NEW YORK – Finance ministers of the G7 nations vowed Saturday to step up efforts to prevent Russia from evading sanctions imposed after its conflict with Ukraine. “We remain committed to taking further initiatives in response to oil price cap violations,” the group said in a statement following a meeting in Washington. Those further steps...
The Government Institutions Pension Fund (GIPF) holds a substantial portfolio of listed investments in key local entities, valued at approximately N$6.9 billion. These strategic holdings span multiple sectors, including finance, renewable energy, real estate, telecommunications and consumer goods. Notable investments include a 29% stake in Mobile Telecommunications Limited (MTC), which serves 97% of Namibia’s population;...
The Ministry of Mines and Energy (MME) is conducting a comprehensive National Energy Survey and Affordability Study in collaboration with the World Bank, which started on 7 October and is expected to end on 11 November 2024. The study, which is being carried out countrywide, aims to assess socio-economic conditions, identify development needs and provide...
Hilma Hashange OMUTHIYA – In a bid to promote Omuthiya and boost its economic activities, the Omuthiya Town Council will host the second Omuthiya Business Expo at the New Open Market Centre from 28 October to 3November 2024. The expo is expected to provide a platform for local businesses as well as small and medium...
The Namibia Financial Institutions Supervisory Authority (Namfisa) recently hosted a pension funds, industry engagement, bringing together key stakeholders in the financial sector to explore the role of unlisted investments in bridging funding gaps and fostering economic growth in Namibia. The event, themed “Unlisted Investments as a Solution for Bridging Funding Gaps in the Economy,”...
The country’s ongoing need to address the shortage of Work- Integrated Learning (WIL) opportunities for students has resulted in the Social Security Commission (SSC) commiting N$200 000 to the Namibia National Internship Programme (NNIP). This is to increase the programme’s intake capacity, which currently only stands at 300 trainees per annum. SSC is the sixth...
Grove Mall marked a significant moment in its history this week with the celebration of its 10th anniversary. The event, which included issuing vouchers worth N$10 000 to shoppers, was held at the Slowtown Atrium within the mall. In his opening remarks, JP Duncan, asset manager at Atterbury, a property development firm, expressed gratitude...
Executive Chairman of the O&L Group, Sven Thieme, this week took part in a groundbreaking moment for Germany’s energy transition with the launch of the Philippsee project. The floating photovoltaic (PV) system was launched on Monday as an example of harnessing unused water bodies for the generation of clean energy, contributing to renewable energy objectives. ...
FlySafair, South Africa’s leading low-cost airline, landed at Hosea Kutako International Airport for the first time this week, connecting Cape Town to Windhoek. The maiden landing marked the start of the regional route for FlySafair from Cape Town, making cross-border travel between the two cities more accessible and affordable for customers. “We are extremely excited...
Africa has the highest average into-wing fuel price globally. This fact alone is stifling Africa’s aviation sector simply because jet fuel typically constitutes the largest operational cost for an airline, currently at around 30% of total industry budgets. There is no doubt that regions or airlines with higher fuel prices are disadvantaged in terms of...