Bank and corporate managers are demanding a new generation of risk modelling that goes beyond transparency and enhances their ability to see competitive opportunities as well as to recognise the
Bank and corporate managers are demanding a new generation of risk modelling that goes beyond transparency and enhances their ability to see competitive opportunities as well as to recognise the
WINDHOEK - In Namibia, approximately 44 percent of young people are unemployed and there is mounting pressure on government institutions and departments to provide employment opportunities for them. Over the past few years, Namibia has produced record numbers of skilled graduates from local
WINDHOEK - Team Namibia, a member-based non-profit movement aimed at the promotion of quality local manufactured products and services, held a donor event financed by the Embassy of Finland, called
GIPF continues to be a proud participant at the Ongwediva Annual Trade Fair. At this year’s Trade Fair, GIPF will focus on running a massive data clean-up campaign.
WINDHOEK - Earlier this month, Nedbank Namibia launched Namibia’s first-ever zero-maintenance fees bank account. Referred to as the Pay-As-You-Use account, it allows clients of any age or income group to pay bank charges only when they make a transaction.
WINDHOEK – The Retirement Funds Institute of Namibia (RFIN) hosted its 13th Annual Conference teaser event which allowed stakeholders, sponsors, speakers and members of the public to get an idea of what to
WINDHOEK - On Thursday, August 15, Bank Windhoek and the International Finance Corporation (IFC) jointly introduced the free to use EDGE (“Excellence in Design for Greater Efficiencies”) green building
WINDHOEK – Once the new Public Accountants and Auditors Bill is promulgated, it will significantly strengthen the independence of the Public Accountants and Auditors Board (PAAB) and will provide for the
JOHANNESBURG - African leaders have finally launched a long-awaited free-trade agreement seven years after the concept was first agreed, but political integration as envisaged by the continent’s founding fathers decades ago still seems a pipe dream.
WINDHOEK – The Namibia Institute of Public Administration and Management (NIPAM) is offering a new tailor-made course for local authorities and regional councils on project finance.
WINDHOEK – With Windhoek’s annual urbanisation rate currently at about four percent, the N$4.3 billion housing development of the Ongos Valley Project intends to make a significant contribution to the capital city’s population, which is expected to exceed 645 000 people by 2030.
WINDHOEK - Ongos Valley, the exciting N$4.3 billion housing development poised to change the face of Windhoek’s residential landscape, kicked off on Wednesday with a ground-breaking ceremony attended by
WINDHOEK – Looking at the last three years it is apparent that the timely submission of Affirmative Action (AA) reports by relevant employers remains a challenge. Relevant employers are required to submit AA
WINDHOEK - On Friday, August 9, 2019, Bank Windhoek donated laptops to the Omaheke Regional Library in Gobabis. Upon receiving the donation, the director of education in the Omaheke
WINDHOEK – The Ministry of Mines and Energy has confirmed that although it has received several proposals for the establishment on an oil refinery, it has not yet granted any approval as it awaits feedback on
WINDHOEK - TransNamib recently achieved a milestone by moving the first shipment of Northern Cape manganese from Ariamsvlei to Lüderitz. The train departed for Ariamsvlei on landmark voyage on Thursday,
WINDHOEK – During the 2018/19 financial year the Financial Intelligence Centre (FIC) intercepted and intervened in 25 suspicious financial transactions valued at close to N$472 million. As empowered by
WINDHOEK – Nabirm Energy Services, the Namibian registered arm of Nabirm Global, an oil and gas explorer, has upped the ante on offshore exploration by contracting Electromagnetic Geoservices (EMGS)
WINDHOEK - Chairperson of the Debmarine Namibia board of directors Dr Michael Himavindu says the company is committed to protecting the marine environment where they mine diamonds.
WINDHOEK - Paratus Namibia has announced the completion of the initial phase of its national Mobile-LTE rollout plan.
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.
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.
WALVIS BAY - China Harbour Engineering Company (CHEC) says the construction of the Namibia Ports Authority (Namport) container expansion project was the most challenging project ever undertaken by the company.
WINDHOEK – Organisers of the just-ended Economic Growth Summit will soon embark on an investment roadshow to mobilise more resources in addition to the N$50 billion in investments committed at the Summit.
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
WINDHOEK – For the 18th consecutive year Nedbank Namibia has once again shown its support for the
WINDHOEK – Namibia’s current economic situation has compelled its leaders to rethink the country’s developmental path, which has had a disproportionate reliance on government expenditure. This was part
WINDHOEK - In 2015, Ohorongo Cement acknowledged the dreams of Schack Dwellers Federation of Namibia (SDFN) members to have their own houses, and as such, approached the FNB Foundation Trust
Today, 31 July 2019, President Hage G. Geingob, an eternal, but pragmatic optimist will deliver the keynote address at the two-day Namibia Economic Growth Summit convening under the apt theme,
In the spirit of good corporate citizenship, organisations both in the public and private sectors in Namibia have an active role to play when it comes to developing skills. Especially in the ICT sector skill
WINDHOEK - The Namibia National Reinsurance Corporation (NamibRe) yesterday declared a dividend of N$6.15 million for the financial year ended March 31, 2018. This dividend represents 20 percent of the
WINDHOEK - Elso Holdings, the oldest and only Namibian manufacturer of cleaning materials delivering quality products locally for more than 60 years, is restructuring its route to market solution by outsourcing its
WINDHOEK - Namdeb, together with the Oranjemund Town Council (OTC), held a title deed signing ceremony to mark the sale of the first ever private properties transfers in Oranjemund yesterday. This historic
WINDHOEK – Due to Namibia’s geographic location, stable political and social environment, good infrastructure and a free investment environment, the country enjoys exceptional advantages in China’s
WINDHOEK - Star Alliance, the world’s largest airline alliance, and NEC Corporation, a global leader in IT, network and biometric technologies, on Friday signed a partnership agreement to develop a biometric data-
WINDHOEK – TransNamib has grown freight revenue by more than eight percent since it closed all its road transportation services to focus on its core business of rail transport, which is in line with its new focus and slogan “Rail it!”.
WINDHOEK – Although various retailers throughout the country have already been charging customers extra for plastic bags, the Ministry of Finance this week confirmed that the money collected by shops is not yet part
WINDHOEK - The country’s national power utility, NamPower, this week revealed that it will construct four renewable energy power plants over the next five years at an estimated cost of N$4.7 billion. The revelation was made on Wednesday by NamPower’s Managing Director, Kahenge Haulofu, during the launch of the
As the effects of climate change continue to emerge as a business reality, the Namibian banking sector plays a vital role in accelerating the local market’s transition to a lower-carbon energy future.
WINDHOEK - The Namibian Competition Commission (NaCC) yesterday confirmed that it has concluded settlement agreements with Santam Namibia Ltd and Hollard Insurance Company of Namibia Ltd with
WINDHOEK – MYDAWA, a technology-based service in Kenya, has become the first online pharmacy in Africa and part of the top four percent globally to earn the LegitScript certification that verifies internet
WINDHOEK - Air Namibia yesterday confirmed that one of its Airbus A319 aircraft, which was undergoing heavy scheduled maintenance checks, will resume operating as of Monday, July 29, 2019. This latest
WINDHOEK – The case for major reforms on economic issues such as the size of the public sector, the civil service wage bill, support to loss-making public enterprises, and the questionable viability of capital
WINDHOEK – The Zambezi Region has been allocated N$310.6 million for its Development Budget for 2019/20. As announced by Finance Minister Calle Schlettwein during his budget speech, the overall
WINDHOEK – Bank Windhoek, in partnership with the Namibia University of Science and Technology (Nust) and B360 Education Partnerships, offered a leg up to unemployed university graduates by
WINDHOEK - Africa Institutional Management Services (Aims) on Friday, July 19, received their Approved Training Organisations certificate (ATO) enabling them to give training in the aviation sector. The certificate
WINDHOEK - A record number of international passengers are traveling through Addis Ababa Bole
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.
