Business

Southern African Development Community (SADC) member states should be developing roadmaps and action plans that prioritise investments and channel scarce resources to identified economic sectors to resuscitate their economies, strengthen resilience and improve competitiveness.

The Meat Corporation of Namibia (Meatco) and the Namibian Food and Allied Workers Union (Nafau) signed the revised recognition and procedural agreement last week.

The FNB Rental Index for the first quarter of 2020 shows that overall residential rent prices rebounded from a two-year negative growth territory.
However, Frans Uusiku, FNB Market Research Manager cautioned that the Covid-19 lockdown is bound to paint a different picture when looking at quarter two of 2020. 

Following its recent donation of 53 tents towards the Covid-19 homeless shelter initiative by the Ministry of Health & Social Services, Namibia Breweries Limited (NBL) followed up with further support of this project, with a beverage donation valued at close to N$100 000.

Namibia went into lockdown several weeks ago; our government’s firm and swift response has so far kept the number of infections very low. Thankfully, no deaths have been recorded and Namibia may come out of this quite well.

The Bank of Namibia officially put the new N$30 commemorative banknote into circulation on Friday at an event held to mark the issuance of the note as a legal tender in the country. This means the new N$30 note banknote can now be used for the payment of goods and services alongside the current family of banknotes. 

A trending WhatsApp stokvel is on Bank of Namibia’s (BoN) radar and while the central bank is still determining whether the scheme is permissible under the relevant provisions of the Banking Institutions Act, it has cautioned the public to be careful in promoting or participating in such schemes.

Deputy Prime Minister and Minister of International Relations, Netumbo Nandi Ndaitwah has distanced herself from a fraudulent email being circulated.

The Pointbreak Money Market Fund has as its primary objective to provide money market returns with 24-hour liquidity, with capital preservation and liquidity taking precedence over the maximisation of yield.

The international rating agency, Fitch Ratings, has upgraded the National Long-Term Rating of the Namibian Ports Authority (NamPort) to ‘AAA’ with a stable outlook.