WINDHOEK - The African Union together with the International Air Transport Association (IATA), the African Airlines Association and the African Civil Aviation Commission, last week published a Single Africa Air Transport Market (SAATM) handbook.
WINDHOEK - Global Credit Ratings (GCR) has affirmed the national scale ratings assigned to Capricorn Investment Group Limited and Bank Windhoek Limited of AA (NA) and A1+(NA) in the long-term and short-term respectively; with the outlook accorded as stable. Furthermore, Global Credit Ratings has affirmed the long-term South African national scale (Rand) issuer rating of A+(ZA) assigned to Bank Windhoek Limited; with the outlook also accorded as stable.
WINDHOEK - FNB Namibia’s newly-elevated and exclusive banking experience, called FNB Private Wealth revealed it’s new-look, turquoise-rimmed flat black debit card last week.
WINDHOEK - Standard Bank Namibia, together with MasterCard, last week launched their Lounge Key programme, which allows the bank’s Private Banking and Prestige Banking customers free access to 850 VIP lounges at international airports across the world, including Eros Airport.
Bank Windhoek reached a milestone this week Wednesday when it announced the successful issuance of Namibia’s first Green Bond. This achievement positions Bank Windhoek as the first local commercial bank to issue a Green Bond not only domestically but across the Southern African region.
Preliminary reports prepared by the International Civil Aviation Organisation (ICAO) has given Namibia flying colours in the security audit conducted from 19 to 28
WINDHOEK - Ethiopian Airlines, the largest aviation group in Africa and a Skytrax-certified four-star global airline has been crowned company of the year by All Africa Business Leaders Award (AABLA) on 29 November 2018 in Sandton, Johannesburg.
WINDHOEK - Upgrading of rural communities as part of the MTC 081Every1 project remains a pivotal tool towards achieving technological driven economy and the opportunities abound with it.
WINDHOEK - Team Prosperity Brokers from the University of Namibia (Unam) were announced as winners of the Scholars Investment Challenge 2018 at a prize-giving function held at the Namibia University of Science and Technology (Nust) last week Friday in Windhoek.
The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday revealed that the Repo rate, the rate at which commercial banks borrow from the central bank which in turn determines interest rates, has been left unchanged at 6.75 percent. The MPC said the rate remains appropriate to maintain the one-to-one link between the Namibia Dollar and the South African Rand, while supporting domestic economic growth.
WINDHOEK – The mining industry continues to be a significant driver of domestic economic growth to the extent that during the last four years over N$32 billion has been invested in new mines and reinvestments.
WINDHOEK - As per the Payments Association of Namibia Public Notice on 16 November 2018, and the Bankers’ Association of Namibia’s notice, cheques as a payment method in Namibia will no longer be accepted as of 30 June 2019.
WINDHOEK - Desert Fruit Namibia is one of only a handful of known producers of Fresh Bahri Dates in the Southern Hemisphere, and these dates, while relatively unknown in Europe and the US, remain a sought-after delicacy in the Middle East, with rising demand from the Muslim and Asian markets.
WINDHOEK - Out of the 15 categories, Namibia brought home two awards from the recent Southern Africa Startup Awards (SASAwards), which was held for the first time to celebrate and recognise the spirit of innovation and achievement in the startup ecosystem in the SADC region. SASA Namibia was represented by 11 regional winners from nine startups at the SASAwards grand finale that took place on 21 and 22 November 2018 in Johannesburg, South Africa.
WINDHOEK - TransNamib Holdings Ltd, and Botswana Railways (BR) recently signed a Memorandum of Understanding (MoU) in Gaborone, Botswana, which will culminate in the development and operation of a container terminal in Gobabis.
WINDHOEK - Namibia Wildlife Resorts (NWR) recently returned from marketing and networking session in Ghana, aimed at luring Ghanaian visitors to their resorts. The event took place on November 30, 2018 in conjunction with Air Namibia’s local representative who gave attendees the benefits of flying with Air Namibia.
WINDHOEK – NamPower has declared a dividend of N$60.7 million to its shareholder, the government yesterday. The dividend was approved at the electricity utility’s most recent annual general meeting where the NamPower board of directors decided to declare the dividend for the financial year ended June 30, 2018.
WINDHOEK – The much-awaited operationalisation of the Namibia Revenue Agency (Namra) continued to gain momentum yesterday. With the announcement of its Board of Directors before the semi-autonomous agency, it is scheduled to commence at the beginning of March 2019. Namra was established at the end of 2017 with the promulgation of the Namibia Revenue Agency Act after Cabinet approval in 2013, and will replace the current Inland Revenue Department in the Ministry of Finance.
