LONDON – Bitcoin soared to a new record high on Sunday, as traders bet that DonaldTrump’s return to the White House will be good for the cryptocurrency. The digital currency passed US$80 000 for the first time in its history shortly after 12h00. It has been rising since Republican candidate Trump won last Tuesday’s US...
The National Petroleum Corporation of Namibia (Namcor), in collaboration with its joint venture partners in Petroleum Exploration Licence (PEL) areas 56, 83, 85 and 90, are set to commence drilling between the last quarter of 2024, and the first quarter of 2025. The drilling will entail four exploration and appraisal wells in the Orange Basin...
Cross-border payments are a lifeline for many people and businesses in Africa. These customers rely on fast, secure and cost-effective payment offerings to manage the daily transfer of funds to friends, associates and family members in other countries. To meet evolving customer needs, First National Bank (FNB) has partnered with BankservAfrica for its Transactions Cleared...
Recently, the Bank of Namibia, as the country’s central bank responsible for safeguarding the stability and integrity of the financial system, has been at the forefront of identifying a troubling surge in fraudulent investment schemes. These schemes, which falsely promise financial support for Namibia’s development initiatives, have been targeting high-ranking government officials, ministries, traditional leaders,...
The Namibia Water Corporation (NamWater) on Friday reached a significant milestone in national water infrastructure with the signing of contracts for the construction of the Ogongo-Oshakati Pipeline Replacement and Ancillary Works. The ceremony, held at NamWater’s head office in Windhoek, underscored NamWater’s commitment to securing reliable water supply for northern Namibia to support future growth...
The Electricity Control Board (ECB) of Namibia cannot currently take any action against local authorities who block pre-paid electricity meters for arrears of non-electrical services. Although this practice is against the law, it is being challenged in court by local authorities drowning in debt, and the practice continues unabated. It is estimated that NamPower, the...
The recent Namibia-EU Trade and Sustainability Conference highlighted significant opportunities for Namibia arising from European Union (EU) climate policies, particularly the Carbon Border Adjustment Mechanism (CBAM). This mechanism, which aims to level the playing field between EU producers and foreign exporters, presents a unique chance for Namibia to enhance its export capabilities in a carbon-constrained...
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,...