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...
London – Two studies offered new hope of a potential vaccine for the novel coronavirus on Monday, as the World Health Organisation warned about a possible acceleration of the disease in Africa. Seven months after Covid-19 was first identified in China and has since killed more than 600 000 people worldwide and battered economies, there...
Brussels – European leaders yesterday agreed on a massive aid package for their pandemic-ravaged economies, as President Donald Trump changed his tune in favour of face masks as a tool against the coronavirus in the United States. The virus has infected more than 14.6 million people and killed over 600 000 of them since it...
If one were to focus on the National Equitable Economic Empowerment Bill (NEEEB) in its latest format as an instrument to address poverty and inequality, one of the biggest concerns is that NEEEB has not allayed any fears and made people more appeased with government’s commitment that people’s ownership rights will not be affected, and...