WINDHOEK – The Public Private Partnership (PPP) Committee, which will play a central role in the monitoring, evaluation, and implementation of PPPs, was yesterday announced by Finance Minister, Calle Schlettwein. Economic analysts believe that PPPs could provide amicable solutions to infrastructure development and economic growth in the domestic economy that is struggling to rebound from a recession. The main purpose of PPPs is to leverage private capital for national infrastructure developments.
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WINDHOEK - The Namibia Financial Capability Survey results were recently released at the Bank of Namibia, indicating that the average overall Namibia Financial Capability Survey for 2017 was 52.94 percent, which is a 10 percent increase, compared to 2013. The survey also showed that financial knowledge increased with 0.07 percent, and financial behaviour with 18.51 percent.
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WINDHOEK – The Ministry of Mines and Energy expects the Rössing Uranium Mine to continue operating under its existing and planned programs until otherwise informed by the board of directors or management of Rössing Uranium Limited.
WINDHOEK – The Namibia University of Science and Technology (Nust), in conjunction with Engineers Without Borders Canada – Mining Shared Value (EWB-MSV), and the Canadian International Resources and Development Institute (CIRDI) is scheduled to host a forum on supporting effective mining local procurement strategies and best practices. The forum is slated for next week Wednesday at the NUST Hotel School in Windhoek.
WINDHOEK – Minister of Mines and Energy, Tom Alweendo, is concerned about recent job losses within the mining sector and has called on Namibian mining executives to brainstorm on how to retain employment for Namibians as well as to create prospects for unemployed graduates to benefit from the country’s extractive resources. Alweendo expressed his concern during a briefing with mining industry executives in Windhoek yesterday.
SWAKOPMUND - QKR Cooperation Limited has appointed George Botshiwe as the new Managing Director of the QKR Namibia Navachab Gold Mine, effective as of November 01, 2018. Botshiwe replaces Johan Coetzee who served as the managing director of the mine for the past five years.
Telecom brings in 1.5 billion in turnover
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As Green, we were privileged to be the only Namibian ICT company to be an exhibitor at AfricaCom 2018, just as we had been last year. We shared the booth with Submer whose Submer Smartpod is a green (environmentally green) solution for datacenter cooling – great to be partnering with such a cutting-edge technology company. What struck me at AfricaCom this
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WINDHOEK – President Hage Geingob, while speaking at the 10th anniversary partnership celebration between Huawei and MTC this week, stated that for Namibia to achieve the tenets of the AU Agenda 2063, “it is pertinent that we encourage, support and foster technological progress on the continent, to augment economic growth and stimulate positive social change.”
WINDHOEK - The FirstRand Namibia Foundation Trust re-iterated its financial commitment and pledged more than N$364 000 to CHANGE, highlighting the continued commitment towards education and skills development programmes. Amongst its various courses, CHANGE provides a fashion design and tailoring programme, as well as business training.
WINDHOEK – Epangelo Mining, the State-owned mining company established in 2008 to occupy a significant position in major commodity businesses, inclusive of uranium, has confirmed that while it was not offered a first-right of refusal for the Rio Tinto shares in Rössing Uranium, because it is not a direct shareholder in the mine, it is in fact interested in increasing government’s three percent stake in Rössing Uranium. CEO of Epangelo Mining, Eliphas Hawala, yesterday explained to New Era that only the government is entitled to receive a first right to refusal offer because government is a direct shareholder in the mine.
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WINDHOEK - The festive season is a time of high risk for impulse spending – buying something because you see it, not because you need it. In light of Namibia’s economic downturn, fostering healthy spending behaviour has been top of mind for their citizens. Martha Murorua, Executive Officer for Consumer Banking at FNB Namibia, shares her thoughts.
WINDHOEK – MTC and Huawei on Monday celebrated 10 years of strategic partnership in the technological space. Guest of honour at the momentous occasion was President Hage Geingob.
WINDHOEK - After the tremendous success of the 2018 Start-Up Festival in Windhoek, the Gobabis Municipality in cooperation with the Financial Literacy Initiative hosted a Micro Business Start-up Festival in Gobabis this past weekend (24 November 2018) in the Freedom Square Informal Settlement.
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WINDHOEK – The Minister of Industrialisation, Trade and SME Development, Tjekero Tweya, last week officially opened the Dr Shapumba Warehouses and Office Complex in Windhoek’s Northern Industrial Area.
WINDHOEK – The International Air Transport Association (IATA) yesterday commended African governments for their cooperation but has called for closer collaboration, particularly in the fields of safety and environmental sustainability.
WINDHOEK – Two Namibian companies, Pupkewitz Megabuild and Kaap Agri Namibia, are encouraging the responsible use of plastic shopping bags by introducing a fee for the bags.
WINDHOEK – The Ministry of Works and Transport is in the process of drafting a proposal for Namibia to accede to the Single African Air Transport Market (SAATM), which was launched in Addis Ababa, Ethiopia, at the end of January 2018.
