Business

The latest Financial Stability Report (FSR) by the Bank of Namibia (BoN) shows that risks to Namibia’s financial stability have increased significantly since 2018 as a result of the economic contraction experienced in 2019, coupled with the expected impact of Covid-19 going forward. Since the central bank’s last FSR, the probability and impact of most risks increased, particularly in the macroeconomic environment. 

Why customer care is essential during lockdown?
Several entrepreneurs may ask this question. Without customers during the current lockdown customer care is not required. This is true, but every entrepreneur has to plan for the future. Running businesses often told me: “We don’t have time for new approaches. We must concentrate on making money.”

The Bank of Namibia expects the domestic economy to contract by 6.9% in 2020, following a milder contraction of 1.1% in 2019. This is according to its economic outlook update for April 2020, which was released yesterday. 

The Development Bank of Namibia has suspended four of its employees, pending an investigation into alleged breach of the bank’s operational standards. The suspensions were effected as a result of anonymous tip-offs received. 

WALVIS BAY - The success of smart partnerships is evident in Erongo region with the private sector taking the leading role in assisting the public health sector as well as residents in the region during the Covid-19 pandemic.

​​​​​​​Curbing the spread…Namibian entrepreneur Sylvanie Beukes passes through a disinfecting chamber that he constructed together with partners, Abed Nakalenga and water specialist Sidney Beukes. The trio built the locally manufactured hands-free disinfectant chamber, which they hail as first of its kind for Namibia.

KEETMANSHOOP - Registered street hawkers selling fresh produce in the capital of the south will be allowed to resume business today, following approval granted by the Keetmanshoop municipality.

Corporate social responsibility (CSR) helps a company be socially accountable to itself, its stakeholders and the public. By practising corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they have on all aspects of society, including economic, social and environmental.

Ethiopian Airlines recently completed the flight and delivery of the second round shipments of life-saving medical supplies to fight Covid-19 donated by Jack Ma to all African countries. 

The Electricity Control Board (ECB) has confirmed that electricity tariffs will not change and therefore will remain at N$1.65 per kilowatt-hour for the period 2020/2021. The approved tariff is applicable to NamPower bulk customers, such as Regional Electricity Distributors (REDs), local authorities, regional councils and mines.