WINDHOEK – Finance Minister Calle Schlettwein has called on Namibia’s lawmakers to consider passing the Financial Institutions and Markets (FIM) Bill without delay.
WINDHOEK - Bank Windhoek has appointed Bronwyn Moody as its new Head of Corporate Social Investments (CSI), Sponsorship and Events, effective Thursday, August 1, 2019.
WINDHOEK - NamPower has confirmed that a 315 MVA, 400/220/22kV transformer is being transported via road from Johannesburg to the Gerus substation near Otjiwarongo. The transformer was transported
WINDHOEK – According to Windhoek Mayor Muesee Kazapua, any business that understands the importance of bringing services to where people reside is a good business.
WINDHOEK – A labour dispute is brewing between Standard Bank Namibia and the Bank Workers Union of Namibia (Bawon) regarding salary negotiations for 2019. The dispute emanates from salary negotiations
WINDHOEK – The Otjozondjupa Region has received just over N$575 million for its development budget for the 2019/20 financial year. As tabled by Finance Minister Calle Schlettwein in his budget speech in
WINDHOEK – Last week, Deputy Minister of Works and Transport Sankwasa James Sankwasa, commissioned a new Tamping machine for TransNamib. The machine, which is a 08-16 Split Head Mod
WINDHOEK - The City of Windhoek has for the first time approved an Affordable Housing Concept where it intends to build houses, most of which will be below N$1 million. This was confirmed at a media briefing last
WINDHOEK – While applauding those public entities that have implemented internal procurement committees, as required by the Procurement Act, Prime Minister Saara Kuugongelwa-Amadhila yesterday
WINDHOEK – Standard Bank Namibia has been recognised in a series of award wins at the Euromoney Awards 2019 for Excellence and took top spot as Namibia’s Best Bank.
WINDHOEK – The United States of America has unveiled an initiative called ‘Prosper Africa’ through which it aims to substantially increase two-way trade and investment with Africa. This ambitious initiative,
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.
WINDHOEK – At the conclusion of the sixth ordinary meeting of the African Diamond Producers Association (ADPA) Council of Ministers that was held in Windhoek this week, Minister of Mines and Energy Tom
WINDHOEK – The Development Bank of Namibia (DBN) has announced that it will conduct visits to Kavango East, Kavango West and Zambezi, from 15 to 18 July 2019. The Bank recently opened an office in Rundu in
WINDHOEK - FlyWestair, Westair Aviation’s new scheduled passenger airline, has confirmed a new route between Windhoek’s Eros Airport and Ondangwa four times per week. The flights, which are scheduled for
WINDHOEK – With 54 out of 55 African Union member states having signed the Africa Continental Free Trade Agreement (AfCFTA), the continent is on the verge of becoming the world’s largest free trade area
WINDHOEK – Nedbank’s Personal Loans Team is conducting a nationwide Financial Education Roadshow, targeted at Namibians working in both the private and public sectors. The financial education programme,
WINDHOEK – Africa has the opportunity and potential to capitalise on its diamond resources if exploited in a responsible and sustainable manner. This message was delivered yesterday in Windhoek by Minister of
WINDHOEK – The Oshikoto Region has been allocated N$224.1 million for its development budget for the 2019/2020 financial year. For the remainder of the Medium-Term Expenditure Framework (MTEF) this
WINDHOEK – Air Namibia has rubbished allegations that it will no longer service its only intercontinental route, saying that, despite some media reports, that there has been no decision to suspend or terminate its
JOHANNESBURG - South African President Cyril Ramaphosa backed Chinese technology giant Huawei on Friday at the 4IRSA digital economy summit in Johannesburg, where he outlined his government’s strategy to
WINDHOEK – Last year’s Economist Businesswoman of the Year award winner Hilja Amvula, who is the co-founder of a pig and poultry business, says the award was the fuel needed to boost the agricultural
WINDHOEK – Chief Economist at Capricorn Asset Management Floris Bergh said the South African
The mounting debt relating to South Africa’s state-owned entities is reflective of a wider problem in sub-Saharan Africa. Government borrowing in the region is spiralling out of control – and the public is being
JOHANNESBURG - Africa’s rising debt levels pose a significant threat to development. Statistics show
WINDHOEK – When Minister of Finance Calle Schlettwein tabled the national budget in March this year, he allocated just over N$300 million to the Oshana Region’s development budget for the 2019/20 financial year.
WINDHOEK - The Roads Authority (RA) last week inaugurated its head office in Windhoek, which cost the Road Fund Administration (RFA) N$286 million.
Windhoek – The Bank of Namibia, Payment Association of Namibia and Namclear last week announced the discontinuation of cheques as a payment instrument within the national payment system.
WINDHOEK – The High Level Panel on the Economy that is tasked to attract investments worth N$15 billion over the next two years will this week submit its first recommendations to President Hage Geingob ahead of this month’s Economic Growth Summit.
WINDHOEK – Standard Bank is offering motorists who shop at Maerua Mall in Windhoek a quicker and more convenient way to pay for parking using Standard Bank’s PayPulse application, effective from Friday 28 June 2019.
WINDHOEK – FirstRand Namibia Chief Executive Officer Sarel van Zyl has assumed the chairmanship of the Bankers Association of Namibia (BAN), taking over from Standard Bank’s Vetumbuavi Mungunda. Van Zyl
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.
WINDHOEK – The 20th Northern Economist Businesswomen Conference was launched last week Thursday in Windhoek by Sara Elago, Patron and Namibian Businesswoman of the Year 1999. The
WINDHOEK – The Bank of Namibia’s (BoN) latest Quarterly Bulletin has confirmed that activity in the domestic economy slowed during the first quarter of 2019, compared to the corresponding quarter in the previous year.
WINDHOEK – Non-bank financial institutions (NBFIs) continue to grow their asset base, despite domestic recessionary economic conditions. This was revealed in the annual report of the Namibia Financial
WINDHOEK – The road has been cleared for China National Uranium Corporation (CNUC) to acquire the entire issued share capital of Rio Tinto Overseas Holding Limited (RTNH), after which CNUC will gain
WINDHOEK - The Namibian Competition Commission (NaCC) has fined PG Glass Namibia just over N$1.4
WINDHOEK - Keeping up with the latest global cybersecurity developments is vital not only for corporations
WINDHOEK – Ministry of Fisheries and Marine Resources last week held a consultative workshop on Namibia’s Sustainable Blue Economy Policy development that took place in Windhoek. The same exercise
WINDHOEK – Namibia and Germany on Monday signed an Inter-Governmental Bi-lateral Agreement. The agreement, signed by Minister of Finance Calle Schlettwein, and outgoing German ambassador to Namibia
WINDHOEK – Namibian Ambassador to China Elia Kaiyamo yesterday welcomed the first batch of Namibian beef to China, which is the largest consumer market in the world. Kaiyamo welcomed the consignment of
WINDHOEK - Dr Licky Richard Erastus has been appointed MTC’s new Acting CEO. Dr Erastus takes over from Thinus Smit who served in the acting role for the past two and a half years. Dr Erastus currently holds the position of Chief Technical Officer at MTC.