WINDHOEK – Nedbank Namibia’s new Head Office will represent close to half a billion Namibian dollars in capital expenditure with building activities gobbling up close to N$700 000 daily during the construction period. Also, Nedbank decided to use only local procurement as a way to inject an elixir into the local economy.
WINDHOEK – Vna Native Foods, the relatively young business that last week walked away with the one-million-dollar prize at the Development Bank of Namibia’s 2018 Innovation Awards, is determined to become a household brand in the country.
WINDHOEK - MTC Namibia partnered with Huawei to put the 4T6S solution into large-scale commercial use. The area selected to benefit from this solution is the central business district of Windhoek. This move is a conscious decision by MTC to efficiently improve network capacity and overall user experience while helping to slash site power consumption and total cost of operation.
WINDHOEK – As the year is quickly nearing its end, Namibia Wildlife Resorts (NWR) is reflecting on some of the progress it made in 2018. NWR emphasises that the economic challenges facing the country played a significant role in how the company fared but notes that these trying times show how resilient the company is.
In many first world economies, the effects of global warming continue to manifest as a business reality. In response to this crisis, the Namibian banking sector, in support of the Millennium Development Goals, is mandated to play a vital role in accelerating the local market’s transition to a lower-carbon energy future.
WINDHOEK - The Prosperity Group recently hosted brokers, shareholders, senior management and the media at the new San Karros Daan Viljoen Mountain View venue. The aim of the cocktail event was to showcase the new conference and entertainment venue within the Daan Viljoen Park, while at the same time introducing the Prosperity Lifecare Insurance product range for 2019, with some new additions and tweaks.
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WINDHOEK - Mobile Telecommunications Company (MTC) has announced that as of November 9, 2018 it has reached the 2.5 million active subscribers mark on its books. This is quite a remarkable feat considering the Namibian Statistics Agency estimates that the entire Namibian population is 2.413 million people. MTC’s calculation is based on an active subscriber’s definition by global industry standards, meaning that an active SIM subscriber implies that the SIM card should have been active in the last three months to be defined as such. An inactive SIM card less than three months is not considered be as an active SIM card.
WINDHOEK – Direct Pay Online (DPO) Group, one of the leading online payments service provider in Africa, announced that it obtained a Payment Facilitator licence from the Payments Association of Namibia (PAN) at the end of September. The licence, which took them about a year to secure, enables the DPO Group to roll out its payment services directly to Namibian businesses and entrepreneurs.
WINDHOEK - Capricorn Group, Bank Windhoek’s holding company, recently launched its seven month Management Development Programme (MDP), in partnership with the University of Stellenbosch Business School (USB).
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WINDHOEK - Chairperson of the Bankers Association of Namibia (BAN), Vetumbuavi Mungunda, has advised that the industry will completely phase out cheques as a payment instrument by June 2019.
WINDHOEK - A service level agreement signed this week between the Namibia University of Science and Technology (NUST) and the Social Security Commission (SSC) will facilitate skills training in gemology, jewellery design and entrepreneurship for the country’s unemployed youth. The agreement, for which N$2 million has been reserved by SSC, was signed on Tuesday by Dr Tjama Tjivikua, NUST vice-chancellor (pro tem), and SSC chief executive officer, Milka Mungunda.
WINDHOEK – Consumers within the financial services sphere are becoming more and more educated particularly with regard to knowing and understanding their rights as customers. This, according to the Namibia Financial Institutions Supervisory Authority (Namfisa), is evident from the number of consumer complaints that have been steadily increasing on an annual basis.
WINDHOEK - This Friday is Black Friday, a huge shopping event which sees people all over the world getting discounted products as retailers’ slash prices.
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CAPE TOWN – A Namibian corporate Information Communication Technology (ICT) solutions provider, Green Enterprise Solutions, also known as Green, last week clinched significant potential deals at the just ended AfricaCom Expo held at the Cape Town International Convention Centre (CTICC). This is according to the company’s Marketing and Communication Coordinator, Agnes Nyirenda.
GOBABIS – ABInBev Namibia, the brewing company situated in Okahandja, contributed N$300 000 to the Lady Pohamba Maternity Shelter in Gobabis, the capital of Omahake Region. The donation is to be used for the construction of the
WINDHOEK - The Road Fund Administration (RFA) has cautioned that closing of funding gaps along with initiating other revenue solutions will be required in both the medium and long-term in order to meet targets set out in the fifth National Development Plan, Harambee Prosperity Plan and Vision 2030.
WINDHOEK - At the Annual Integrated Reporting Awards 2018, hosted in Johannesburg by Chartered Secretaries Southern Africa in partnership with the JSE Limited on 14 November 2018, Capricorn Group took home the Best Regional Company Award 2018.
