The thorny subject of corporate corruption is pulling Namibia backwards; hence, it needs to be prioritised and addressed without fear or favour, warned Lameck Odada, an economics lecturer at the Namibia University of Science and Technology (NUST). Odada said entities entrusted with duties to investigate and prosecute corrupt individuals need financial support from the government...
Keetmanshoop Mayor Gaudentia Kröhne says that in a sense informal housing is one of the most serious obstacles to democracy and sustainable development. The mayor made these remarks at the official site handover for the construction of 77 National Housing Enterprise (NHE) houses here on Wednesday. “I believe that allowing our people to continue dwelling...
The Government Institutions Pension Fund (GIPF) has confirmed Namibia’s first largescale commercial blueberry harvest, produced by the Mashare Berries project, which forms part of the Spitz Capital Fund anchored in the GIPF unlisted investment programme. The project is situated 50km east of Rundu on the banks of the Kavango River. Mashare aims to harvest an...
The City of Windhoek has identified a master plan for the development of infrastructure for informal traders to upsurge the informal economy. Speaking at the handing over of a newly-built informal market in Okuryangava on Wednesday, City’s strategic executive for economic development and community services Fillemon Hambuda said due to the economic impact the Covid-19...
The local index of the Namibian Stock Exchange lost an astounding N$6.5 billion in market capitalisation one day of trading last week, which was, however, quickly regenerated in subsequent trading. Local stock brokers and economic analysts, who described last week’s major selloff of shares as a “bloodbath on the Namibia Stock Exchange”, pointed out the...
Bank Windhoek this week published its first Green Impact Report which details projects that received funding from its NSX listed Green Bond proceeds and highlights the core environmental impact indicators on a project level basis. The impact indicators are derived from the bank’s Green Bond Framework and the International Capital Market Association’s Green Bond Principles....
Clarifying the practice of forex trading in Namibia, the central bank has reminded prospective traders that the exchange or conversion of the Namibian Dollar into any foreign currency is heavily regulated to control the use of the country’s foreign currency reserves in the best interest of the economy. This comes after a local lawyer, Kadhila...
Bank Windhoek has confirmed that one of its Walvis Bay branch staff members has tested positive for Covid-19. This follows the closure of the bank’s Walvis Bay Branch on Thursday, 16 July 2020, due to a case of suspected contact with someone who tested positive for Covid-19. As a precautionary measure, the Walvis Bay branch...
After more than 20 years, Namibia Wildlife Resorts (NWR) managed to record a profit for the first time since it was created in 1999. According to NWR chairman Ambassador Leonard Iipumbu, the institution recorded a profit of N$22 million this past financial year, which he noted is a N$41 million improvement on the 2018 financial...
The annual percentage change in the producer price index (PPI) for manufacturing of cement, lime and plaster was stagnant during the first quarter of 2020, compared to the 9.2% deflation recorded during the same period last year. The PPI measures the rate of change in the prices of goods and services bought and sold by...