In a concerning financial update, the Mariental Municipality has reported a significant increase in its deficit for 2023. This raises alarms among local stakeholders and residents. The municipality’s deficit has surged to N$29.79 million, a dramatic rise from N$11.27 million recorded in 2022.This represents an increase of approximately N$18.5 million, highlighting a growing fiscal challenge....
Namibia is facing a steep rise in electricity expenditures. Total spending on purchased power has increased by 25% from approximately N$70.86 billion (US$4 billion) in 2019 to N$86.85 billion (US$5 billion) in 2023. This surge is largely attributed to the rising costs of electricity imports, which have more than doubled since 2019. The increase has grown...
Eben Basson We are living in a world of rapid change. Artificial Intelligence (AI) is continuously changing how we do our jobs, and Namibians need to upskill and to adapt to the changes stemming from this transformation. AI is no longer something of the future; it’s very real and very present in today’s work environments,...
Ethiopian Airlines, the largest airline in Africa, proudly announced the arrival of the continent’s first Airbus A350-1000. This significant milestone was celebrated in a grand ceremony that was attended by government officials, ambassadors, diplomats and esteemed representatives from Airbus and Thales. The aircraft landed at Addis Ababa Bole International Airport, basking in a warm welcome,...
Titus Ndove, the executive director in the finance ministry, recently highlighted the critical need for Africa to enhance its trade dynamics, particularly through the African Continental Free Trade Area (AfCFTA). He was speaking during the opening of the 24th annual Trade Finance and Factoring Seminar in Windhoek on Tuesday. It is the first time that...
OTTAWA – Canada proposed on Monday establishing what it said would be one of the world’s first greenhouse gas emissions’ cap-and-trade system for the oil and gas sector, aimed at slashing pollution. The goal of the system, which would be phased over several years, would be to reduce emissions to 27% below 2026 levels, or...
Letshego Namibia has announced the appointment of Mbo Mena Luvindao as its chief commercial officer (CCO), effective 1 November 2024. Luvindao brings a wealth of expertise and a dynamic vision to the CCO’s role. His mandate is to drive Letshego’s commercial strategy, enhancing growth, profitability and deeper customer engagement across Namibia. With an impressive 18...
The National Petroleum Corporation of Namibia (Namcor) has addressed recent concerns and statements regarding its attendance at a community event affiliated with a political party. As a State-owned enterprise, Namcor’s mission is to serve the Namibian people by responsibly managing and promoting the development of the country’s oil and gas resources. “Our commitment to impartiality...
Namib Desert Diamonds (Namdia) has embarked on a new client registration campaign, running from 4 November 2024 to 31 January 2025. This initiative aligns with Namdia’s mandate of price discovery, and its goals of expanding its global reach. “Through the campaign, clients will gain privileged access to Namibian rough diamonds, with a sourcing experience that...
The Namibia Financial Institutions Supervisory Authority (Namfisa) the domestic retirement fund industry had more than N$218 million unclaimed pension benefits by pensioners and their beneficiaries in 2023. Although still a concerningly high number, this is a notable improvement from just more than N$229 million unclaimed in 2022. It is in the interest of any pension...