WINDHOEK - PowerCom Pty Ltd is currently in the process of constructing a new 30m Lattice tower at Kuisebmond which will be fully commissioned by January 2019 as part of its commitment to infrastructure investment. Demand for tower space has continued to grow in Kuisebmond, as well as across Namibia. The tower infrastructure company is responding to these demands and beginning their 2019 construction schedule in Kuisebmond.
WINDHOEK - Winner of N$1 million in the Development Bank of Namibia 2018 Innovation Award, VNA Native Foods, provided a plan to manufacture powdered soup made from African spinach. The product will provide an additional outlet for local agriculture, contribute to the Agri-industry, and be an alternative to imported powdered soups.
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CAPE TOWN –There is critical shortage of skilled ICT professionals in Sub-Saharan Africa, which hampers the growth of a thriving ICT sector, which underpins economic growth. To address this skills shortage, Huawei launched an ICT Talent Ecosystem Programme in Sub-Saharan Africa at Africacom 2018 - the largest telecommunications event in Africa, being held Cape Town.
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WINDHOEK - Vivo Energy, the market-leading company that distribute and markets Shell branded fuels and lubricants in Africa, held its annual Safety Day on Thursday. The Safety Day was an opportunity for all parties at Vivo Energy to refocus on the importance of Health, Safety, and Security & Environment (HSSE).
WINDHOEK - The Ministry of Mines and Energy says it has noticed with growing concern the illegal activities taking place at the Oshikango border post in the Ohangwena Region where large amounts of illegal fuel are smuggled into the country for resale. Angolan petrol sells for just over N$6 per litre and diesel for about N$7.30 per litre compared to well over N$14 per litre in Namibia.
CAPE TOWN – Mobile Telecommunications Limited (MTC), the country’s largest mobile operator, has launched a comprehensive fibre internet and digital Cloud computing service to spearhead digital transformation in the country.
WINDHOEK - The Namibia Statistics Agency’s (NSA’s) latest Consumer Price Index and inflation rate estimates for the month of October 2018 indicate that the annual inflation rate slowed to 5.1 percent compared to 5.2 percent recorded in October 2017, registering a decrease of 0.1 percentage points. Based on October 2018 price movements, the monthly inflation rate stood at 0.4 percent compared to 0.8 percent registered a month earlier.
WINDHOEK - Nedbank Namibia Corporate and Investment Banking (CIB) and Noric Otavi Steel Processing (Pty) Ltd this week signed an agreement for Nedbank to act as the lead arranger for the Otavi Steel Manufacturing Plant project in Otavi. According to the agreement, Nedbank will assist with the financial structuring of the project and facilitate the raising of both quasi-equity and debt capital for the N$2.7 billion project.
WINDHOEK - Vetumbuavi Mungunda, the Managing Director of Standard Bank Namibia, was awarded with the Institute of People Management’s MD of the Year Award at its recently concluded IPM Excellence Gala Dinner Awards. The glamorous event took place at Hilton Hotel in front of a packed audience on Tuesday.
WINDHOEK - Running a small family business in Namibia is not for the faint of heart. Laurence Theron, born in Swakopmund and living in Walvis Bay, says it’s getting tougher for small and medium (SME)-size businesses to survive.
WINDHOEK - Green Enterprise Solutions (Green) this week once again attended Africa’s largest Telecom Conference in Cape Town. Green is the only Namibian company to be an exhibitor with its own stand at this pan-African event.
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WINDHOEK - Namibia Wildlife Resorts (NWR) has to date paid N$60 million in interest to the Development Bank of Namibia (DBN), as interest on the N$120 million loan the company borrowed in 2006, Managing Director Zelna Hengari said.
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WINDHOEK - J&B Estates was awarded as the Top Estate Agency for the Coastal Region at the recently concluded Bank Windhoek Coastal Estate Agents Awards ceremony hosted in Walvis Bay.
WINDHOEK - Last week the FirstRand Namibia Foundation Trust handed over 10 refurbished computers to the Eldorado Secondary School. Principal Salwa Khedr said most of the computers will be used to increase learner intake in the ‘office practice’ subject, while two will be used in the school library.
WINDHOEK – A team from the International Monetary Fund (IMF) that visited Namibia at the beginning of November are of the opinion that a gradual recovery is imminent from the recessionary phase experienced in economy.
WINDHOEK - Bank Windhoek received the Gold award as the best Corporate Clinic in Namibia for the sixth consecutive year at a Namibia Blood Transfusion Services (NAMBTS) Annual General Meeting (AGM) hosted last week in Windhoek.
WINDHOEK - The inaugural Afrox Leadership Academy programme culminated in a gala dinner attended by First Lady Monica Geingos, in Windhoek on Friday, November 9, at Safari Hotel. The Afrox Leadership Academy was birthed out of the desire by the management of Afrox Namibia to identify the best possible method for intervention in skills development and poverty eradication in Namibia.
