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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I would like to first thank the organisers of this event for their invitation for me to speak at this event this morning, where the topic of discussion is inequality in society. We all know that of late the issue of inequality has become topical globally.
WINDHOEK - The Roads Authority’s (RA) Board of Directors has confirmed the re-appointment of Conrad Mutonga Lutombi as the authority’s chief executive officer for a second term. The re-appointment, which is effective from October 1, 2018, for a 5-year period, was announced in a statement by RA Board Chairperson Brian Katjaerua.
WINDHOEK - FNB Namibia has released the housing index based on figures obtained from June 2018. According to FNB analyst Josephat Nambashu, although house prices increased by 0.8 percent y/y in June, property prices remain under pressure, after a series of annual falls over the last nine months, to bring the average house price to just over N$1.2 million. “The continued drop in the economy and the increased costs of living on the back of fuel increases remain a stark reminder that consumer spending remains under pressure, which is consequently depressing domestic property prices.”
WINDHOEK - The City of Windhoek (CoW) recently announced the implementation of the Sectional Title Act of 2009 that requires owners of sectional titles to submit title deeds and related documents to the city by no later than September 30, 2018. A recent advertisement by the CoW in local newspapers warned that “failure to provide the required information by the due date will result in levying the value of the land portion of the units equally amongst each unit”.
WINDHOEK – At one minute past midnight last night motorists started forking out 40 cents a litre more on all petroleum products, bringing the price of petrol at Walvis Bay to NS12.95 per litre, diesel 500ppm to NS13.28 per litre and diesel 50ppm to NS 13.33 per litre. While the new fuel prices are astronomical for Namibians, these figures are still below but are fast approaching the current average global petrol price of N$14.75 per litre.
WINDHOEK - FNB Namibia held a breakfast celebration at the end August and Women’s Month under the theme ‘Grit and Perseverance.’ Elzita Beukes, Communications Manager at FNB Namibia said the purpose of the event was to celebrate female employees at FNB and to inspire them to be resilient even when times get tough. Speaking at the event, Nangula Kauluma, FNB Executive Officer: Premium Banking highlighted the determination needed to succeed and the three choices one must make – to either remove yourself from the situation, change the situation completely, and/ or accept the situation no matter the consequences that may follow.
WINDHOEK – A Walvis Bay native spent two years in the United Kingdom on a working holiday, John Weber started out cleaning construction sites in the UK but always knew he would come back home. On his return, he held several jobs and eventually walked away from his last position to start his own business.
WINDHOEK - The Bank of Namibia (BoN) recently released selected statistical data for July 2018 that indicates that accumulated private sector credit extension (PSCE) to businesses and individuals now amounts to over N$93 billion.
WINDHOEK – Both internal and external consultations regarding Namibia’s anticipated signature to the Single African Air Transport Market (SAATM), which was launched in Addis Ababa, Ethiopia, at the end of January this year, have now been completed.
WINDHOEK - The Economic Association of Namibia (EAN), in collaboration with the Hans Seidel Foundation and The Namibian newspaper, will be hosting its annual economic conference, under the theme of ‘Inequality’ on September 5, 2018 at the Safari Hotel. The conference will focus on questions surrounding Namibia’s persistent high levels of inequality, as well as look at ways to reduce inequality in a pragmatic manner, through a strong focus on improved opportunity for Namibia’s people.
WINDHOEK –The latest annual report from the Namibia Financial Institutions Supervisory Authority (Namfisa), which was released last Thursday, indicates that the authority’s total income for the 2017/18 financial year was N$149.4 million, which was 35 percent, or N$80.4 million, lower than the budgeted amount of N$229.8 million.
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Business Financial Solutions (BFS) held a Women in Finance breakfast on Wednesday to celebrate trailblazers, high achievers, advocates and role models for women in the financial sector.
