA Board Chairperson Brian Katjaerua. 

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Early signs of recovery in housing market

WINDHOEK - FNB Namibia has released the housing index based on figures obtained from June 2018. According to FNB analyst Josephat Nambashu, although house prices increased by 0.8 percent y/y in June, property prices remain under pressure, after a series of annual falls over the last nine months, to bring the average house price to just over N$1.2 million. “The continued drop in the economy and the increased costs of living on the back of fuel increases remain a stark reminder that consumer spending remains under pressure, which is consequently depressing domestic property prices.” 

Sectional Title  Act implemented to target defaulters - CoW

WINDHOEK - The City of Windhoek (CoW) recently announced the implementation of the Sectional Title Act of 2009 that requires owners of sectional titles to submit title deeds and related documents to the city by no later than September 30, 2018. A recent advertisement by the CoW in local newspapers warned that “failure to provide the required information by the due date will result in levying the value of the land portion of the units equally amongst each unit”. 

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Namibian fuel up by 40c/l as prices approach global average

WINDHOEK – At one minute past midnight last night motorists started forking out 40 cents a litre more on all petroleum products, bringing the price of petrol at Walvis Bay to NS12.95 per litre, diesel 500ppm to NS13.28 per litre and diesel 50ppm to NS 13.33 per litre. While the new fuel prices are astronomical for Namibians, these figures are still below but are fast approaching the current average global petrol price of N$14.75 per litre. 

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FNB celebrates female employees

WINDHOEK - FNB Namibia held a breakfast celebration at the end August and Women’s Month under the theme ‘Grit and Perseverance.’ Elzita Beukes, Communications Manager at FNB Namibia said the purpose of the event was to celebrate female employees at FNB and to inspire them to be resilient even when times get tough. Speaking at the event, Nangula Kauluma, FNB Executive Officer: Premium Banking highlighted the determination needed to succeed and the three choices one must make – to either remove yourself from the situation, change the situation completely, and/ or accept the situation no matter the consequences that may follow. 

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Young entrepreneur advises reinvesting in your business

WINDHOEK – A Walvis Bay native spent two years in the United Kingdom on a working holiday, John Weber started out cleaning construction sites in the UK but always knew he would come back home. On his return, he held several jobs and eventually walked away from his last position to start his own business.

EAN’s annual economic conference to focus on inequality

WINDHOEK - The Economic Association of Namibia (EAN), in collaboration with the Hans Seidel Foundation and The Namibian newspaper, will be hosting its annual economic conference, under the theme of ‘Inequality’ on September 5, 2018 at the Safari Hotel. The conference will focus on questions surrounding Namibia’s persistent high levels of inequality, as well as look at ways to reduce inequality in a pragmatic manner, through a strong focus on improved opportunity for Namibia’s people.

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BFS celebrates women in finance

Business Financial Solutions (BFS) held a Women in Finance breakfast on Wednesday to celebrate trailblazers, high achievers, advocates and role models for women in the financial sector.  

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Elso Holdings invests locally as it eyes regional market share

Elso Holdings, a 100 percent Namibian-owned manufacturer of biodegradable toxic-free cleaning products, paper and cleaning equipment, says it is investing millions of dollars over the next three to five years in the expansion of its production facilities in Namibia as it aims to serve the Namibian market and eyes both regional and other international destinations. 

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NIPAM’s Nangolo meets her Botswana counterpart

Namibia Institute of Public Administration and Management (NIPAM) executive director Maria Nangolo yesterday met with the head of Botswana’s equivalent institution to NIPAM, the Botswana Public Service College (BPSC). The executive director of BPSC, Botshelo Mathuba, is in Windhoek for three days to

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African Investment Forum to drive investment in strategic sectors

WINDHOEK – The African Development Bank (AfDB) is considering increasing its direct funding of bankable projects of the continent’s private sector, given the sector’s propensity to drive economic growth, generate decent jobs and create increased opportunities for more inclusive and green growth. This was revealed by African Development Bank Executive Director, Mihe Gaomab II, who noted that private sector development is widely recognised by the international community as an engine of sustainable and inclusive economic growth.