WINDHOEK – Namibia Wildlife Resorts (NWR) and Namibia Public Workers Union (Napwu) have reached a deadlock regarding the proposed salary increment for its employees. The deadlock has resulted in Napwu receiving a certificate of unresolved dispute that provides them with the mandate to go on strike after the rules of engagement are agreed between the two parties.
WINDHOEK – The Confederation of Namibian Fishing Associations has welcomed the Cabinet approved Total Allowable Catch (TAC) for hake of 154 000 metric tons for the 2018/2019 fishing season, which begins November 1 and ends on September 30, 2019. According to chairman of the confederation, Matti Amukwa, the TAC, which is recommended by fisheries scientists in the Ministry of Fisheries and Marine Resources, is much like an individual’s salary in that you can get by what you have but you would always welcome more.
WINDHOEK - Using wealth to bring about a positive change to the world as well as leaving behind a legacy for your family and the next generation, were the underlining themes of the Nedbank Namibia Private Wealth official launch which took place on Wednesday, 7 November at the Am Weinberg Estate in Klein Windhoek.
WINDHOEK – Up to 19 member states of the African Regional Intellectual Property Organisation (ARIPO) will meet in Windhoek for the 42nd Administrative Council meeting from 19 to 23 November 2018. ARIPO is an inter-governmental
This week New Era’s Senior Business Reporter, Edgar Brandt (EB), interviewed the Business Development Manager of Finnish energy firm, Wärtsilä, Mark Zoeters (MZ) who formed part of a Finnish business delegation that recently visited Namibia for a business seminar themed ‘Finland World Ideas’. The seminar was organised by the Finnish embassy.
WINDHOEK - “I could not wish for more; the infrastructure is ready and it is now up to NamPost to utilize it maximally and create efficiencies that impact positively on both the customer and the staff of NamPost.” These sentiments were expressed by Nangula Hamunyela, chairperson of the Namibia Post Limited Board, when he officially inaugurated NamPost’s new courier warehouse on Wednesday.
WINDHOEK - AB InBev Namibia in partnership with the Ministry of Agriculture Water and Forestry (MAWF) this week officially signed a memorandum of understanding (MoU) related to ensuring Namibia’s water sustainability
WINDHOEK - Despite prevalent economic headwinds which have an adverse impact on revenue collection, government is staying the course to rein in the fiscal deficit and total public debt, as announced by Minister of Finance, Calle Schlettwein, when he presented the fourth Mid-year Budget Review at the end of October.
WINDHOEK - The Windhoek Country Club Resort and Casino (WCCR) has announced the opening of the new Puku bar and restaurant at the pool area of the resort.
WINDHOEK - Since the introduction of digital channels, be it on a PC or mobile phone, fraudsters have targeted unsuspecting users of these channels. This ranges from incidents related to phishing, card swopping, skimming, ATM fraud, and identity theft, 419 scams and sim swopping.
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WINDHOEK – Economists have cautioned that the country-wide increase in fuel prices of N$0.50 per litre for petrol and N$0.70 per litre for diesel, which came into effect today, will continue to push up inflation. This is because rising fuel prices will result in higher transportation costs which will gradually lead to higher prices for consumer products.
WINDHOEK – Motorists will have to brace themselves again on Wednesday this week when the recent warnings by economists that the fuel prices will continue to rise will become reality. Minister of Mines and Energy. Tom Alweendo, confirmed in a statement yesterday that Petrol will increase by 50 cents a litre while all grades of Diesel will go up by 70 cents a litre.
WINDHOEK - The stronger growth in credit extended to the private sector compared to credit extended to individuals is in general a welcome sign since households or individuals are already highly indebted.
WINDHOEK - Etosha Fishing Corporation asserted its position as a leading producer of quality canned fish products at the 6th Annual National Quality Awards hosted by the Namibian Standards Institution (NSI) in October. The company once again received top honours by winning three of the five large enterprise categories, including Company of the Year, Exporter of the Year and Product of the Year, a feat it managed in both 2015 and 2017.
WINDHOEK - The World Bank’s (WB) Doing Business Report 2019, released at the end of October 2018, shows Namibia dropped one rank from 106 to 107 out of a total of 190 countries. The report ranks Namibia as 7th out of 14-member states of the Southern African Development Community (SADC) just like last year. However, while five SADC member states improved the ranking by up to five places (Mauritius) and one country maintained the ranking (South Africa), most SADC countries dropped by up to seven places (Tanzania).
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WINDHOEK – The ministry of labour has announced new minimum wages for domestic workers, which came into effect on October 1, 2018. The new wages for domestic workers were determined by a one percent increase coupled with the average inflation rate on basic items.
WINDHOEK – The Namibia Integrated Employment Information System (NIEIS) has placed over 5 000 people in jobs at various organisations across the country since its inception in 2013.
