Business

Letshego Africa Holdings Limited is accelerating a major restructuring of its African operations through the proposed sale of five East and West African subsidiaries to Dubai-based Axian Digital Venture Holding and Management Limited.  The move is aimed at sharpening Letshego’s strategic focus, strengthening capital efficiency and boosting long-term shareholder returns. The transaction, announced yesterday, could...

The African Tax Administration Forum (ATAF) has published its 2025 Annual Report, detailing its ongoing success in optimising domestic resource mobilisation across Africa.  Over the past year, the organisation reinforced continental tax architecture by deploying technical assistance to 35 countries and training 2 433 tax professionals across 43 nations.  These strategic interventions focus on modernising...

The domestic inflation outlook has taken a sharper turn, with rising fuel prices and transport costs emerging as the biggest threats to household finances and economic stability, prompting analysts to revise forecasts upward despite relatively moderate headline inflation figures. Meanwhile, inflation is increasingly driven by costs that households cannot avoid, such as fuel, transport, housing,...

Namibia’s current account deficit widened to N$10.4 billion (14.5% of GDP) during the final quarter of 2025, according to the Economic Association of Namibia’s (EAN) Q1 2026 Quarterly Review.  The EAN noted that increased service payments and income outflows drove the deficit, overshadowing strong revenues from gold and uranium exports.  Concurrently, the domestic economy shrank...

Vitol, a global energy company, will be the sole supplier of fuel to Namibia for a three-month period from July to September 2026. Addressing the country’s fuel supply situation on Saturday evening in Oshakati, Minister of Industries, Mines and Energy Modestus Amutse explained that the arrangement with Vitol was necessitated as part of an emergency...

Namibia’s strategic fuel infrastructure has reached a historic safety milestone, with the National Oil Storage Facility (NOSF) recording 1 004 consecutive days without a lost time injury (LTI).  This is the longest injury-free period in the facility’s history and a significant achievement for the country’s energy sector. The milestone underscores the growing importance of operational...

Government, through the National Energy Fund (NEF), will absorb an estimated N$47.2 million in fuel costs during June 2026 to prevent an increase in domestic petrol prices.  The absorption is part of ongoing government efforts to shield Namibian consumers and businesses from volatile international energy markets. Minister of Industries, Mines and Energy Modestus Amutse on...

WASHINGTON – The heads of the International Monetary Fund, World Bank and International Energy Agency warned on Friday of the risks to fuel security during peak demand summer months if oil shipping through the Strait of Hormuz does not return to normal. “Global oil inventories are being drawn down at a record pace in response...

BERLIN – The finance ministers of the European Union’s six biggest economies said Friday they had agreed on steps to better integrate financial markets and make investments flow seamlessly across the bloc. In a statement issued after a meeting in Berlin, the finance ministers of Germany, France, Italy, the Netherlands, Poland and Spain – the...