The Development Bank of Namibia (DBN) has reported a strong financial performance for the 2024/25 financial year, posting a 42% increase in operating profit to N$88.3 million, while securing significant new international funding lines and advancing its long-term strategic transformation. In DBN’s newly released 2024/25 Integrated Annual Report (IAR), the financial results mark the first...
Former chief executive officer (CEO) of the Namibia Investment Promotion and Development Board (NIPDB), Nangula Uaandja, has been appointed as the new executive director of Emeraldsand Platforms, effective 1 July 2026. Uaandja takes over the position from Albe Botha. Emeralds and Platforms is a diversified investment group with interests in media, financial services, logistics and...
DAVOS – EU chief Ursula von der Leyen said yesterday the bloc plans “massive” investments in Greenland, as it seeks to counter US president Donald Trump’s threats to take the autonomous Danish territory in the name of securing the Arctic. “We are working on a massive European investment surge in Greenland,” von der Leyen told...
MADRID – Global tourism hit a new record level in 2025 with 1.52 billion international tourist arrivals recorded worldwide, driven by strong increases in Asia and Africa, UN Tourism said on Tuesday. “Demand for travel remained high throughout 2025, despite high inflation in tourism services and uncertainty from geopolitical tensions,” the secretary general of the...
LONDON – European stock markets slid further yesterday, while precious metals hit fresh peaks on fears of a US-EU trade war fuelled by Donald Trump’s tariff threat over opposition to his grab for Greenland. Asia’s main equity indices closed mixed, while US equity futures were sharply down, suggesting sizeable losses on Wall Street when it...
With youth unemployment still high in Namibia, many young people are turning to small businesses to survive. Lydia Nakale runs a small thrift clothing business at Stop n Shop in Okuryangava, Windhoek. Nakale started her business three years ago after struggling to find employment. She is a graduate of the Namibian Institute of Mining and...
Martha Pax is a small business owner in Windhoek who sells plastic bowls and big basins. She moves around different areas, including Havana Four Way and Stop n Shop, to find customers. Pax started her business some years ago. Her first business was selling cooked chicken. After that, she opened a small Kapana where she...
Namibia and Russia are moving to shift their long-standing political relationship into a more structured economic partnership following a visit by Namibia’s Minister of International Relations and Cooperation, Selma Ashipala-Musavyi, to Moscow from January 12 to 14. Russia–Namibia trade remains modest but is growing. Bilateral trade turnover nearly doubled in 2024 to about US$11.7 million...
The Namibian Food and Allied Workers Union (Nafau) has called for a sectoral minimum wage in the fishing industry, saying workers are earning low wages while companies make huge profits. Nafau held a meeting on Sunday in Lüderitz with fishing workers from different companies to discuss the proposed minimum wage for the sector. The union...
LONDON − Gold and silver prices hit record highs, and stock markets slid yesterday as investors sought safety after US president Donald Trump threatened fresh tariffs over opposition to his Greenland ambitions. European countries, including Denmark, of which Greenland is an autonomous territory, said they “stand united” against Trump’s vow on Saturday to impose tariffs...