WINDHOEK - In the latest housing index by FNB Namibia, Group Economist Namene Kalili concluded that the stage has been set for lower housing demand. “This can be based on economic growth stagnating, consumer confidence waning, increased affordable housing delivery, increased land delivery, rising interest rates, rising home ownership costs and the economy still shedding jobs.”
WINDHOEK - The Gondwana Collection Namibia opens its new lodge, The Desert Grace, in the endless expanse of the Namib Desert today.
KEETMANSHOOP - The Namibian and Indonesian governments have signed a plan of action to help practical collaboration in the fisheries area between the two countries.
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WINDHOEK - With an ever-changing global communication ecosystem, the need to invest heavily in infrastructure remains a critical component for the growth of any telecommunications company if their goal is to survive in the cutthroat communication industry.
WINDHOEK - Standard Bank Namibia recently appointment Daniel van Der Merwe as its new commercial relationship manager.
WINDHOEK - Aqua Real Estate was awarded the top estate agent award in both residential and commercial categories for the central region at a glittering Bank Windhoek Central Estate Agents Awards in Windhoek last week. Virgo Real Estate and Hot Properties took the second and third spot respectrively.
WINDHOEK - Pupkewitz Megabuild last week opened a new branch at Outjo.
WINDHOEK - Mika Lintilä, the Minister of Economic Affairs of the Republic of Finland, who arrived in Namibia on Saturday, is visiting the country for a week. The visit is organised in collaboration with Team Finland and Business Finland and includes about 50 industry leaders from 32 Finnish companies and institutions, making it one of the biggest business delegations of Finland so far accompanying the minister of economic affairs abroad.
WINDHOEK - International media from Reuters to CNBC was abuzz this weekend with news that Namibia has scrapped the requirement for partial black ownership and management of companies seeking mining exploration licenses. The Chamber of Mines said on Friday the requirements had been set aside by Mines and Energy Minister, Tom Alweendo, in a letter to the group.
WINDHOEK – While no new taxes were proposed yesterday by Finance Minister Calle Schlettwein, he mentioned that his ministry had made detailed income tax proposals available for further consultation. According to him, concerns were raised that some of the proposed changes will put additional strain on the already weak economy instead of stimulating growth.
WINDHOEK - “Investing in scary times” was the theme of an event held by Eos Capital, a private equity manager, in Windhoek on Tuesday. Speaking at the event was the CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Tanya van Lill, with the key message that pension funds in Namibia can find attractive and safe returns during these times by investing in private equity and infrastructure funds while also helping to stimulate the economy.
WINDHOEK - Privately owned solar generation is a significant force for the future of Namibian enterprises, says Development Bank of Namibia Head of Marketing and Corporate Communication, Jerome Mutumba.
WINDHOEK - In these trying economic times some relief for consumers came yesterday when the Bank of Namibia’s Monetary Policy Committee (MPC) left the repo rate unchanged at 6.75 percent. According to the MPC, this rate is appropriate to maintain the one-to-one link between the Namibia Dollar and the South African Rand, while supporting domestic economic growth. The repo rate is the rate at which commercial banks borrow money from the central bank and in turn determines interest rates charged to bank customers.
WINDHOEK – The Windhoek Country Club Resort and Casino (WCCR) yesterday handed over a dividend cheque of N$6 million to government for the 2017/18 financial year, representing between 15 percent to 20 percent of EBITA (earnings before interest, taxes and amortisation).
WINDHOEK - Her Majesty’s Revenue and Customs (HMRC) in the United Kingdom on October 08 designated the Botswana Stock Exchange Limited (BSEL) as a “Recognised Stock Exchange”.
WINDHOEK - In the wake of ever-increasing advances in criminalistics activities around forging of documents, the need for advanced machine assisted verification of documents is higher than ever.
WINDHOEK – Air Namibia says it intends to challenge a court case in which a now defunct Belgian aviation industry carrier, Challenge Air, is demanding more than N$400 million (EUR 25 million).
As the 5th National ICT Summit draws to a close, we can look back on an event that has grown and matured over the years. With stakeholders from all sectors, taking part and discussing ICT and how it can assist in propelling our great nation forward to growth and prosperity and affect real socio-economic change.
WINDHOEK - With Namibia’s role as a logistics hub in the southern Africa region becoming more apparent, business and job opportunities increased exponentially in Namibia’s harbours and transport sector. Andreas Armas of Andreas Armas Stevedoring CC and Misty Bay CC says he runs successful businesses in this tough sector.
The end of another year is rapidly approaching and all thoughts are on December, the festive season is the season of giving. This means bonuses, 13th cheques are on the way and some employers even give a 14th cheque.
WINDHOEK - In an effort to curb anti-competitive behaviour amongst Namibian companies, the Namibian Competition Commission (NaCC) yesterday launched its Corporate Leniency Programme (CLP). The CLP provides a framework for businesses engaged in cartel conduct to report themselves to the Commission and hand over evidence regarding cartel conduct in return for lenient treatment.
