The Namibia Investment Promotion and Development Board (NIPDB), says projects with a combined value of N$28 billion are now classified as capital deployed. This means investors for the projects have started acquiring land and assets to bring these projects to fruition. This exciting news was shared by NIPDB’s communications manager Catherine Shipushu while responding to...
O&L Leisure this week announced the successful conclusion of wage negotiations with a new agreement effective from 1 July 2024 being reached. O&L Leisure is a subsidiary of the Ohlthaver & List (O&L) Group. No details of the new agreement have been revealed yet as the group said it is still in the process of...
Industry pundits believe Namibia is facing a watershed moment in its nascent petroleum sector, prompting calls for the implementation of a structured licence bidding system to increase openness and accountability in the sector. Such an approach is viewed as being critical to the successful management of the country’s natural resources. In a presentation last week...
The Government Institutions Pension Fund (GIPF) has cautioned its members on a recent scam attempt. The fund has warned all its members, annuitants, spousal and children beneficiaries about a recent scam attempt advising GIPF clients to report to the fund’s offices to receive money. “The fund urges its members to be vigilant and protect yourself...
Iuze Mukube Namibia Breweries Limited, one of the major private sector players in the domestic economy, last week unveiled a new wine packaging line, constituting an investment of N$337 million. The new packaging line, a significant milestone for the company, is a strategic move to expand production capacity, and diversify the brand portfolio. At the...
Namibia Dairies has commenced with its first export shipment to Zimbabwe, marking a significant milestone in the company’s history. The export not only represents a significant achievement for Namibia Dairies, but also aligns with its commitment to expanding its market reach, enhancing economic ties as well as caring for the communities it touches within the...
The Namibian Competition Commission (NaCC) has approved the proposed merger between Hong Kong-based Sinomine Rare Metals Resources Co. Limited and Dundee Precious Metals (DPM) Tsumeb Holding (Pty) Limited, with conditions. Sinomine Resource Group recently concluded deals to purchase controlling interests in a copper mine in Zambia, and earlier this year purchased Dundee’s copper smelter in...
Qatar Airways Group has acquired a 25% stake in southern Africa’s independent regional carrier, Airlink. The announcement is a continuation of Qatar Airways’ ambition to further develop operations across the African continent. This deal comes as both airlines seek to expand African services and passenger numbers. The investment in Airlink, which flies to more than...
The skyline in Windhoek’s central business district (CBD) is set for a major makeover, as construction has officially commenced on the Capricorn Group’s new 13-storey landmark building. The groundbreaking ceremony on the corner of Independence Avenue and Kasino Street took place on Tuesday morning in what the group called a “historic milestone” for what will...
Louis Potgieter, a senior financial analyst at the Namibia Financial Institutions Supervisory Authority (Namfisa), has been appointed to the International Association of Insurance Supervisors (IAIS) Accounting and Auditing Working Group (AAWG). The working group is tasked withmonitoring developments in international accounting auditing, financial reporting, valuation standards, and public disclosures made by insurers. By joining this...