Elso Holdings, a 100 percent Namibian-owned manufacturer of biodegradable toxic-free cleaning products, paper and cleaning equipment, says it is investing millions of dollars over the next three to five years in the expansion of its production facilities in Namibia as it aims to serve the Namibian market and eyes both regional and other international destinations.
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Namibia Institute of Public Administration and Management (NIPAM) executive director Maria Nangolo yesterday met with the head of Botswana’s equivalent institution to NIPAM, the Botswana Public Service College (BPSC). The executive director of BPSC, Botshelo Mathuba, is in Windhoek for three days to
The Namibia Chamber of Commerce and Industry (NCCI) in Swakopmund, in partnership with Bank Windhoek,
Fisheries and Marine Resources Minister Bernard Esau yesterday stressed that the deadlines for the application of fishing rights will not be extended.
This year’s winner of the Development Bank of Namibia (DBN)’s Innovation Award will this year win more, the bank announced Tuesday.
The Nedbank Namibia Management Development Programme (MDP) Class of 2018 recently celebrated their graduation. The 13 candidates,
African Deli, a local food processor founded in 2013, has responded to President Hage Geingob’s call to fight poverty by donating
Have you dreamt of putting aside a little extra in a foreign currency for that once-in-a-lifetime holiday abroad? Or just simply being able to save and transact in foreign currency to avoid having all your ‘eggs in one basket’?
Bank Windhoek in collaboration with the Namibia University of Science and Technology (NUST), through the Centre for Enterprise Development (CED) will host local entrepreneurs, Small and Medium Enterprises (SME) for start-up and SME seminars based on Business Models.
The Forensic Department at Bank Windhoek is receiving an increasing number of complaints from clients regarding individuals calling them and pretending to be bank officials.
According to a survey done by the Namibia Statistics Agency barely one in ten people have savings to fall back on when they run out of money.
Namibians love their Wi-Fi, we hold our smartphones in front of us desperately seeking a Wi-Fi router to latch onto in a hotel, airport, shopping centre, restaurant or any venue we may be at.
Capricorn Investment Group Limited (Capricorn Group) on Thursday released its consolidated group financial results for the year ending 30 June 2018.
WINDHOEK – The African Development Bank (AfDB) is considering increasing its direct funding of bankable projects of the continent’s private sector, given the sector’s propensity to drive economic growth, generate decent jobs and create increased opportunities for more inclusive and green growth. This was revealed by African Development Bank Executive Director, Mihe Gaomab II, who noted that private sector development is widely recognised by the international community as an engine of sustainable and inclusive economic growth.
WINDHOEK - While the industrial economy in the past required mostly land, labour and capital, the new emerging economy uses creative industries to produce meanings from the world of ideas. In the past, creativity and industry were not generally linked but nowadays the notion that arts and creativity serve as major economic drivers is fast gaining impetus.
WINDHOEK – Pharmaceutical companies opting to establish themselves in Namibia have been encouraged by Minister of Health and Social Services, Dr Bernard Haufiku, to position themselves in such a way that they can enter the regional market. According to Haufiku, a larger market would make local pharmaceutical companies more sustainable and due to economies of scale a larger operation can offer more affordable prices.
Almost no country is totally self-sufficient and has no need for skill support in specific fields. This is evident in specialised field of expertise such as medicine, marine, mining and also in the aviation industry. The aviation sector facilitates tourism, business, trade and logistics. Namibia’s development goals has logistics as one of the driving forces of Namibia’s Development Plan (NDP5) and therefore its economy, to ensure that Namibia becomes the logistical hub for SADC and Africa.
WINDHOEK - Well-known Namibian advertising agency, Advantage Y&R, has continued its run of success, this time picking up a Loerie Award for a temporary structure called ‘The Shack’, which won in the category for ‘Three Dimensional & Environmental Design – Interior Design & Temporary Structures.’
WINDHOEK - Elso Holdings is offering its customers the option of refilling containers with its cleaning products to curb wastage and save money. Four of Elso’s factory outlets around Namibia offer this convenient and environmentally friendly service to its clientele.