WINDHOEK - Last week Nedbank Namibia hosted a business luncheon at Hotel Heinitzburg, which was attended by the who’s who of the Namibian business community, including the Minister of Finance Calle Schlettwein and Minister of Mines and Energy, Tom Alweendo.
WINDHOEK - This week Namibia will launch the Southern African Development Community (SADC) Centre for Renewable Energy and Energy Efficiency (SACREEE). The centre will be launched through the Ministry of Mines and Energy in Windhoek on 24 October 2018 at an event that will be officiated by the Minister of Mines and Energy Namibia, Tom Alweendo.
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WINDHOEK - The development of any country relies largely on the quality of human capital. Education plays a vital role in the development of human capital and is linked with individuals’ well-being and opportunities for better living.
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WINDHOEK - For the second time in a row, the Bank of Namibia has clinched the Deloitte Best Company to Work For Award , having won the award also in 2017. The bank was awarded a Platinum Seal of Achievement in the Small/Medium Size Company Category of companies with fewer than 500 employees at an award ceremony that took place on Wednesday, October 17.
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.
WINDHOEK - Bank Windhoek opened its new agency in Gobabis at the town’s newly built shopping mall in September.
WINDHOEK - The FirstRand Namibia Foundation Trust handed over an amount of N$606 000 towards SME’s Compete for mentorship, business growth support and business skills training.
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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.
WINDHOEK - Cyber-attacks that steal personal information, and even financial information, have become more sophisticated and can happen in seconds. For this reason, it is paramount to know how to prepare for, as well as how to identify and prevent these attacks in our interconnected world.
WINDHOEK- In order to improve Namibia’s economic competitiveness with regard to the ease of doing business, reforms regarding service procedures need to be instituted.
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WINDHOEK - The FNB’s Rewards programme, which was launched in November last year, has thus far paid out over a whopping N$11 million to a total of 87 707 customers.
WINDHOEK - FNB Namibia has introduced another first to the market, with the innovative card-less cash deposits at their Advanced Deposit Taking ATMs.
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.
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.
WINDHOEK - The chairperson of the board of directors of Rössing Uranium Limited, Foibe Namene, has confirmed the appointment of Richard Storrie as the new managing director of Rössing Uranium Limited as from October 29, 2018.
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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.
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”.
WINDHOEK - Ethiopian Maintenance and Engineering Services, the largest and oldest aircraft maintenance centre in Africa, has become the first in Africa with capability to repair the GEnx engine, which powers the Boeing 787 aircraft.
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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WINDHOEK – Good news for African airlines is that air travel on the continent is expected to continue to grow at about 4.9 percent per year over the next two decades. This increase will, according to Paul Steele, Senior Vice President,
WINDHOEK - Airline industry leaders and government officials met in Zambia last week to discuss responses to an array of pressures threatening the competitiveness and sustainability of carriers in the Southern African Development Community (SADC) region.
WINDHOEK - FNB Namibia’s Executive Committee recently celebrated ten employees who have been loyal to the bank for 25 years or more by giving them long-service awards.
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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.
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.
WINDHOEK - A total of 86 inmates from Walvis Bay Correctional Facility took part in a two-week Money Map training session hosted by Bank Windhoek and Adonai Trust in September.
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.
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.
WINDHOEK – The jitters felt by local businesses and investors prior to the second national land conference that took place in the capital last week seem to have faded resulting in restored and improved business and investor confidence.
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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WINDHOEK - Members of the Executive Leadership Team of Bank Windhoek and its holding company, Capricorn Group, joined the rest of the world in paying homage to customers and frontline staff in support of the International Customer Service Week held annually during the first week of October.
WINDHOEK - This past week organisers of the Intra-African Trade Fair (IATF) finalised the arrangements for the South African Department of Trade and Industries (DTI) exhibition space.
WINDHOEK – The City of Windhoek has given property owners in the area of Khomasdal’s Extension 16 a time frame of two years from the date of sale to improve the property.
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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.
WINDHOEK - There is a need to recognise that markets are developed because of property rights, and without these property rights there can be no actual market. Similarly, no one would be willing to commit investment in an enterprise where property rights are not secured.
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.
WINDHOEK - FirstRand Bank Namibia Holdings Limited and the Namibian Bank Workers Union (NBWU) have confirmed an increase of all employees’ basic salaries in the bargaining unit for the 2018/2019 financial year, at an across the board raise
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.
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.
WINDHOEK - In 2012, four years after graduating with a diploma from the then Polytechnic of Namibia, in Urban Land Use Planning (Land Management), Siseho Sisamu launched head first into his own business.
WINDHOEK –MTC has announced the re-opening of its BPI House-situated Mobile Home, which underwent cosmetic revamps since July 25, 2018.
