Iuze Mukube Namibia Breweries Limited, one of the major private sector players in the domestic economy, last week unveiled a new wine packaging line, constituting an investment of N$337 million. The new packaging line, a significant milestone for the company, is a strategic move to expand production capacity, and diversify the brand portfolio. At the...
Namibia Dairies has commenced with its first export shipment to Zimbabwe, marking a significant milestone in the company’s history. The export not only represents a significant achievement for Namibia Dairies, but also aligns with its commitment to expanding its market reach, enhancing economic ties as well as caring for the communities it touches within the...
The Namibian Competition Commission (NaCC) has approved the proposed merger between Hong Kong-based Sinomine Rare Metals Resources Co. Limited and Dundee Precious Metals (DPM) Tsumeb Holding (Pty) Limited, with conditions. Sinomine Resource Group recently concluded deals to purchase controlling interests in a copper mine in Zambia, and earlier this year purchased Dundee’s copper smelter in...
Qatar Airways Group has acquired a 25% stake in southern Africa’s independent regional carrier, Airlink. The announcement is a continuation of Qatar Airways’ ambition to further develop operations across the African continent. This deal comes as both airlines seek to expand African services and passenger numbers. The investment in Airlink, which flies to more than...
The skyline in Windhoek’s central business district (CBD) is set for a major makeover, as construction has officially commenced on the Capricorn Group’s new 13-storey landmark building. The groundbreaking ceremony on the corner of Independence Avenue and Kasino Street took place on Tuesday morning in what the group called a “historic milestone” for what will...
Louis Potgieter, a senior financial analyst at the Namibia Financial Institutions Supervisory Authority (Namfisa), has been appointed to the International Association of Insurance Supervisors (IAIS) Accounting and Auditing Working Group (AAWG). The working group is tasked withmonitoring developments in international accounting auditing, financial reporting, valuation standards, and public disclosures made by insurers. By joining this...
In a strategic move to foster a new generation of leaders in oil and gas, hydrogen and renewable energy industries, the Namibia Youth Energy Forum (NYEF) has expanded its operations to Lüderitz to respond to a growing demand for an energy youth platform in the region. Fanuel Shinedima, the forum’s founder, said by establishing a...
An inter-governmental committee formulating a Namibian content policy for the burgeoning oil and gas industry has made local content development in the country a priority. The National Upstream Petroleum Local Content Policy, currently in draft format, aims to improve Namibian participation in the sector and boost the domestic supply chain, while continuing to welcome international...
The Central Bank of Libya said on Sunday it was “suspending all operations” after a bank official was abducted in the capital Tripoli, in a statement posted on social media.Musab Msallem, head of information technology at the Central Bank, “was kidnapped by an unidentified group from his house this morning,” said the statement. The bank...
Stock markets diverged Monday, following last week’s strong performance, as traders await a meeting of central bankers that could give fresh signals about the US interest-rate outlook. Positive data last week eased concerns about the health of the US economy after markets were hammered earlier this month due to recession fears and a Japanese interest-rate...