The Bank of Namibia has been named the winner of the Pioneer Award at the 2024 Central Banking FinTech & RegTech Global Awards, held in Mexico City on 13 November 2024. This prestigious accolade recognises central banks, regulators or supervisors that made outstanding contributions in leveraging cutting-edge technology for the public good. The award was...
Heather Erdmann The groundbreaking ceremony for Nampower’s 40 megawatts’ biomass power plant took place on Thursday. The development is Namibia’s first biomass power-generation station. It is being constructed near the Otjikoto substation outside Tsumeb. The commercial operation date of the power station is set for the first quarter of 2027. Nampower approved a total project...
Namibia is taking significant steps to enhance its mineral beneficiation strategy. The aim is to create much-needed local jobs, and increase the value derived from rich natural resources. However, for the country to successfully implement this strategy and effectively process the minerals it mines, substantial investments in infrastructure are essential. This means Namibia requires improvements...
BAKU – “You owe us!” screamed a protest banner at the COP29 summit in Azerbaijan, where negotiations over how much rich nations most responsible for climate change should pay poorer ones are getting heated. Striking a deal to provide the US$1 trillion annually that experts say is needed by 2030 for developing countries is the...
As part of its ambition to aim for near-zero methane emissions by 2030, TotalEnergies will be going a step further in the monitoring and reduction of its methane emissions with the deployment of continuous, real-time detection equipment at all of its operated upstream sites. Since 2022, TotalEnergies has been pursuing its ambition to aim for...
Kelp Blue, a groundbreaking sustainable aquaculture enterprise, is on the verge of significantly contributing to the domestic economy with a bold investment plan, which could reach N$3 billion over the next three to four years. This investment follows an initial capital injection of N$350 million, and ongoing annual operational costs ranging from N$80 million to...
In a bid to raise liquidity, Trustco Group Holdings Limited this week submitted an application to list its ordinary shares on the Nasdaq Stock Market under the ticker “TRCO.” Trustco submitted the application regarding its proposed direct listing of ordinary shares on Nasdaq, in addition to its current listings on the Namibian Stock Exchange (NSX)...
Despite the Namibia Revenue Agency’s (NamRA’s) efforts to clear a longstanding tax refund backlog, more than N$60 million in refunds for over 31000 individuals are currently on hold. This, the revenue agency stated, is due to incomplete tax returns and banking details. Meanwhile, NamRA’s continuous efforts to improve service delivery and clear the refund backlogs...
Member states of the governing body of the Preparatory Commission for the Comprehensive Nuclear-Test-Ban Treaty Organisation (CTBTO) have reappointed Robert Floyd as executive secretary. The appointment affirms his leadership for a second term. This extension will see Floyd continue in his role through 2029. “I am truly honoured, and I look forward to continuing our...
The Development Bank of Namibia (DBN) has entered into a groundbreaking partnership with Identity Today, a leading RegTech company specialising in digital onboarding and automated compliance solutions. This collaboration marks a major milestone in DBN’s digital transformation journey, designed to enhance customer experience, streamline compliance, and ensure data security. This partnership is expected to facilitate...