WINDHOEK – Living alone can both be an exciting journey and a challenging one. It gives you a sense of freedom, where you are the sole ruler of your domain, yet it is considered to be more expensive if compared with sharing with someone.
WINDHOEK – The secretary-general of the Trade Union Congress of Namibia (TUCNA), Mahongora Kavihuha, has warned the leadership of FNB Namibia to behave, as they allegedly try to derail negotiations with the union. The Namibia Bank Workers Union (NBWU), an affiliate of TUCNA, is accusing the bank of trying to deny employees their annual increase. They allege that the bank wants to attach the employees’ annual increase to their performance appraisals.
WINDHOEK – The construction of a community centre in Corridor 17 of the Omaheke Region, which was approved by the Namsov Community Trust (NCT) in 2015, has been successfully completed. The centre was constructed in honour of the late Chief Sophia Jacobs for the San community and will serve women in the San community to provide long-term sustainable economic upliftment and empowerment.
WINDHOEK – Nedbank Namibia have confirmed the appointment of JG van Graan to the position of Chief Financial Officer (CFO). The role of the modern-day CFO is evolving, extending outside of the world of finance as the pace of fintech gets faster and more complex.
WINDHOEK - There has been speculations in recent years as to the real reason behind the removal of Libya’s Muammar Gaddafi with one of the most popular theories being that he was in the process of establishing a single gold-backed currency for Africa called the Gold Dinar.
WINDHOEK – Capricorn Private Wealth is a uniquely Namibian financial service offering that amalgamates the very best that Bank Windhoek and Capricorn Asset Management have to offer to create a boutique financial offering that caters to the specific needs of individual clients.
WINDHOEK – A preliminary investigation by the Namibian Competition Commission (NaCC), in terms of section 36 of the Competition Commission Act, has found that various short-term insurance companies have engaged in collusive conduct, specifically price fixing by setting maximum mark-up rates that panel beaters should charge for repairs to insured vehicles. Mark-up rates refer to the margins that panel beaters add on top of the costs of vehicle parts.
WINDHOEK – Transnet Freight Rail (TFR) and TransNamib are working on a renewed and strengthened partnership in order to position the railway as the preferred mode of transport for bulk freight.
WINDHOEK – Women at the helm of entrepreneurship in all sectors are crucial as they contribute to economic growth and aid in creating a diverse innovative workforce. To encourage and celebrate this factor, the 20th Economist Businesswoman North Conference took place in Ongwediva last week.
WINDHOEK – Southern Africa’s youth hold the potential as an engine for growth for the region and are key to achieving the region’s overall objectives, with prospects to bring innovative ideas and solutions.
WINDHOEK - Continuous upward pressure is expected on inflation, mostly owing to the rising fuel prices, the most recent of which was a 25 cents per litre increase in August, attributed to the adjustment of the fuel tax in August. Although international oil prices have eased slightly, the prevailing sentiment is that the depreciation of the Namibia Dollar will increase the cost of oil in domestic currency which could result in further under-recoveries, meaning the actual costs of fuel are still higher than the pump price.
WINDHOEK – The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday confirmed that the repo rate has been left unchanged at 6.75 percent. After a review of global, regional and domestic economic and financial developments, the MPC’s decision was made to continue supporting domestic growth, while maintaining the one-to-one link between the Namibia Dollar and the South African Rand.
WINDHOEK – Marius Sheya, Governor of the Kunene Region, alongside his regional and local authority councilors, recently paid a courtesy call on the MTC management and was received by the Chief Human Capital and Corporate Affairs Officer, Tim Ekandjo.
WINDHOEK - The new Blue Economy concept – which is defined as the use of ocean resources by human beings and at the same time make sure that such resources are not depleted, is increasingly gaining support as the vehicle towards achieving ocean sustainability in Africa.