WINDHOEK – The 37MW Hardap Solar Photovoltaic (PV) Plant, which was commissioned outside
WINDHOEK - After hosting a successful Career Development Workshop earlier this year, Bank Windhoek has again partnered with the Namibia University of Science and Technology (Nust) and B360 Education
WINDHOEK – The domestic economy’s performance remained suppressed in the first quarter of 2019, recording a contraction of two percent compared to the decline of 0.5 percent recorded in the
WINDHOEK - Embury Institute of Higher Education and Southern Business School of Namibia, are scheduled to host an Open Day on Saturday from 10h00 to 13h00. The two distance learning institutions
WINDHOEK – Debmarine Namibia yesterday confirmed financing for its brand-new N$7 billion (US$468 million) state-of-the-art mining vessel being built in Romania. While Debmarine Namibia will cover N$1.4
WINDHOEK – The date for the 2019 Namibia Economic Summit, as announced by President Hage Geingob during the last state of the nation address, has been confirmed to will take place on July 31 and August 1,
WINDHOEK - Eqstra Fleet Services Namibia (Pty) Limited (EFS) have been rebranded as Omatemba Fleet Services (Pty) Ltd with effect from May 30, 2019. The word Omatemba, in both the Oshiwambo and Otjiherero languages, means a fleet of wagons.
WINDHOEK – The latest figures from the Namibia Statistics Agency (NSA) show that, based on the May 2019
WINDHOEK - The Namibia Statistics Agency’s first Quarter Trade Statistics indicates that the first quarter of 2019 recorded a trade deficit amounting to N$2.950 billion as compared to N$9.293 billion witnessed
WINDHOEK – The Ministry of Agriculture, Water and Forestry estimates that the approximate value of 75 000 tonnes of timber exported from Namibia during the first two months of 2019 is close to N$94 million.
WINDHOEk - The Wärtsilä Modular Block power plant solution is a pre-fabricated, modularly configured
WINDHOEK – The Namibia Airports Company (NAC) has not renewed a Ground Handling Agreement with
Many organisations spend a lot of time and effort building and developing robust risk mitigation frameworks and strategies to handle business-specific risks. In spite of constant monitoring through
WINDHOEK – Minister of Finance Calle Schlettwein is in Malabo in the Republic of Equatorial Guinea to attend the 2019 and the 54th Annual Meeting of the African Development Bank Group, as well as the 45th
WINDHOEK – Ticket sales open today (for the first FlyWestair passenger flights to Oranjemund with the flight for the newest entrant into Namibia’s passenger air travel scheduled for Monday, June 24, 2019.
WINDHOEK – The Kunene Region in the far northwest corner of the country has been allocated just over N$400 million in terms of the Development Budget for the 2019/20 financial year. The total budget for the
WINDHOEK – The age-old adage ‘time is money and money is time’ relates more often than not to the business community. It is in this regard that the Namibia Chamber of Commerce and Industry (NCCI) has
In the year 2021, Namibia will be conducting a Population and Housing Census, which is commonly known as the exercise which counts people. However, there is much more to a census than only counting people.
WINDHOEK – Chinese Ambassador to Namibia, Zhang Yiming, has urged Namibian companies to capture the ‘golden chance’ provided by the first China-Africa Economic and Trade Expo to be held in Changsha, the
WINDHOEK - Minister of Works and Transport John Mutorwa earlier this week visited the Walvis Bay Corridor Group (WBCG) head office in Windhoek to better acquaint himself with the company’s activities.
WINDHOEK – Old Mutual on Tuesday handed over computer equipment valued at N$300 000 towards the Ministry of Home Affairs and Immigration’s e-death notification Initiative. The handover took place at the Old Continental Hotel in Independence Avenue in Windhoek.
WINDHOEK – Suspended Choppies CEO, Ramachandran (Ram) Ottapathu has hit out at the company for criticising him in Stock Exchange News Services (Sens) announcements in Botswana and South Africa.
The political ties between Namibia and South Africa dates back to many years ago since Namibia was under that country’s colonial regime. With just nearly eight months left before Namibia celebrates her 30th
WINDHOEK – The development of a shopping centre at Elisenheim Village Estate is expected to create more than 300 jobs over the next 10 months and more than 200 permanent employment opportunities
WINDHOEK - The Government Institutions Pension Fund (GIPF) hosted the second regional stakeholders’
WINDHOEK - Valco Pipes is in the process of being acquired by Heat Exchange Products, a company founded by Henning Mercker and recently majority-owned by local private equity firm Eos Capital. The
WINDHOEK – The Khomas Region, which is the seat of central government and where the capital city is situated, has been allocated N$2.437 billion for its developmental needs during the 2019/2020 financial year.
WINDHOEK – Unleaded fuel and diesel will increase by 30 cents per litre as of this Wednesday, June 5.
WINDHOEK – A group of 16 disgruntled Traditional Authorities (TAs) has warned government that the continued sale of land to foreign nationals at the expense of those who lost their ancestral land might spark civil unrest.
We live in times where fraudsters look like neighbours and sound like friends. When it comes to private- and payment card information, make sure you understand how social engineering can be used to compromise your financial security.
Karibib Constituency Councillor, Melania Ndjago, is adamant that Namibia must introduce a clear and concise law such as the Electronic Communications and Transactions Act in line with the South African Act, noting that externalisation of money is a criminal act.
The Kavango West Region has been allocated N$257 245 000 in the 2019/20 financial year for its development budget. For the remainder of the Medium-Term Expenditure Framework (MTEF), the development budget for this region increases to N$331 992 000 in 2020/21 before reducing marginally to N$327 849 000 for the 2021/22 financial year.
Late last week, the Minister of Finance, Calle Schlettwein, issued an economy-wide procurement directive on the reservation of procurement of goods, services and works to local suppliers in terms of Section 73 of the Public Procurement Act.
As the Namibian construction sector continues to find itself between a rock and a hard place, the Construction Industries Federation of Namibia (CIF) continues to advocate and engage with senior officials and government ministers to maintain efforts of raising awareness of the need to support the local construction sector.
Seated (from left) Fortune Chasi, Minister of Energy and Power Development, (Zimbabwe) and Mathews Nkhuwa, Minister of Energy (Zambia) signing while (standing) Tom Alweendo, Minister of Mines and Energy (Namibia), Alfeus !Naruseb, Minister of Water (Namibia) and Dr Tembinkosi Mhlongo, Deputy Executive Secretary for Regional Integration were among the witnesses. Photo: Contributed
WINDHOEK - Nedbank Namibia in partnership with the Lionesses of Africa Organisation held the second Lioness Lean In
WINDHOEK – The Stanford Seed Programme which is a high-touch learning experience aimed at empowering established business leaders, has commenced with recruitment for the Southern African region. The Southern African leg of the
WINDHOEK - The current financial and economic situation has forced many households and businesses to tighten their budgets in order to avoid going into or to effectively manage debt, but this generally can have a negative effect of slowing
WINDHOEK - “One of the most productive meetings I have participated in for ages,” said Robby Amadhila. “Not a talk shop, but a gathering of high-level representation from government, the central bank, commercial banks and NCCI
WINDHOEK – The Namibia Chamber of Commerce and Industry (NCCI) is appealing that the government urgently
WINDHOEK - Mobile Telecommunications Limited (MTC) has urged the public to refrain from entering base transmitter stations and to stop vandalising the network sites.
WINDHOEK - Nedbank Namibia will introduce Pepper, a humanoid robot, to learners at the Nedbank Career Expo which started Wednesday at the Windhoek Country Club and will end on Friday, 24 May 2019. Pepper is visiting Windhoek while taking a few days leave from his fulltime job as a client experience ambassador at Nedbank’s digital branch called the NZone in Sandton, Johannesburg.