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Creativity has become a vital part of the economy

WINDHOEK - While the industrial economy in the past required mostly land, labour and capital, the new emerging economy uses creative industries to produce meanings from the world of ideas. In the past, creativity and industry were not generally linked but nowadays the notion that arts and creativity serve as major economic drivers is fast gaining impetus. 

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Local pharmaceutical companies encouraged to enter regional markets

WINDHOEK – Pharmaceutical companies opting to establish themselves in Namibia have been encouraged by Minister of Health and Social Services, Dr Bernard Haufiku, to position themselves in such a way that they can enter the regional market. According to Haufiku, a larger market would make local pharmaceutical companies more sustainable and due to economies of scale a larger operation can offer more affordable prices. 

Over 90 percent of Air Namibia’s pilots are Namibian

Almost no country is totally self-sufficient and has no need for skill support in specific fields. This is evident in specialised field of expertise such as medicine, marine, mining and also in the aviation industry. The aviation sector facilitates tourism, business, trade and logistics. Namibia’s development goals has logistics as one of the driving forces of Namibia’s Development Plan (NDP5) and therefore its economy, to ensure that Namibia becomes the logistical hub for SADC and Africa.

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Advantage Y&R wins bronze Loerie for ‘The Shack’

WINDHOEK - Well-known Namibian advertising agency, Advantage Y&R, has continued its run of success, this time picking up a Loerie Award for a temporary structure called ‘The Shack’, which won in the category for ‘Three Dimensional & Environmental Design – Interior Design & Temporary Structures.’

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Elso offers refills of its products to combat waste

WINDHOEK - Elso Holdings is offering its customers the option of refilling containers with its cleaning products to curb wastage and save money. Four of Elso’s factory outlets around Namibia offer this convenient and environmentally friendly service to its clientele.

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How to save when you live alone

WINDHOEK – Living alone can both be an exciting journey and a challenging one. It gives you a sense of freedom, where you are the sole ruler of your domain, yet it is considered to be more expensive if compared with sharing with someone.

Unions tells FNB to behave, or else …

WINDHOEK – The secretary-general of the Trade Union Congress of Namibia (TUCNA), Mahongora Kavihuha, has warned the leadership of FNB Namibia to behave, as they allegedly try to derail negotiations with the union. The Namibia Bank Workers Union (NBWU), an affiliate of TUCNA, is accusing the bank of trying to deny employees their annual increase. They allege that the bank wants to attach the employees’ annual increase to their performance appraisals. 

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Namsov Community Trust empowers San women in Omaheke

WINDHOEK – The construction of a community centre in Corridor 17 of the Omaheke Region, which was approved by the Namsov Community Trust (NCT) in 2015, has been successfully completed. The centre was constructed in honour of the late Chief Sophia Jacobs for the San community and will serve women in the San community to provide long-term sustainable economic upliftment and empowerment.

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NaCC investigation finds short-term insurers fix prices

WINDHOEK – A preliminary investigation by the Namibian Competition Commission (NaCC), in terms of section 36 of the Competition Commission Act, has found that various short-term insurance companies have engaged in collusive conduct, specifically price fixing by setting maximum mark-up rates that panel beaters should charge for repairs to insured vehicles. Mark-up rates refer to the margins that panel beaters add on top of the costs of vehicle parts.

Upward pressure expected to remain as inflation continues to rise

WINDHOEK - Continuous upward pressure is expected on inflation, mostly owing to the rising fuel prices, the most recent of which was a 25 cents per litre increase in August, attributed to the adjustment of the fuel tax in August. Although international oil prices have eased slightly, the prevailing sentiment is that the depreciation of the Namibia Dollar will increase the cost of oil in domestic currency which could result in further under-recoveries, meaning the actual costs of fuel are still higher than the pump price.

