The voluntary retrenchment exercise at the Pupkewitz Group, offered to all its 1 860 employees, has been concluded, with most of the employees opting to take early retirement to use the proceeds to start up their own business or invest in livestock. According to a spokesperson for the Group, the exercise has allowed for consolidation...
Minister of Industrialisation and Trade, Lucia Iipumbu, says the state needs to be fully aware of the private sector’s needs, its potential as well as any major obstacles if it wants to develop and execute policies effectively and efficiently. Iipumbu made the comments yesterday when officially launching three projects under her ministry, supported by GIZ-Promotion...
The finance ministry yesterday confirmed that Namibia has applied to the International Monetary Fund (IMF) for a N$4.5 billion loan, through the institution’s Rapid Financing Instrument (RFI). The IMF on Monday approved a US$4.3 billion loan for neighbouring South Africa after the institution recently made US$50 billion available to help countries tackle the Covid-19 pandemic. ...
Bank Windhoek has confirmed its main branch in the capital, as well as the Auas Valley and Ashirwad agencies that are served from that branch, were closed over the weekend after one of the branch’s employees tested positive for Covid-19. As a precautionary measure, the branch was disinfected and all co-workers were sent home to...
Bärbel Kirchner The coronavirus outbreak comes at a time when Namibia was already struggling to return to higher growth levels. Since 2016 Namibia has experienced an economic downturn, and indeed a devastating recession. This situation has been further exasperated by the global pandemic and efforts to contain the spread of Covid-19 and to avoid a...
The Deputy Minister of Information and Communication Technology (MICT), Emma Theofelus, as well as the Bank of Namibia governor Johannes !Gawaxab have been named among the 100 Most Reputable Africans by Reputation Poll International, a leading global reputation-management firm. The list features 47 women and 53 men from diverse sectors, including leadership, entertainment, advocacy, education...
The Communications Regulatory Authority of Namibia (CRAN) yesterday confirmed the issuance to the Windhoek City Council of a Class Comprehensive Telecommunications Service Licence, with additional licence conditions imposed. The licence is effective from 24 July. CRAN hosted a public hearing on 15 July on the application for reconsideration submitted by Paratus Telecommunications (Pty) Ltd on...
A deplorable state of affairs regarding the completion of infrastructure and capital development projects throughout the country has surfaced through a report requested by President Hage Geingob and commissioned by works and transport minister John Mutorwa. The final report, which was completed at the end of June 2020, confirmed that a trifling 54 capital projects...
LONDON – Gold soared to a record high on Monday as investors rushed into the safe-haven commodity on concerns about heightened China-US tensions, a spike in virus infections and a lack of progress on a new stimulus bill in Washington. “Always a sign of trouble, gold continued its red hot streak on Monday, the haven...
Business that have incurred losses due to Covid-19 and who have Contingent Business Interruption (CBI) cover with Santam will receive up to N$30 million in urgent relief funding. The payments from Namibia’s largest short-term insurer will be made to its clients in the hospitality, leisure and non-essential retail services industries. The aim of the relief...