The Financial System Stability Committee (FSSC) has recommitted to maintaining a high level of vigilance and to carefully monitor risks as well as steer the course to address any emerging risks in the domestic financial system. The FSSC, which was established by and operates within the ambit of the Bank of Namibia, recently concluded that...
The Capricorn Foundation reaffirmed its commitment to job creation and economic advancement by extending its partnership with the Women at Work Training Centre. The Foundation donated N$350 000 to the Centre, which will be used to train young women and men in basic hospitality skills courses. The Women at Work Training Centre offers practical skills...
In what is described as a groundbreaking move to upskill and empower Namibia’s creative professionals, Ogilvy Namibia recently launched its Ogilvy Academy in partnership with the Red & Yellow Creative School of Business at an event at the Multichoice Auditorium. With over 30 years of experience in the marketing, advertising and communications, Ogilvy Namibia said...
Namibia is facing severe challenges in its foreign direct investment (FDI) landscape,as recent reports indicate a notable decline in net FDI inflows during the second quarter of 2024. This downturn, amounting to a decrease of N$7.2 billion year-on-year and N$3.9 billion quarter-on-quarter, has brought net inflows down to N$8.5 billion. FDI refers to an ownership...
LONDON – World oil prices rallied more than 2% yesterday as tensions escalated in the crude-rich Middle East one year after the deadly Hamas attacks on Israel. European stock markets mostly rose after more big gains in Asia as China’s stimulus boost, a strengthening US economy and the outlook for interest rates in major economies...
WASHINGTON – US Trade Representative Katherine Tai defended stiff tariff hikes against countries like China, arguing that paired with investment, they were a “legitimate and constructive” tool for re-invigorating domestic industries. Tai’s comments to AFP come a week after sharp tariff increases on Chinese electric vehicles, EV batteries and solar cells took effect – with...
MTC Maris is a mobile phone-based money transfer and payments service. The service was launched last week by Windhoek General Administrator (WGA), the financial technology arm of MTC that operates independently from its parent company. The new service allows users to deposit, withdraw, transfer money and pay for goods with a mobile device. Maris, meaning...
The domestic retirement funds industry is faced with a significant liquidity challenge. This is as recent data reveals a troubling decline in the industry’s ability to meet short-term financial obligations. The industry’s liquidity ratio, which measures the adequacy of contributions to cover expenses and benefits, has dropped from 77% to 67.3% over the past year. The latest figures were...
Strategic direction… Toini Muteka has been appointed as the executive officer for human capital for Bank Windhoek. Her appointment is effective from 1 October 2024. She will be responsible for developing and executing the bank’s resource strategy in support of the overall business plan and strategic direction. She will focus specifically on succession planning, talent...
Sinomine Resource Group has appointed Logan Lou Yonggang as chief executive officer (CEO) of Sinomine Tsumeb Smelter. Zebra Kasete, former managing director, will transition into a new role as executive vice president of business development of Sinomine Tsumeb Smelter. He will be accountable for client acquisition, developing strategic partnerships and overseeing stakeholder relations. He...