Repo rate remains unchanged at 6.75%

WINDHOEK – The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday confirmed that the repo rate has been left unchanged at 6.75 percent. After a review of global, regional and domestic economic and financial developments, the MPC’s decision was made to continue supporting domestic growth, while maintaining the one-to-one link between the Namibia Dollar and the South African Rand.

Blue economy concept gains wide admiration in Africa

WINDHOEK - The new Blue Economy concept – which is defined as the use of ocean resources by human beings and at the same time make sure that such resources are not depleted, is increasingly gaining support as the vehicle towards achieving ocean sustainability in Africa.

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Bank Windhoek opens Okahao Branch

WINDHOEK – Bank Windhoek extended its footprint in the country even further when it officially opened its 55th branch in Okahao, Omusati Region this week. The newest Bank Windhoek branch was officially opened by the Governor of the Region, Erginus Endjala, in the presence of King Johannes Mupongolitha Mupiya of Ongandjera, Mayor of Okahao, Immanuel Amutenya, councillors of Okahao Town Council, Managing Director of Bank Windhoek, Baronice Hans, and the Bank’s Head of Retail Banking Services, Chris Matthee. Members of the growing Okahao business community and invited guests were also in attendance to witness the opening.

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Latest Fitch rating a confirmation for continued consolidation - analysts

WINDHOEK - The latest assessment of the Namibian economy by international ratings agency, Fitch Ratings, on Monday affirmed a sub-investment grade rating of BB+ with a stable outlook. Local economists believe that this assessment is a confirmation for continued fiscal consolidation efforts, which have thus far been slow as government struggles to balance consolidation with adequate economic growth, poverty alleviation and a necessary reduction in income inequality.

Namibian charcoal exports could increase to 200 000 tonnes by 2020

WINDHOEK - Charcoal production is an important activity for managing bush encroachment in Namibia. With an estimated 160 000 tonnes of export volume in 2016, Namibia is currently ranked as the fifth largest exporter of wood charcoal in the world, which also makes it the largest exporter of charcoal in the Southern African region.

Namibia ranked 4th in SADC in terms of financial inclusion

WINDHOEK - The latest results from the Namibia Financial Inclusion Survey (NFIS) indicate that the country’s banking population increased to 67.9 percent in 2017, up from 45 percent in 2011. In addition, the majority of the eligible banking population, 64.7 percent, said they consider Automated Teller Machines the most comfortable banking channel followed by bank branches at just over 58 percent.

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Missing links persist in SADC’s energy infrastructure

WINDHOEK - Member States of the Southern African Development Community (SADC) actually produce more electricity than they require at peak demand but because not all member states are connected to the regional electricity grid, this excess energy cannot be shared with member states that do not generate sufficient amounts of energy for their respective populations. When considering SADC’s current peak demand and generation capacity reserve margins, the region is estimated to generate excess capacity of 2 616 MW. In fact, the installed capacity in the region is more than 40 percent of the total installed generation capacity in Africa.

NSA to launch Namibia Financial Inclusion Survey today

The Namibia Statistics Agency (NSA), together with the Bank of Namibia and FinMart, is launching the Namibia Financial Inclusion Survey today at the Namibia Institute for Public Administration and Management (NIPAM). This is a survey of how individuals generate their income and how they manage their financial lives. It also includes individuals’ engagement with the financial services sector as a whole. The financial sector in this sense includes both formal and informal products and services. The Financial Inclusion Survey also provides insight into attitudes and perceptions regarding money management, financial products and services, as well as information regarding demographics and overall lifestyles.

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Enjoy a host of free benefits by joining the Inner Circle

WINDHOEK - Standard Bank has relaunched its Prestige Account, which is uniquely tailored to meet the banking and lifestyle needs of young professionals. For only N$199 per month, Prestige clients receive a wide range of services, offered in a reliable, time efficient and convenient fashion, allowing them to bank anytime, anywhere, with no long waiting periods or long queues to delay them.

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SADC bemoans lack of financing for crucial infrastructure

WINDHOEK - An overarching theme at yesterday’s Southern African Development Community (SADC) Secretariat briefing on infrastructure and services, which included an overview of regional renewable energy ventures, was the stagnation of crucial projects in the region, most of which require additional and alternative sources of funding.