WINDHOEK – Chinese telecommunications giant, Huawei, yesterday pledged to continue building a safe and sustainable software ecosystem to provide the best experience for all users globally.
WINDHOEK – The recent election of Cyril Ramaphosa as South African president augur’s well for investors, provided the newly elected leader sticks to his promises to stamp out escalating corruption, turn around ailing state-owned enterprises and
There comes a time in any entrepreneur’s lifecycle when situations get tough. With the current persisting drought, combined with a challenging economic environment, entrepreneurs might find themselves faced with cash flow difficulties. As a result, this can negatively affect payments to creditors.
WINDHOEK - Damen Shipyards Group and Debmarine Namibia recently participated in a special steel-cutting ceremony to mark the beginning of the construction of a new offshore vessel.
WINDHOEK – The Kavango East Region has been allocated N$226 774 000 for its development budget for the 2019/20 financial year. For the remainder of the Medium-Term Expenditure Framework the development budget for the region reduces to N$216 687 000 in 2020/21 and then reduces further to N$190 702 000 for the 2021/22 financial year.
WINDHOEK – One of the global leaders in aeronautics and space-related services, Airbus, last week held its annual African airlines business lab symposium in Zanzibar, bringing together airline industry experts and managers from carriers across the region, to position their businesses to take advantage of the rapidly expanding African market.
WINDHOEK - Without sufficient and affordable supply of electricity, crucial economic contributors, such as the mining sector, will not be able to operate optimally. For instance, of the more than 4 000 gigawatt hours (GWh) the country consumed in 2018, a significant portion, or just over 1 400 GWh, was consumed by the mining sector.
WINDHOEK - FNB Namibia has introduced an additional safety measurement, called Online Secure, which requires customers to enter a One Time Pin (OTP) as confirmation that an online transaction is valid and verified by the card holder.
WINDHOEK - After awarding a tender for the construction of a new fire station, the Mariental Municipality is reviewing the allocation following an objection by another company that submitted a bid which was lower by close to N$90 000.
WINDHOEK – The Capricorn Group hosted an Investor Relations and Integrated Reporting workshop yesterday, in partnership with Greymatter & Finch.
WINDHOEK – Namibia has yet to sign up to the African Union’s Single Africa Air Transport Market (SAATM) project, after 28 countries on the continent have already signed up. According to the International Air Transport Association (IATA), a single air transport market for the continent, if implemented, gives Africa the potential for economic transformation and the association has urged the remaining 27 countries to follow suit.
Media undeniably depend on technology, but technology is one segment of media and Namibia is slowly and surely embracing digital media compare to the past 15 years. This is technological development, one of the driving forces of economy and plays a weighty role in the communication for development.
WINDHOEK - Huawei Namibia yesterday rewarded the five top performing information technology students at the Namibia University of Science and Technology (Nust). The five students, Thomas Shigwedha, Carlos Sibalatani, Hainana Oletu, Jackson Vatileni and Pelema Abraham each received a 4G router and a custom diary from Huawei.
WINDHOEK – African airlines continue to struggle to turn a profit and as such airlines on the continent on average lose US$1.55 (almost N$22) for every passenger carried. This is in stark contrast to the rest of the global airline industry that has recorded an average profit per passenger of US$7.45 (about N$105) showing that air transport can indeed yield a return greater than cost of capital.
WINDHOEK – The Hardap Region had been allocated N$284.7 million for the development budget during the 2019/2020 financial year. As tabled in the national budget by Minister of Finance Calle Schlettwein, in March this year, the Hardap Region’s development budget is expected to decrease slightly to just under N$260 million in the 2020/21 financial year, before rebounding to more than N$282.3 million in the 2021/22 financial year.
WINDHOEK – Airbus, a global leader in aeronautics, space and related services, is making its debut at the annual Nampo Harvest Day annual four-day trade fair in Bothaville this week, highlighting its latest helicopter and satellite data geo-intelligence solutions for the development of productive and sustainable farming and other agricultural practices.
WINDHOEK – Residential property prices continued to contract during the first quarter of 2019, like they have done since 2018. This is according to the latest FNB House Price Index which recorded a contraction of one percent at the end of March 2019, compared to a contraction of 0.3 percent over the same period last year. Overall, the property market remains lacklustre, as the price index continues to hover in a negative territory.
WINDHOEK - Star Alliance has officially completed the refurbishment of its lounge at Paris Charles de Gaulle (CDG) Airport. The 980-square-metre facility offers seating for more than 220 guests and features stylish elements inspired by Parisian design and architecture.
WINDHOEK - Sanlam staff, through their Mother’s Day campaign, recently donated items to expecting mothers and newborn babies at the Katutura Maternity Ward. The campaign termed ‘From One Mother to the Next’
WINDHOEK - The Namibian unemployment rate has been on the rise in recent years. Based on the Labour Survey Report of 2018, the unemployment rate stood at 33.4 percent in 2018, while the youth unemployment rate for persons aged between 19 and 34 stands at 44 percent.
WINDHOEK – The local mining sector has the potential to contribute more to the country’s socio-economic development if government can address all policy and regulatory
Mobile Money is described as mobile payments system based on accounts held by a mobile operator and is accessible from subscribers of mobile phones. Cash is converted into electronic value and vice versa and this mainly happens at
Standard Bank Namibia is excited to collaborate with our clients in the vibrant uranium sector. Over the medium to long term, the uranium sector in Namibia is expected to not only contribute towards the country achieving its socio-economic
WINDHOEK – It is unrealistic for investors in the mining sector to expect no change in policy or legislation during the duration of their investment, as some of these sectoral investments can be as long as 30 years.
WINDHOEK – The Council of Architects and Quantity Surveyors as well as the Namibia Institute of Architects have wholeheartedly welcomed the recent graduation of the first two Master of Architecture degree holders at the Namibia University of Science and Technology (Nust).
WINDHOEK - One thing that cannot be ignored is the impact that social media has on an individual’s travel decisions.
WINDHOEK - The FirstRand Namibia Foundation Trust has handed over an amount of N$40 000 towards the Adonai Trust in Lüderitz. Rolandi Meyer, FNB Namibia’s Lüderitz Branch Administrator expressed her delight with the donation to be used towards financial literacy training for offenders from the Lüderitz and Keetmanshoop correctional services.
WINDHOEK – Minister of Mines and Energy, Tom Alweendo, yesterday revealed that some foreign investors in the mining industry view the issue of local mine ownership as an irritant or as something that can be wished away. However, Alweendo cautioned that this is a fallacy and a mistaken view.
In previous columns I have written about the Fourth Industrial Revolution and I will continue to do so, as I believe it provides the solution to uplift Namibia and Africa as a continent. We can fully embrace new technology, innovations, cloud
WINDHOEK - ISACA, previously known as the Information Systems Audit and Control Association, has selected the managing director of Headway Consulting, Jan Coetzee, as their new president. At the recent Annual General Meeting (AGM) held in Windhoek, Coetzee was chosen to lead the Windhoek Chapter of this leading-edge global association.
WINDHOEK - FNB Namibia has confirmed that UnionPay cards are now accepted at all FNB Point of Sale terminals nationwide. UnionPay, also known as China UnionPay or by its abbreviation, CUP, is a Chinese financial services corporation headquartered in Shanghai, China, that provides bank card services and a card scheme in mainland China.
People often joke about their own funeral and how they envision it to be. Some make extremely quirky requests they insist that their family members respect on the day they’re buried.