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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WINDHOEK - Predictable and transparent land reform programs that will lead to equitable ownership, productive and efficient usage of land will undoubtedly create a good basis for the country’s economic growth, industrialisation and job creation.
WINDHOEK - The most recent statistical data from the Bank of Namibia (BoN) for August 2018 that covers, amongst others, the extension of credit to the private sector (PSCE) shows that total credit extended to the private sector rose by 1.5 percent from N$93,409 million in July to N$94,783 million in August 2018.
WINDHOEK – The subdued domestic, regional and global economies are constantly searching for light at the end of what seems to be a never-ending tunnel and the recent decision in South Africa to decriminalise cannabis for private
WINDHOEK - Air Namibia has confirmed that it has increased flight frequencies from five to six on the Windhoek- Gaborone- Durban route, effective September 25, and to seven per week effective October 28.
WINDHOEK - Development Bank of Namibia (DBN) CEO Martin Inkumbi recently donated, on behalf of the Bank, N$150,000 for the construction of a dam for the Tegako 2020 Women in Business Co-operative.
WINDHOEK - Kalla Toivo has been appointed as FNB’s National Sales Manager. Toivo joined FNB Namibia in 2008 as a seasonal worker at Exclusive Banking – responsible for filing.
WINDHOEK – FNB Namibia has unveiled a plan to help municipalities and town councils service land.
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WINDHOEK - Bank Windhoek, in conjunction with the Enertronica Group, recently financed the construction of the Trekkopje Solar Project in the Erongo Region as part of the development of solar parks in the country.
WINDHOEK - Capricorn Group last week reached another milestone with the official launch of Capricorn Capital, a newly-established corporate advisory firm and wholly-owned subsidiary of Capricorn Group.
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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.
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.
“Our whole company is Cloud-based, we don’t actually have an office!” is something you might hear in a meeting, or read about in an article. Everyone is talking about the Cloud, but what is it actually?
WINDHOEK - Bank Windhoek recently announced the appointment of Saara Shivute as its head of specialist finance effective, 15 September 2018 and Brisley Cloete as its Oranjemund branch manager effective today.
WINDHOEK - Capricorn Group has reached another milestone with the official launch of Capricorn Capital, a newly-established corporate advisory firm and wholly-owned subsidiary of Capricorn Group.
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.
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.
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.
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”.
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.
WINDHOEK – Chairman of the TransNamib board of directors Paul Smit yesterday said it is general knowledge that aging infrastructure is TransNamib’s biggest challenge.
WINDHOEK – The Construction Industries Federation of Namibia (CIF) has demanded that government retracts some key tender pre-qualification processes invited recently, as they overlooked local bidders ahead of foreign firms on technical bases.
WINDHOEK - The Economic and Social Justice Trust has written to the Ministry of Environment and Tourism asking it to permanently cancel the environmental clearance certificate of Namibia Marine Phosphate (Pty) Ltd to prevent the company from commencing phosphate mining operations off the Namibian coast.
WINDHOEK - The Bank of Namibia (BoN) will host its 19th annual symposium today at the Safari Hotel and Conference Centre. This year’s Symposium will be held under the theme “Creating Employment Through Technical Vocational Education and Training (TVET) in Namibia.”
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.
WINDHOEK - Southern Business School (SBS) Namibia’s graduation ceremony and study week will take place in Windhoek this week.
Namibia is focused on creating a knowledge-based society where technology, innovation and entrepreneurship at every socio-economic level become the norm. This is a bold and major challenge for us as a nation.
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.
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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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.
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).
WINDHOEK - Namibia Wildlife Resorts (NWR) and Namibia Tourism Board (NTB) have just returned from the South African Airways (SAA) Africa Showcase, which is the largest travel trade event in North America featuring exclusively African
WINDHOEK – The latest trade statistics for the second quarter of this year, which were released by the Namibia Statistics Agency (NSA) on September 13, show that the country’s quarterly trade deficit dropped to its lowest level for the past couple of years, second only to the first quarter of 2016 when a deficit of N$448 million was recorded.
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.
WINDHOEK - The FirstRand Namibia Foundation Trust has reiterated its commitment to the Recycle Namibia Forum (RNF) by renewing membership for the current financial year.
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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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WINDHOEK - Bank Windhoek has confirmed an average of 7 percent in salary increases for the 2018 remuneration period.
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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
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.
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.
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.
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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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.
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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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.
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.
WINDHOEK - The Board of the Development Bank of Namibia has extended the tenure of CEO Martin Inkumbi for another five years. Inkumbi was initially appointed as CEO in 2013 following a period as Acting CEO in the wake of the departure of founding CEO David Nujoma.
WINDHOEK - The Namibia Statistics Agency will be conducting its 2018 Labour Force Survey from the 16th September to 16th October 2018.
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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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.
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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