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...
CAPE TOWN – As part of government’s commitment to gender equality, 40% of public procurement will be set aside for women-owned businesses, President Cyril Ramaphosa announced on Sunday. Paying tribute to South Africa’s women on Women’s Day, he said South Africa as a country had much to be proud of. Gains had been made in...
The first fuel increase for 2020, which came into effect this week Wednesday, was necessitated by an under-recovery of N$2 per litre on petrol and N$1.64 on diesel. This is according to the Ministry of Mines and Energy (MME) which explained in a recent statement that the situation came about due to fuel being bought...
The Development Bank of Namibia (DBN), the Bank of Namibia, as well as Nedbank Namibia all confirmed positive Covid-19 cases this week. As a result, the banks have implemented measures to keep both their staff and clients safe from the pandemic. DBN yesterday confirmed it will alternate staff at its offices to reduce the risk...
Professor Anicia Peters, Pro-Vice Chancellor: Research, Innovation, and Development at the University of Namibia (UNAM), this week said Information Technology (IT) should have been considered an essential service provider in the country. Peters highlighted that the initial lack of recognition of the technology sector as essential service providers at the onset of the lockdown was...
Trade Union Congress of Namibia secretary general Mahongora Kavihuha said if the International Monetary Fund (IMF) approves the N$4.5 billion loan the government applied for, then it will be the end of Namibia’s economic independence. Kavihuha made these remarks on Wednesday during a press conference that took place at the union’s premises in Windhoek, where...