WINDHOEK - FNB Namibia, through the FirstRand Namibia Foundation Trust, last week donated N$1 million to the Dare to Care fund, which alleviates the plight of drought-stricken farmers.
WINDHOEK – Rössing Uranium Mine increased its production with 17 percent in 2018 as it produced 2 479 tonnes of drummed uranium oxide compared with 2017’s production of 2 110 tonnes. However, the total mined tonnes were 24 percent below production targets following a mining slowdown to curtail the impact of water supply interruptions.
WINDHOEK – The Bank of Namibia (BoN) continues to clamp down on dubious financial schemes operating in the country which, more often than not, prey on vulnerable Namibians during tough economic times.
WINDHOEK – The total Development Budget for the Erongo Region for the 2019/20 financial year, as tabled by Finance Minister Calle Schlettwein in March, stands at N$1.268 billion. Thereafter, during the remainder of the Medium-Term
WINDHOEK - Emerging managers are pivotal contributors to organisational performance and a vital link between frontline employees and the executive team in organisations as they are the backbone that sense and respond to various industry forces and drivers of a business to secure optimum performance.
WINDHOEK – Following an application from the national power utility, NamPower, the Electricity Control Board (ECB) approved a 2.5 percent tariff decrease, translating into an effective bulk tariff decrease from N$1.69 to N$ 1.65 per kilowatt-hour. However, the ECB has projected that consumer tariffs should remain at current levels based on inflationary impact as well as adjustments to distribution costs.
WINDHOEK – The Frans Indongo Group officially launched its new Indongo Ford dealership at Oshakati recently. The dealership, which is the newest member of the Frans Indongo Group, opened its doors in Oshakati in 2018 to offer convenient service to people in the north.
Lüderitz – Seaflower Whitefish Factory on Friday launched it re-engineering project at Lüderitz, valued at N$57 million. The project is part of the commitment by National Fishing Corporation of Namibia (Fishcor), Seaflower Whitefish Factory’s state-owned parent company, to its strategic plan ending in 2021.
SWAKOPMUND – Mines and Energy Minister Tom Alweendo says the discoveries of major oil reserves in Southern Africa will be of importance to Namibia, a country battling a volatile and challenging business environment, characterised by a slowdown in the economy.
WALVIS BAY – Botswana President Mokgweetsi Masisi has described Namibia’s granting of dry ports to landlocked countries as an impressive move.
WINDHOEK - Last week Stanlib hosted their annual Asset Management Roadshow and presented invited guests and members of the media with various views and insights covering the political, economic and investment landscapes in Namibia and neighbour South Africa.
Recent statistics from NapoleonCat indicate that they were 579 300 Facebook users of which 220 000 were aged between 25 to 34 while they were 193 500 Instagram users of which 71 000 were aged between 18 to 24 as of March 2019 in Namibia.
WINDHOEK – The Government Institutions Pension Fund (GIPF) has confirmed the recent appointment of Desmond Nikanor as its Strategy and Projects Manager. Nikanor’s appointment is effective as of 01 April 2019.
WINDHOEK – As the Namibian economy struggles to crawl its way out of a prolonged recession, the Minister of Finance Calle Schlettwein, this week cautioned that the pace and scale of the economic recovery is predicated on the timeliness of pro-growth measures announced in the budget.
WINDHOEK - Enchanting tourist attractions, unique diplomatic stature and a thriving airliner have placed Ethiopia, Land of Origins, on top of the world when it comes to tourism growth. According to the World Travel & Tourism Council’s (WTTC)
WINDHOEK – Southern Business School of Namibia recently celebrated the success of their Diplomandi and Graduandi when they were conferred with their qualifications on April 05, 2019. With so many graduates, there were several days set
WINDHOEK - The FirstRand Namibia Foundation Trust recently handed over a total of 40 computers to the value of N$400 000 to the University of Namibia (Unam). These computers will aid the Business Math and Basic Micro and Macro students with e-tutorials and tests.
WINDHOEK – One of the successes achieved thus far by the Namibia Chamber of Commerce and Industry’s (NCCI’s) Private Sector One Voice initiative, which meets monthly to deliberate on topical matters affecting business, includes the
WINDHOEK - Bank Windhoek launched a new television campaign ‘Journeying Together’ last Thursday in Windhoek
WINDHOEK – Namibia’s logistics costs declined significantly by 11.4 percent to stand at 15.6 percent in relation to gross domestic product (GDP) in 2017 having peaked at 17.6 percent in 2016.
On Friday, April 12, the newly established Capricorn Group NeXtGen Board supported the Capricorn Group’s brand promise of being Connectors of Positive Change by sowing positively into the lives of young children at the Family of Hope School in Havana, Katutura.
WINDHOEK - Hollard Insurance Company has always valued its partners which is evident in the recent donation of N$440 000 to the Pupkewitz Foundation, which shares the same ideology in regard to investing back into the community through identifying issues that desperately need attention.
WINDHOEK- Deputy Prime Minister Netumbo Nandi-Ndaitwah says it’s time for Namibians to start thinking out of the box to grow the economy to levels that would make a difference to the socio-economic challenges.
WINDHOEK – With only two of Air Namibia’s seven executive positions being held by substantive officials, the struggling airline’s Board of Directors has appointed new interim leadership to steer the airline out of the financial and human resource turbulence engulfing it.
LÜDERITZ - Lüderitz Mayor and Chairperson of Crayfish Festival Board of Trustees, Hilaria Mukapuli, told New Era that the 12th Lüderitz Crayfish Festival will take place from the 25 April, 2019 until 30 May, 2019, at the Lüderitz Waterfront Harbour Square. The theme for this year’s festival is “Our Ocean Our Heritage”.
WINDHOEK - Standard Bank recently awarded bursaries to four students studying Cyber Security, Forensic Science and Actuarial Science at the Namibia University of Science and Technology, the University of Free State and Stellenbosch University as part of its annual Bursary Programme.
WINDHOEK - The business world has significantly changed since the internet went mainstream during the early 1990s. I can recall how challenging it was to access information about businesses before this period. At the same time, the past two decades have brought about significant changes within the digital landscape that have led to companies having to either adapt or fall behind.
WINDHOEK – The central bank has maintained the repo rate at 6.75%, in line with the expectations of economic gurus, although there are divergent views regarding the decision to leave the rate unchanged for almost two years while the country’s economy is teetering.
WINDHOEK – Fixed broadband subscriptions in Sub Saharan Africa are estimated to be 6.6 million. This market is expected to grow by up to three-fold by 2023 according to Ovum, a London based global technology research and advisory firm.
WINDHOEK - Jacky’s Bakery (trading as CakesForNamibia) was recently chosen as one of the recipients of an income generating grant from the Khomas Regional Council (Windhoek East Constituency).
WINDHOEK - Namutoni Primary School in Windhoek’s Katutura-East Constituency has entered a new phase in its existence as one of the leading institutions embracing and using Information Communication Technology (ICT) for teaching and learning activities.
WINDHOEK - The National Petroleum Corporation of Namibia (Namcor) recently handed over mattresses and educational items valued at N$319 000 to the Tsumkwe Primary and Secondary School, as well as the Tsumkwe community development and learning centre.
WINDHOEK – The Namibian Women’s Expo founder and host Frieda Nambwadja is calling upon corporate companies to support or partner up for the event that is scheduled for July 5 to 7 this year.
WINDHOEK - Benefit distributions in communal conservancies often comes in different forms, but mostly in cash. There has been criticism of this, and of the Namibian’s communal conservancies in general, but the Nyae Nyae Conservancy has benefitted significantly from the distribution of cash.