WINDHOEK – Bank Windhoek extended its footprint in the country even further when it officially opened its 55th branch in Okahao, Omusati Region this week. The newest Bank Windhoek branch was officially opened by the Governor of the Region, Erginus Endjala, in the presence of King Johannes Mupongolitha Mupiya of Ongandjera, Mayor of Okahao, Immanuel Amutenya, councillors of Okahao Town Council, Managing Director of Bank Windhoek, Baronice Hans, and the Bank’s Head of Retail Banking Services, Chris Matthee. Members of the growing Okahao business community and invited guests were also in attendance to witness the opening.
WINDHOEK - Representatives of domestic workers unions from five SADC countries have urged member countries in the region to ratify International Labour Organisation (IOL) Convention 189 on decent work for domestic workers.
WINDHOEK - The latest assessment of the Namibian economy by international ratings agency, Fitch Ratings, on Monday affirmed a sub-investment grade rating of BB+ with a stable outlook. Local economists believe that this assessment is a confirmation for continued fiscal consolidation efforts, which have thus far been slow as government struggles to balance consolidation with adequate economic growth, poverty alleviation and a necessary reduction in income inequality.
WINDHOEK - Charcoal production is an important activity for managing bush encroachment in Namibia. With an estimated 160 000 tonnes of export volume in 2016, Namibia is currently ranked as the fifth largest exporter of wood charcoal in the world, which also makes it the largest exporter of charcoal in the Southern African region.
WINDHOEK - The latest results from the Namibia Financial Inclusion Survey (NFIS) indicate that the country’s banking population increased to 67.9 percent in 2017, up from 45 percent in 2011. In addition, the majority of the eligible banking population, 64.7 percent, said they consider Automated Teller Machines the most comfortable banking channel followed by bank branches at just over 58 percent.
WINDHOEK - Member States of the Southern African Development Community (SADC) actually produce more electricity than they require at peak demand but because not all member states are connected to the regional electricity grid, this excess energy cannot be shared with member states that do not generate sufficient amounts of energy for their respective populations. When considering SADC’s current peak demand and generation capacity reserve margins, the region is estimated to generate excess capacity of 2 616 MW. In fact, the installed capacity in the region is more than 40 percent of the total installed generation capacity in Africa.
WINDHOEK - Ethiopian Airlines, Africa’s largest and fastest growing airline group, has registered record success in the just ended 2017/18 fiscal year. In line with its 15-year strategic roadmap, Vision 2025, the airline registered historical success in financial, commercial, operational and customer service areas.
The Namibia Statistics Agency (NSA), together with the Bank of Namibia and FinMart, is launching the Namibia Financial Inclusion Survey today at the Namibia Institute for Public Administration and Management (NIPAM). This is a survey of how individuals generate their income and how they manage their financial lives. It also includes individuals’ engagement with the financial services sector as a whole. The financial sector in this sense includes both formal and informal products and services. The Financial Inclusion Survey also provides insight into attitudes and perceptions regarding money management, financial products and services, as well as information regarding demographics and overall lifestyles.
WINDHOEK - Standard Bank has relaunched its Prestige Account, which is uniquely tailored to meet the banking and lifestyle needs of young professionals. For only N$199 per month, Prestige clients receive a wide range of services, offered in a reliable, time efficient and convenient fashion, allowing them to bank anytime, anywhere, with no long waiting periods or long queues to delay them.
WINDHOEK - An overarching theme at yesterday’s Southern African Development Community (SADC) Secretariat briefing on infrastructure and services, which included an overview of regional renewable energy ventures, was the stagnation of crucial projects in the region, most of which require additional and alternative sources of funding.
WINDHOEK - The Olafika SME Development Mentorship Programme is a promising program that seeks to take Namibia entrepreneurs from across the country’s 14 regions on a journey from rough to polished gems. This is the analogy of the Namibia Diamond Trading Company (NDTC), as a local company with a global reach, that...
WINDHOEK - Namibia’s only tower infrastructure provider, PowerCom, has provided further sponsorship for the ICT Summit in Namibia with a financial contribution of N$50 000 for a two-year period, which has increased their total contribution since 2016 to N$150 000. PowerCom joins other corporates in partnering with the Ministry of Information and Communication Technology in sponsoring the event which is scheduled for October.