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NDTC invests N$700 000 in Olafika SME Mentorship Programme

WINDHOEK - The Olafika SME Development Mentorship Programme is a promising program that seeks to take Namibia entrepreneurs from across the country’s 14 regions on a journey from rough to polished gems. This is the analogy of the Namibia Diamond Trading Company (NDTC), as a local company with a global reach, that...

PowerCom continues support to ICT Summit

WINDHOEK - Namibia’s only tower infrastructure provider, PowerCom, has provided further sponsorship for the ICT Summit in Namibia with a financial contribution of N$50 000 for a two-year period, which has increased their total contribution since 2016 to N$150 000. PowerCom joins other corporates in partnering with the Ministry of Information and Communication Technology in sponsoring the event which is scheduled for October.

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Reform needed for a sustainable electricity distribution sector - Alweendo

WINDHOEK– Despite Namibia being in the process of becoming more self-sufficient in terms of electricity production, the country is still overly reliant on sourcing power from neighbouring countries as it still imports approximately 60 percent of its electricity requirements. Due to this factor, the country has to identify new means to generate more electricity locally and to make it more accessible in the country where electricity-wise less than 50 percent of the population is connected. This is according to Minister of Mines and Energy, Tom Alweendo, who shared these sentiments while addressing the 2018 Electricity Supply Industry Forum, which took place in Walvis Bay yesterday, under the theme ‘Building a Sustainable Future’.

Pension funds to meet to discuss economic growth

WINDHOEK-MNCapital Group, an international investment advisory and institutional business development firm, in association with Africonomie UK, a UK-based investment advisory and communication firm, have confirmed that various pension funds and several international and local leading institutions will gather in Windhoek on August 22 and 23 to discuss Namibia’s economic growth through pension fund investments. African pension funds are estimated to be holding US$334 billion in assets and 90 percent of these assets are held in only four countries of which Namibia is one.

Imagine doing eWallet through Bank Windhoek’s ATMs

WINDHOEK – Imagine receiving an eWallet of N$500 from a friend and instead of taking a taxi to the nearest FNB ATM machine, you simply use the Bank Windhoek ATM not far from where you are standing waiting for a taxi when that SMS notification beeped on your cellphone. Just close your eyes for a moment, and visualise if you will, the flood of relief and joy of convenience that would jolt through you were that a real option.

China overtakes South Africa as Namibia’s biggest export market

WINDHOEK - South Africa has been overtaken by the world’s second largest economy, China, as Namibia’s single biggest export market. This is according to the Namiåbia Statistics Agency (NSA) trade statistics for the first quarter of 2018 which indicated that Namibian exports to China grew by an astounding 779 percent compared to the previous quarter, while exports to neighbouring South Africa only increased by a meagre 2 percent.

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One-on-one with economic analyst, Claudia Boamah

WINDHOEK - In the small fraternity of economic analysts, Claudia Boamah is making waves in this traditionally male-dominated profession, with her economic forecasts and proposals on economic policy attracting attention from the highest echelons. During a recent investment summit in the capital, Boamah suggested that if Namibians are indeed forward thinkers, then we need to know what the potential of any economic sector is and conduct the necessary research to establish a lifespan of that industry. With this proposal, Boamah suggested that the country adopt a forward-thinking mentality, not just in terms of goals but also in terms of preparations that need to be completed in the processes of achieving long-term objectives.

Junior Baiano continues to diversify services

WINDHOEK – Junior Baiano Industrial Consultants, a company which started operating in 2011, is making major waves in the construction, mining and logistics industries. Recently, the 100 percent Namibian company has diversified its interests even more with the launching of a brand-new clothing line.

Angling passion results in Angler’s Kiosk

WINDHOEK – The angling industry at the coast continues to gain popularity as more individuals fish for sporting purposes. With her experience, Jana Kruger, grasped the opportunity to cater to the needs of customers within the industry and is focused on making it a success despite the challenging economic times.