Financial literacy focuses on the knowledge and skills you need to make effective and informed money management decisions. Gaining the knowledge and developing the skills to become financially literate is a lifelong process that begins with something as simple as putting a few dollars in a piggy bank and evolves to more advanced subjects such as budgeting and risk.
WINDHOEK – The Payment Association of Namibia (PAN) has introduced a brand-new solution called NamPay that the association feels can present an incredible opportunity for the Namibia National Payment System (NPS) to be among the most technologically advanced on the continent.
WINDHOEK – The total development budget for the //Kharas Region for the 2019/20 financial year, as tabled by Finance Minister Calle Schlettwein, on March 27, stands at N$695 994 000. Thereafter, during the remainder of the Medium-Term Expenditure Framework the region’s development budget is expected to reduce to N$682 441 000 during 2020/21 and then to N$640 024 000 for 2021/22.
WINDHOEK - Team Namibia’s Team Talk event on Thursday last week, focusing on shaping the future with mental power,ue is very apt considering the stage Namibians find themselves in their personal and business lives. Team Namibia as an institution believes success can be achieved with optimism and a positive mindset.
WINDHOEK – The world’s largest aerospace company, Boeing, now faces the dauting task of convincing aviation regulators, airlines and the flying public that its planes are safe after its top brass admitted that a failure in the single-aisle 737 Max jet’s anti-stall system, MCAS, was a factor in last month’s Ethiopian Airlines crash.
WINDHOEK – The Trade Union Congress of Namibia (Tucna) has voiced its disappointment in the 2019/20 national budget, particularly the government wage bill. According to Tucna’s Secretary General, Mahongora Kavihuha: “The crux of our argument is that for the minister to pass a budget that is progressive, it must still focus on leading the economy out of its current stagnation through increased wages for employees of the civil service.”
WINDHOEK – The Namibian Competition Commission (NaCC) yesterday confirmed it has not yet received any application to approve the billion-dollar acquisition of a 100 percent stake in Schwenk Namibia (Pty) Ltd, which is a majority shareholder of Ohorongo Cement based near Otavi.
WINDHOEK - The Chamber of Mines in Namibia this week lauded the local mining sector as the best performing economic sector in 2018. This top performance was confirmed by the Preliminary National Accounts as released by the Namibia Statistics Agency, which indicated that the sector recorded a strong growth rate of 22 percent compared to 13.3 percent in 2017, which is more than any other economic sector.
WINDHOEK - The Dare to Care Fund shot up to N$4 million last week after a donation of N$385 000 by Old Mutual which means that 76 000 bags of fodder will be subsidised with N$50 per bag. A meeting was held last Friday where all retailers agreed about final rules for implementation. The target date for national implementation is next week Monday.
WINDHOEK – The Ministry of Industrialisation, Trade and SME Development has identified a tomato paste project that will directly benefit members of the Tsandi Constituency in the Omusati Region.
WINDHOEK – Shortly after the budget was tabled last week, Nedbank Namibia in partnership with Simonis Storm, hosted an in-depth review discussion of the National Budget.
WINDHOEK - The Ministry of Finance yesterday engaged healthcare service providers on issues pertaining to the Public Service Employees Medical Aid Scheme (Psemas), with Minister of Finance, Calle Schlettwein, telling the well-attended
WINDHOEK - In response to the Namibian government’s efforts to alleviate the housing shortage and reduce the housing backlog, Bank Windhoek has confirmed it will offer financing to potential buyers of PolyCare houses.
WINDHOEK – In a first for Opuwo, Mobile Telecommunications Limited (MTC) opened a brand-new shop to serve the town’s clientele, making it the 36th MTC store in the country.
WINDHOEK - Emulating a precedent set by previous Boards of the Namibia Chamber of Commerce and Industry (NCCI), the Chamber’s directors, under the presidency of Sven Thieme, has appointed Charity Mwiya as the substantive Chief Executive Officer. Mwiya will head the NCCI’s secretariat over the coming five years.
MANILA - High Commissioner of The Republic of Namibia to Malaysia and Ambassador to the Philippines Her Excellency Anne Namakau Mutelo, invited and welcomed the Philippines business community to come and invest in Namibia.
WINDHOEK – During the tabling of the national budget on Wednesday, Finance Minister Calle Schlettwein announced that the member’s contribution to the Public Service Medical Aid Scheme (Psemas), which has for long been static, will be
WINDHOEK - Scalable manufacturing and assembly operations can be a lucrative basis for investor success, says Development Bank of Namibia (DBN) CEO, Martin Inkumbi. As proof of this, he points to the commissioning of the Peugeot and Opel assembly plant in Walvis Bay.
WINDHOEK - Bank Windhoek in collaboration with Microsoft hosted 50 local entrepreneurs for a one-day seminar at the Windhoek Country Club Resort on Monday.
WINDHOEK - The Roads Authority (RA) says it remains committed to the empowerment and promotion of the participation of local contractors in all road construction projects.
During the beginning of the year I indicated that this year the Namibia Statistics Agency will be very busy. We are busy with our regular periodic data releases as well as major survey projects that are under way and planned already.
WINDHOEK – Standard Bank Namibia has confirmed that it has no plans to retrench staff or close down branches as is being done by Standard Bank South Africa, which is realigning its retail and business banking delivery model to the changing needs of customers amid rapid adoption of digital banking products and services.
WINDHOEK – Local Namibian ICT consultancy, Headway Consulting, has confirmed the launch of ITIL 4 (Information
WINDHOEK – Most economic analysts do not expect any major surprises from today’s tabling of the national budget by Finance Minister, Calle Schlettwein.
WINDHOEK – Against a backdrop of global and local economic hardships, the Ministry of Poverty Eradication and Social Welfare says it is crucial that strategic plans to eradicate poverty are designed in such a way that more is done with less.
WINDHOEK – Africa’s fastest growing airline, Ethiopian Airlines, has hit back at accusations by United States-based
WINDHOEK – As the Namibian economy gradually emerges from negative to positive growth this year, policy makers need to learn from the past to avoid being trapped in recreating the same mistakes and to avoid debt accumulation as well as falling further into a debt trap.
WINDHOEK- Air Namibia’s Cooperate Communication Manager, Paul Nakawa highlighted the significance of independence by reminding Namibians not to forget the difficulties and the barbaric treatment that characterised the road to freedom
WINDHOEK – Namibia has reaffirmed its commitment to the African, Caribbean and Pacific (ACP) and European Union (EU) partnership and says it will do all it can to honour and work toward the commitments embodied in the Cotonou Agreement and post-Cotonou when it expires in 2020. This was the message by Minister of Industrialisation, Trade and SME Development, Tjekero Tweya, when he spoke on Wednesday at the 37TH session of ACP-EU Joint Parliamentary Assembly that took place in the Bucharest, Romania.
WINDHOEK - Sugar King, from the Namib Mills stable, and Waka Moo, Namibia’s first-ever children’s educational puppet and animated television program,
WINDHOEK - Chairman of the Namibia Chamber of Commerce and Industry in Windhoek, Martin Kaali Shipanga said discussions and input on the way forward for the tourism sector needs to be prioritised. According to Shipanga, Namibians should change the conversation surrounding the current economic situation, from one of looking for handouts to rather identify opportunities.
WINDHOEK - The Construction Industries Federation of Namibia (CIF) remains adamant that more bona fide Namibian construction companies will benefit from procurement activities by the government.
WINDHOEK - The Motor Vehicle Accident (MVA) Fund plans to unveil a new business strategy which will be effective from April 2019 till March 2023.