WINDHOEK– Bank Windhoek has confirmed the appointment of Shali Shindume as its Head of Public Sector Banking at its Corporate and Institutional Banking Division, as of the beginning of August. Shindume brings a wealth of experience spanning 15 years in the banking sphere.
WINDHOEK– Despite Namibia being in the process of becoming more self-sufficient in terms of electricity production, the country is still overly reliant on sourcing power from neighbouring countries as it still imports approximately 60 percent of its electricity requirements. Due to this factor, the country has to identify new means to generate more electricity locally and to make it more accessible in the country where electricity-wise less than 50 percent of the population is connected. This is according to Minister of Mines and Energy, Tom Alweendo, who shared these sentiments while addressing the 2018 Electricity Supply Industry Forum, which took place in Walvis Bay yesterday, under the theme ‘Building a Sustainable Future’.
WINDHOEK - When one thinks about the tourism industry, what usually comes to mind are the tourism facilities along with transportation service providers. These players have a significant role to play to ensure tourists are accommodated and transported.
WINDHOEK-MNCapital Group, an international investment advisory and institutional business development firm, in association with Africonomie UK, a UK-based investment advisory and communication firm, have confirmed that various pension funds and several international and local leading institutions will gather in Windhoek on August 22 and 23 to discuss Namibia’s economic growth through pension fund investments. African pension funds are estimated to be holding US$334 billion in assets and 90 percent of these assets are held in only four countries of which Namibia is one.
WINDHOEK – Imagine receiving an eWallet of N$500 from a friend and instead of taking a taxi to the nearest FNB ATM machine, you simply use the Bank Windhoek ATM not far from where you are standing waiting for a taxi when that SMS notification beeped on your cellphone. Just close your eyes for a moment, and visualise if you will, the flood of relief and joy of convenience that would jolt through you were that a real option.
WINDHOEK - South Africa has been overtaken by the world’s second largest economy, China, as Namibia’s single biggest export market. This is according to the Namiåbia Statistics Agency (NSA) trade statistics for the first quarter of 2018 which indicated that Namibian exports to China grew by an astounding 779 percent compared to the previous quarter, while exports to neighbouring South Africa only increased by a meagre 2 percent.
WINDHOEK -Green Enterprise Solutions (Green) has signed on as a Platinum Sponsor for the 5th National ICT Summit scheduled to take place from October 15 to 17, 2018, in Windhoek.
WINDHOEK - In the small fraternity of economic analysts, Claudia Boamah is making waves in this traditionally male-dominated profession, with her economic forecasts and proposals on economic policy attracting attention from the highest echelons. During a recent investment summit in the capital, Boamah suggested that if Namibians are indeed forward thinkers, then we need to know what the potential of any economic sector is and conduct the necessary research to establish a lifespan of that industry. With this proposal, Boamah suggested that the country adopt a forward-thinking mentality, not just in terms of goals but also in terms of preparations that need to be completed in the processes of achieving long-term objectives.
WINDHOEK - Bank Windhoek has confirmed the appointment of Gavin Frey as its Head of Investment Banking within the Corporate and Institutional Banking Division effective Wednesday, August 1, 2018.
Madam Monica Geingos, First Lady of the Republic of Namibia (FLON) shared some words of wisdom on how entrepreneurs should thrive in this cut throat industry.
WINDHOEK – Junior Baiano Industrial Consultants, a company which started operating in 2011, is making major waves in the construction, mining and logistics industries. Recently, the 100 percent Namibian company has diversified its interests even more with the launching of a brand-new clothing line.
WINDHOEK – The angling industry at the coast continues to gain popularity as more individuals fish for sporting purposes. With her experience, Jana Kruger, grasped the opportunity to cater to the needs of customers within the industry and is focused on making it a success despite the challenging economic times.
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