Business

Letshego Namibia has granted relief to its customers by offering payment holidays and relief during the current economic challenges caused by the Covid-19 pandemic

Finance minister Iipumbu Shiimi says he is content with the response of all Namibians from both the private and public sectors in continuing to fight Covid-19 as a united front.

FNB Namibia temporarily closed its Swakopmund branch starting on Friday 19 June as a health and safety precaution to protect staff and customers from possible Covid-19 infection.  

The National Training Authority (NTA) this week informed stakeholders that, subject to finalisation of the requisite statutory processes, registered employers will not be required to pay the Vocational Education and Training (VET) Levy for the months of July and August. 

The Bank of Namibia said it has become aware of a leaked internal memo whereby it advised its staff of the decision to revert to stage 1 lockdown.

The Keetmanshoop Municipality took note of the impact the Covid-19 pandemic has on residents and local businesses and has resolved to put in place temporary relief measures aiming to compensate for financial difficulties experienced by the citizenry.

The Olafika SME Development and Mentorship 2020 Programme seeks to mentor 150 Namibian entrepreneurship over 10 months.

The Bank of Namibia’s Monetary Policy Committee (MPC) yesterday further reduced the Repo rate from 4.25% to a historic low of 4.00%. This latest reduction translates into a cumulative 2.50%-point reduction in the Repo rate since the beginning of 2020. 

Due to public demand and the effects of Covid-19, the Ministry of Finance has extended the deadline of submitting the annual Individual Income tax returns from 30 June to 30 September 2020.

The International Monetary Fund’s latest Global Financial Stability Report indicates that financial systems have already felt a dramatic impact during the Covid-19 crisis.