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,...
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...