There is no doubt that the economic impact of Covid-19 has negatively affected the Social Security Commission’s (SSC’s) funds due to a significant decrease in contributions brought about by increased unemployment and unprecedented business closures. This was according to Minister of Labour, Industrial Relations and Employment Creation, Utoni Nujoma, who spoke yesterday at the SSC...
Insurance giant Sanlam on Friday announced they are now able to pay funeral and savings claims within only seven working hours. This the company says has been a long-term goal lined with one of the company’s strategic objective of putting their clients first. Speaking through a press statement this morning, Sanlam General Manager for Brand...
When is the best time to purchase a home? Early in our career or when your finances stabilise? What are the benefits of being a homeowner? This article explores these questions and more. Buying versus renting: Buying a house allows you to control the asset as there are no annual rental increases. When you buy...
The Eros Airport Runway Holding Action, remedial works project kicked off this week and will last for about three months to improve the runway, which has outlived its lifespan. Otesa/Roadmark was appointed for the remedial works at a cost of N$23 million. The remedial work is intended as a short-term solution, which will carry the...
Ninety One, formerly Investec Asset Management, has confirmed the appointment of Eino Emvula as managing director for Namibia and the rest of Africa, outside South Africa. Emvula will join Ninety One from Namibia Asset Management (NAM), where he was CEO and now replaces former Investec Asset Management CEO, James Hatuikulipi, who has been implicated in...
One of Namibia’s development objectives is to reduce the costs of cross-border trade and to create a more conducive investment environment. However, international competitiveness rankings suggest the country still has some way to go in this respect. Namibia ranks 138 out of 190 countries in the Doing Business (DB) 2020 report, which is the third...
Last week Thursday, Capricorn Group has informed its shareholders through a voluntary announcement on the Namibian Stock Exchange that its Zambian subsidiary, Cavmont Capital Holdings Zambia PLC (CCHZ), has signed a Share Purchase Agreement with Access Bank (Zambia) Limited, a subsidiary of Access Bank Plc. The agreement is for the proposed merger of Access Bank...
The lockdown in April saw a significant drop in business registrations at the Business and Intellectual Property Authority (BIPA). Whereas BIPA normally registers more than a thousand businesses a month, the months of April and May 2020, saw only 133 and 261 registrations, respectively. However, the picture turned rosier in June 2020, when 1 064...
The European Investment Bank (EIB) and African Export-Import Bank (Afreximbank) have directed €300 million to support the resilience and recovery of African nations in response to the Covid-19 pandemic. “The funds will ensure that businesses across the continent have the working capital to sustain jobs and maintain vital imports and it also earmarks at least...
JOHANNESBURG – The world›s third-largest gold mining company by output, AngloGold Ashanti, said on Friday it had withstood disruptions related to Covid-19 to deliver a solid first half production performance and a surge in free cash flow generation to US$177 million. It said the bulk of the inflow for the first six months of the...