BW Kudu, in collaboration with the National Petroleum Corporation of Namibia (Namcor), has expanded the scholarship programme supporting underprivileged school students under the care of the Physically Active Youth (PAY). PAY is a renowned non-profit organisation, dedicated to supporting disadvantaged children in Katutura. This initiative continues a successful collaboration that began in 2023, aimed at...
The Namibia Revenue Agency (NamRA) this week launched a Whistleblower Hotline in partnership with Deloitte Namibia, a private company that provides accounting, auditing, taxation and consultancy services. The hotline is designed to provide a secure and confidential platform for reporting a range of concerns. The initiative, which follows approval by the NamRa board of directors,...
Agriculture minister Calle Schlettwein yesterday took issue with the performance of struggling line state-owned enterprises (SOEs), arguing that their inefficiencies are placing an undue burden on farmers. He emphasised that these SOEs, which are intended to support agricultural productivity, are instead hindering growth and profitability for farmers. The minister noted that these industrialisation and marketing...
WASHINGTON – Tupperware Brands and some of its subsidiaries have filed for Chapter 11 bankruptcy protection and are seeking a buyer, the food container firm said, after years of dwindling sales. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” president and CEO Laurie Ann Goldman...
Puma Energy Namibia is grappling with a significant decline in reliance on rail transportation. This situation has deteriorated dramatically over the past two decades. Adell Samuelson, general manager of Puma Energy Namibia, during a media briefing this week, expressed concerns about the current state of rail services. She noted that the company now relies on...
WASHINGTON – The United States on Monday announced fresh sanctions against five individuals and a company associated with the Intellexa Consortium for their role in developing and distributing spyware “that presents a significant threat” to US national security. The move comes months after the US government sanctioned Intellexa’s founder and other parties for their role...
Pension funds require the responsible management and safeguarding of members’ retirement savings to provide peace of mind. This is achieved through robust and transparent communication to create awareness and provide knowledge on the importance of saving for retirement. Pension savings can provide a certain degree of financial security, independence and stability upon retirement, disability, ill-health...
The new tax relief measures, through which domestic thresholds have been adjusted that will result in many Namibians qualifying for refunds, were gazetted on Monday this week. This means the implementation of the new tax regime, which is estimated to directly inject more than N$640 million into the pockets of Namibians, is immediate and the...
Industrialisation and trade minister Lucia Iipumbu has reaffirmed that Namibia is ready to tap into the massive single market of about 1.3 billion people in Africa. She added that this “readiness” can be improved through the Growth at Home strategy by industrialising the local economy to produce goods and services for export markets. Namibia’s readiness...
LONDON – US and European stock markets wavered on Monday as investors cautiously awaited the US Federal Reserve’s first interest-rate cut since 2020. In New York, the Dow was up but the wider S&P 500 and the tech-heavy Nasdaq were lower shortly after opening. In Europe, London was marginally higher but all the main continental...