WINDHOEK – The Kudu Gas to Power project, which has in the past been hailed as the answer to Namibia’s electricity woes, has seen a revival by BW Kudu Limited, who says recent technological advancements as well as a consistent market for reliable economic energy makes the electricity project viable.
WINDHOEK – Following serious allegations of interest rate discrimination by First National Bank in South Africa, the Bank of Namibia says it is not aware of any discriminatory rules applied on banking products by any local banking institution.
WINDHOEK – The University of Science and Technology (Nust) this week hosted its annual career fair under the theme ‘Catalysing youth empowerment for the Fourth Industrial Revolution’.
WINDHOEK - Hangala Group, a diversified holding company wholly-owned and controlled by Namibians, this week announced the establishment of a Trust to hold shares in the company for the benefit of the company’s employees.
WINDHOEK – Paratus, the only Namibian telecommunications service provider to be active internationally, plans to invest a further N$114 million in local infrastructure during 2019.
WINDHOEK - The Government Institutions Pension Fund (GIPF) has urged all annuitants such as pensioners, children and spouses that receive a monthly pension benefit from GIPF to visit their nearest GIPF office to register for Biometrics.
WINDHOEK - Minister of Industrialisation, Trade and SME Development Tjekero Tweya has cautioned that Namibians should do away with ancient and counter-productive practices that frustrates potential investors, inventors, innovators and anyone who has a brilliant idea that can make a positive difference in society and thereby catapult Namibia on a positive economic trajectory.
The envisioned rapid economic transformation in line with vision 2030 towards a nation where every citizen is equally catered for, and with no prejudice to any of the classes in the society can be advanced through continuous and consistent success in the growth of small business sector in the country.
WINDHOEK – The free Public Talk held at Bank of Namibia last Friday was a sell-out success. Blockchain Technology, Crypto Currency, FinTech and Cyber Security continue to be red-hot issues that are sure to draw a crowd and inspire a lively debate.
WINDHOEK - Three ladies have taken it upon themselves to teach children aged five to 19 years about coding. Namibia Optimist Investment cc (NOI), in collaboration with the Namibia Business Innovation Institute (NBII), has created a platform for young Namibians to grasp the basics of coding.
WINDHOEK - TransNamib has confirmed that it plans to sell off some of its non-core properties in order to support growth identified in its Integrated Business Strategic Plan (IBSP) for the next five years.
SWAKOPMUND - Minister of Finance, Calle Schlettwein says investment in road infrastructure requires significant resources hence sustainable funding models must be developed and prioritised to contain operations within the financial means at all times.
WINDHOEK – Singapore stock exchange listed International Cement Group (ICG) has expressed interest in acquiring a 100 percent stake in Schwenk Namibia (Pty) Ltd for US$104.4 million, which at the current exchange rate is slightly more than N$1.5 billion. Schwenk Namibia owns close to 70 percent of Ohorongo Cement and a 100 percent share of alternative fuel supplier, EFF.
WINDHOEK – The global airline industry is reeling in shock following the tragic accident in which the Boeing 737 800 Max from Africa’s biggest and most successful airline, Ethiopian Airlines, crashed shortly after take-off on Sunday morning.
WINDHOEK – Air Namibia says that during the recent weeks, it has been in direct engagement with Challenge Air, a now
WINDHOEK - Skorpion Zinc (SZ) this weekend confirmed that its mining contractor, Basil Read, has reported the return to work by its employees who had been on strike. Basil Read is a business partner that was contracted to execute the Pit 112 push back project as a life extension-mining project for SZ. Without this life extension project, SZ would have ended its operations in 2017.
WINDHOEK - Nedbank recently released its consolidated financial results for the year 2018, which shows that despite challenging economic and operating environment, the bank managed to grow positively with an increase in its overall financial position.
WINDHOEK - On 5 March 2019, Bank Windhoek was awarded the Green Bond Pioneer Award by Climate Bonds Initiative at the 4th Annual Green Bond Pioneer Awards (GBPA), announced before an international audience in London on the eve of the 2019 Climate Bonds Annual Conference.
WINDHOEK – It is estimated that 14 Independent Power Producers (IPPs) will in total invest approximately N$1.6 billion local and foreign direct investment into the electricity sector and ultimately into the Namibian economy. This is according to the Chairman of the Electricity Control Board (ECB), Gottlieb Hinda, who in the electricity regulator’s latest annual report noted that the 14 IPPs are expected to add 70MW to the national electricity grid.
WINDHOEK - Bank Windhoek has confirmed the appointment of Anton De Wit as its Senior Legal Collections Manager effective, 1 February 2019.
WINDHOEK – This week Monday saw the official launch of The Commonwealth Business Club, whose sole aim will be to assist in the development of new trading links between businesses across the 53 countries of the Commonwealth of Nations.
WINDHOEK - Speaking at the unveiling of 324 residential erven, five commercial and five institutional erven that will make up Orwetoveni Extension 12 in Otjiwarongo, Development Bank of Namibia (CEO) Martin Inkumbi highlighted often overlooked macro-economic benefits that support the case for acceleration of delivery of serviced land and affordable housing.
WINDHOEK – The Capricorn Group yesterday officially introduced its first NeXtGen Board at an unveiling event hosted at NICE Restaurant in Windhoek.
WINDHOEK - One of the best ways to reduce the national budget deficit as a percentage of GDP is to promote economic growth. This is according local economist, Mally Likukela, who notes that if the economy grows then the government will increase tax revenue without raising taxes.
WINDHOEK - Despite increasing oil prices creeping into the market as result of the Organisation of Petroleum Exporting Countries (Opec) cutting supply into the global market, the Ministry of Mines and Energy has decided to leave local fuel
WINDHOEK – Ohorongo Cement recently accepted two students from the Commercial Advancement Training Schemes (Cats) in support of government initiatives and to contribute to closing the skills shortage gap.
WINDHOEK – For the six months that ended on 31 December 2018, the Capricorn Investment Group Limited (Capricorn Group) increased it operating profit by 11.5 percent to N$674.3 million and group profit before tax increased by 8.5 percent to N$714.2 million. Also, the group delivered growth in headline earnings per share of 9.6 percent to 93.5 cents in the first half of this financial year as revealed in their interim results released on Friday, which follows fairly flat earnings over the last two years.
WINDHOEK - Vivo Energy plc has confirmed the completion of the transaction with Engen Holdings (Pty) Limited previously announced on 18 September 2018. The transaction adds operations in eight new countries and 230 Engen-branded service
WINDHOEK - “Despite many initiatives government has put in place, education especially at tertiary level is still not affordable for many of our students. It is a growing burden of government and on the parents, who want to see their children get the
WINDHOEK – Namibia’s annual growth in broad money supply (M2) increased at the end of January 2019. According to the latest Money and Statistics report by the Bank of Namibia (BoN), the 12-month growth in M2 increased to 7.6 percent at the end of January 2019, relative to 6.4 percent recorded at the end of December 2018.
WINDHOEK – With the date of the tabling of the national budget confirmed for Wednesday, 13 March, 2019, economists have pointed out the bloated wage bill, under-performing public enterprises, including a review of the public sector, and the budget deficit as some of the most crucial aspects that Finance Minister, Calle Schlettwein, needs to address.
WINDHOEK - This week, the Namibian Ports Authority (Namport) witnessed the first-ever offloading of Petroleum Coke (Petcoke) consignment. The 37 900 tonnes cargo, which is expected to take nine to 10 days for packing
WINDHOEK - The Government Institutions Pension Fund (GIPF) yesterday officially opened its branch in Eenhana, situated in Onawa complex, Tobias Harelbeke Street. The opening of the branch was necessitated by the outcry for more accessible services in the Ohangwena Region and it is aligned to the Fund’s overall corporate strategy.
