CAPE TOWN – Supermarket giant Pick n Pay on Tuesday said 1 400 staff had accepted voluntary retrenchment packages and launched a broadside at the government over its ongoing ban on tobacco and alcohol sales as part of efforts to combat the Covid-19 pandemic. The company said while the retrenchments had been in the pipeline...
Money in the time of Covid-19 is an anxiety-inducing topic. This is a challenging time and we have a “new normal” that we must adapt our lives and our finances to. When life gets this unpredictable, the best thing one can do is go back to basics. Here are some of my 2020 money management...
Have we seen the bottom? It appears so. The NSA (National Statistics Agency) has released a set of six sectoral indices with data to May 2020 for the following sectors: Beverages, Building Industry, Electricity, Livestock, Tourism and Transport. They all still show that, compared to the same time last year, economic activity is down massively. ...
As a task to expand its revenue optional pool to diversify its resources, the Environmental Investment Fund of Namibia (EIF) established a Resource Mobilisation Strategy as a framework for revenue generation through which it managed to mobilise about N$1.3 billion. This was confirmed in the Fund’s 2018/2019 annual report. CEO of EIF Benedict Libanda said...
The Namibia Competition Commission (NaCC) has blocked the acquisition of Schwenk Namibia (Pty) Ltd, which owns and operates the Ohorongo Cement factory, by West China Cement Limited for N$1.5 billion since it would result in coordination between Ohorongo Cement and Whale Rock Cement, which trades as Cheetah Cement. The proposed acquisition was deemed uncompetitive by...
The board is pleased to announce that Mcube has been listed on the Development Capital Board of the Namibian Stock Exchange (NSX) as a Capital Pool Company (CPC) on Friday, 31 July 2020. “The listing of Mcube may be the catalyst needed to increase the number and diversity of local companies represented on the Namibian...
The Development Bank of Namibia (DBN) yesterday confirmed one of its Walvis Bay staff has contracted Covid-19. As a consequence, all DBN staff members of Walvis Bay are being tested and are in quarantine until further notice. The branch is closed until further notice and will be disinfected during that period. In the interim, staff...
The main opposition party, the Popular Democratic Movement (PDM), has labelled government’s N$4.5 billion loan application from the International Monetary Fund (IMF) as nothing but a veiled attempt of rent-seeking, which is defined as the practice of manipulating public policy or economic conditions as a strategy for increasing profits. Government last week applied for assistance...
Work-life integration means intertwining what you consider “life” or “personal” areas with “work”. It is not the same as work-life balance, where an unrealistic expectation exists to work out an allocation balance of time which separates work from personal life demands. Often when asked the question of ‘how do you balance work and life?’. I...
JOHANNESBURG – Africa’s largest food retailer Shoprite said on Monday it had decided to initiate a formal process to consider the potential sale of all, or a majority stake, in its subsidiary Retail Supermarkets Nigeria Limited. In a trading update, Shoprite said it had made the decision following approaches from various potential investors, and in...