TransNamib CEO Desmond van Jaarsveld has highlighted critical challenges facing Namibia’s rail transport sector. He specifically pointed out inefficiencies that have forced fuel and mining operators to rely predominantly on road transport. In a recent presentation, he noted that rail accounts for only 12% of fuel transport in Namibia, a figure he deems “way too...
Newly elected chairman of the Federation of Namibian Tourism Associations (Fenata), Ally Karaerua, has emphasised that the organisation represents the diverse travel and tourism industry, as a voluntary entity for Namibian tourism associations. These associations, representing specialised fields, include travel agencies, car rentals, tour operations, emerging tourism, tour guides as well as hunting and accommodation. ...
As the single-biggest investor in Namibia’s economy across a multitude of sectors and the country’s 14 regions, the Government Institutions Pension Fund (GIPF) contributes significantly to socio-economic development through the injection of capital into an economy that has historically struggled to attract meaningful foreign direct investment outside of the mining sector. At the heart of...
Momentum Metropolitan Foundation recently sponsored the African Union’s (AU) Chelete Cage pitch event in Windhoek as part of the AU Micro, Small and Medium Enterprises (MSME) forum. With a contribution of N$300000, the foundation supported the initiative to empower African entrepreneurs through financial and non-financial backing. The forum brought together over 200 entrepreneurs, investors and...
The domestic road sector continues to grapple with a significant funding crisis, which authorities have cautioned is insufficient to cover the costs of maintaining the nation’s road network. The lack of capital has been highlighted by an average deficit of 25.7% in Road User Charges (RUC) revenue from 2016 to 2024. Moreover, RUC projections indicate...
BRUSSELS – The EU yesterday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy products, in an escalating trade row between Beijing and Brussels. Beijing announced its probe in August after the European Union unveiled a plan to hit Chinese electric vehicles with hefty tariffs. “Today, the (European) Commission launched...
The slight interest rate relief from the 25-basis points repo rate cut by the central bank in mid-August might lead to an increase in the number of building plans submitted and completed, as individuals and developers take advantage of the moreaffordable credit environment. This is according to stock brokerage Simonis Storm (SS)in its take on...
For the end of the financial year ended 30 June 2024, Oryx Properties reported a total comprehensive profit of N$384.8 million, which is a significant increase from N$190.9 million in 2023. Oryx’s total portfolio value increased by N$1.072 billion or 35% to N$ 4.167 billion – up from N$3.095 billion in 2023. These figures financially...
Agriculture plays a pivotal role in Namibia’s economy, supporting livelihoods and contributing to food security. However, the current budget allocation does not reflect its importance. This is according to agriculture minister Calle Schlettwein, who recently warned that the current budget allocation for agriculture is inadequate. “At 2.3% of total non-interest expenditure, and about 0.7% of...
Hangana Seafood has concluded wage negotiations with its Workers’ Council. This marks the first time these negotiations have been conducted with representation from a Workers’ Council, a significant shift from previous years when a union led the negotiations. Both the company and the Workers’ Council acknowledge that the process has been a valuable learning experience...