WINDHOEK - FirstRand Namibia Limited has confirmed the appointment of Erwin Tjipuka as FNB Namibia’s new Chief Executive Officer, effective April 01, 2019, while current CEO, Sarel van Zyl, will continue to serve in his role as CEO of the FirstRand Namibia Group.
WINDHOEK - Namibia Wildlife Resorts (NWR) was yesterday presented with two Diamond Arrow awards as the leading organisation in tourism and conservation enhancement in Namibia as well as the leading tourism company in the country. The awards were received from PMR.africa.
LUDERITZ - The 12th edition of the Annual Lüderitz Crayfish Festival was launched at the Lüderitz Nest Hotel on Friday night. The event raised just over N$2 million through pledges by the business sector and some individuals at the launch.
WINDHOEK – The mining sector, which is one of the most important sectors in in terms of Gross Domestic Product (GDP) contributions, will only continue to be an important factor to the domestic economy if new mines are discovered.
WINDHOEK - Ethiopian Airlines, Africa’s largest airline group, has confirmed that it has finalised all preparations to once again celebrate International Women’s Day by operating an All Women Functioned Flight, this time on the Addis Ababa to Stockholm to Oslo route on March 8.
WINDHOEK - The possibility of no Brexit trade agreements in place next month is increasing fear about Namibia’s meat export to the United Kingdom worth some N$236 million per annum.
WINDHOEK – Debmarine Namibia’s 2018 revenue increased 11 percent to N$8.9 billion, driven by increased production, improved consumer demand, competitive pricing as well as the weakening of the Namibia dollar against the US dollar.
WINDHOEK - The Roads Authority (RA) held a press briefing on Friday morning to clarify issues regarding overdue payments to contractors and to provide feedback on the current status of the projects.
WINDHOEK - Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, says state-owned enterprises (SOEs) can benefit from purposeful finance to enable them to fulfill their mandates to develop Namibia using corporate finance.
WINDHOEK - When American music icon Prince passed away in April 2016 many were shocked to learn that he had no will for his estate, which was valued at around US$200 million by Forbes Magazine. For almost three years after his death his estate was still in limbo.
WINDHOEK – A sluggish and weak domestic economy in 2018 that is struggling to recover from an ongoing recession, following negative growth of 0.9 percent recorded in 2017, is taking its toll on both business and households
WINDHOEK - Namibia Wildlife Resorts (NWR) has for the past few years focused its efforts on offering the domestic and international markets the only opportunity to stay within Namibia’s national parks. Over time, this has provided guests with the chance to enjoy an early morning game drive or experience a breath-taking sunset at Sossusvlei.
We all need to plan for our futures and that of our children. Saving for retirement or education is essential, especially if you want to achieve financial independence. This should be a concern for all Namibians in their journey toward economic self-reliance.
Running a small business, or being a lawyer, plumber, architect, doctor or whatever form of self-employment, you find yourself in, you are bound to use a computer. Whether it is an Apple or PC or a portable device, software, back-up, apps and
WINDHOEK - Education is the bedrock for propelling the next generation into a thriving future, the lynchpin for the prospective prosperity of a country and its people. Few would argue with this fact. Yet what happens if the circumstances for a solid education are simply unfavourable?
WINDHOEK - MTC’s Chief Human Capital & Corporate Affairs Officer and the Founder and President of the Institute of People Management of Namibia, Tim Ekandjo, was recently awarded the “100 Global HR Heroes Award” at the 27th World HRD Congress. The World HRD Congress took place from the 15 to 17 February at Taj Lands Mumbai and was attended by over 1300+ global leaders from various continents including Asia, Africa and USA.
WINDHOEK – Last Friday, the enthusiastic young competition winners and their parents gathered at the Sanlam Investments office in Windhoek to receive their prizes handed to them by Tega Shiimi ya Shiimi, CEO of Sanlam Investments Namibia. Fifty winners located across Namibia each received a school bag filled with stationeries.
WINDHOEK – Namibian Competition Commission (NaCC) is seeking input from interested parties such as the National Petroleum Corporation of Namibia (Namcor)’s customers and competitors in respect of the competitive implications of the proposed reinstatement of the petroleum importation mandate.
WINDHOEK – This year opened with the annual inflation rate at 4.7 percent, which was a 1.1 percentage point higher than the 3.6 percent registered in January 2018. However, this is still lower than 5.1 percent in December 2018 and 5.6 percent in November 2018.
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.
WINDHOEK - The Ohlthaver & List (O&L) Group Executive Chairman, Sven Thieme, on Thursday announced a change in leadership in the company that is the largest private employer in the country.
WINDHOEK - FirstRand Namibia’s interim results for the period ended 31 December 2018 demonstrates continued strong performance in the face of a difficult economic climate that has seen the local economy contract for the last two consecutive years.
WINDHOEK – Coming off the back of a passive draw against Tura Magic in midweek action, defending champions African Stars will this weekend return to action when they confront traditional rivals Orlando Pirates in what is expected to be a thrilling derby.
WINDHOEK – The Minister of Fisheries and Marine Resources, Bernardt Esau, is not happy with the coordination of activities in the country’s aquaculture stations, saying that production activities are still not sustainable
WINDHOEK - The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday announced that the Repo rate has been left unchanged at 6.75 percent to continue supporting domestic economic growth.
WINDHOEK – Namibia must take value addition within the fishing sector, which remains one of the country’s key economic sectors, to new heights in 2019. This is according to Fisheries and Marine Resources Minister, Bernhardt Esau,
WINDHOEK – As Valentine’s Day is tomorrow, it is not just florists and gift shops hoping to boost their revenue as a number of Namibian companies have decided to celebrate the day of love with their customers by offering enticing Valentine’s Day specials at reasonable prices.
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.
WINDHOEK – Dinapama Manufacturing and Supplies, a wholly-owned local clothing manufacturer, has, in conjunction with the labour ministry, yesterday embarked on an initiative to improve productivity which, in turn, is expected to reduce costs and improve quality
WINDHOEK - Total production costs of dairy producers have increased by more than 55 percent over the past year compared to their income, which has dropped due to producer price cuts of 30 cents per litre of milk.
WINDHOEK - Valentine’s Day is synonymous with the traditional exchange of cards, chocolates, gifts and sharing a candle-lit dinner with loved ones. It not only signals appreciation and love for one another; but is also a life-long tradition that is celebrated in most parts of the world.
WINDHOEK - Southern Business School Namibia is giving radio listeners that want to pursue their education the chance to do just that. Two lucky winners can win scholarships on Fresh FM and Omulunga Radio.
Business norms have changed – the importance of long term, purposeful corporate social investments (CSI) has increased and has now become a priority for business leaders globally.
JOHANNESBURG - The South African government says good progress has been made in negotiations to re-open markets for South African meat products following the end of a foot-and-mouth disease outbreak in Limpopo.
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.
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.
It’s no secret that the success of small businesses is vital to the success and wellbeing of any economy. However, to succeed, business owners must effectively manage multiple aspects of their enterprises. One such aspect is pricing.
RUNDU - The Kavango East Regional Governor, Dr Samuel Mbambo, says the Development Bank of Namibia (DBN) is ideally placed to change the culture of reliance on the country’s neighbours and other countries.
The Namibian government has succeeded in slowing growth in public debt over the past two years from a high of 45.1 percent y/y in February 2017 to the 17.5 percent recorded in January 2019.