The chief executive officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Simataa Matomola, has been appointed as a member of the executive committee (Exco) of the International Association of Insurance Supervisors (IAIS) during the annual general meeting held on 5 December in Cape Town, South Africa. IAIS is a global standard setting body...
The domestic economy maintained a positive growth trajectory during the third quarter of 2024 albeit at a slower pace when compared to the same time last year. According to the central bank, Namibia’s economy registered a growth rate of 2.8% during the third quarter of 2024, which is lower than the 3.1% growth recorded in...
Bank Windhoek was recently recognised as the Best Foreign Exchange (FX) Bank in Namibia by London-based Global Finance, a leading international financial portal and print magazine. Global Finance covers various areas such as banking, trading, technology, tax and legal, and asset and wealth management. The bank also scooped the Small and Medium Enterprises’ (SME) Bank...
Namibia has become a hotspot for oil and gas activities. A ‘boom’ seems just a matter of time, with major companies like Chevron and Halliburton recently opening offices in the country. The oil and gas sector is putting down roots, which is excellent news for Namibian companies and Namibians. It will create employment and business...
The Development Bank of Namibia (DBN) has announced the appointment of its chief executive officer John Steytler to the board of trustees of the Southern African Development Community’s Development Finance Resource Centre (SADC-DFRC). The appointment was confirmed at the SADC DFI Network meeting held on 29 November 2024 in Mbombela, South Africa. The SADC-DFRC is...
The Namibia Employers Federation (NEF) has been actively advocating the deferment of the National Minimum Wage (NMW) implementation, which is currently set for 1 January 2025. Despite extensive engagement with unions and government stakeholders, no agreement to postpone the date has been reached. Many union offices have already closed for the holiday season, leaving consultations...
BEIJING – Beijing yesterday accused the EU of “smearing” Chinese firms after the bloc sanctioned companies from China for supplying Russia’s military in the war on Ukraine. China will “take the necessary measures to resolutely protect the proper and legitimate rights and interests of Chinese enterprises”, foreign ministry spokesman Lin Jian said. The European Union...
NEW YORK – One after another, United States of America tech giants have bowed to president-elect Donald Trump, with Meta, Amazon and OpenAI each pledging US$1 million to his inauguration fund. On 20 January, Trump will kick off his second term, with the promise to drain the bloated federal government. OpenAI recently confirmed that CEO...
The United States of America’s International Development Finance Corporation (DFC), Finnish Fund for Industrial Cooperation Ltd (Finnfund) and Google LLC on Monday announced an initial equity investment of US$90 million into Cassava Technologies Limited. Cassava is a market-leading and diversified information and communications technology (ICT) platform in Africa. Operating in over 30 countries, Cassava provides...
QATARENERGY, one of the biggest oil and gas companies in the world, is deepening its interest in the Orange basin by expanding its footprint in what industry experts consider one of the world’s newest and hottest oil and gas hunting grounds. This is as QatarEnergy, formerly known as Qatar Petroleum, this week announced it had...