Business

The Development Bank of Namibia (DBN) is preparing measures to provide relief to borrowers in the wake of the Covid-19 pandemic, CEO Martin Inkumbi has confirmed.

“In these unprecedented times, it is important to stay focused and practice transcending actions through purpose, care and discipline. Collaboration amongst industry leadership and government has never been this phenomenal,” said O&L executive chairman and NCCI president Sven Thieme in a media statement issued on Wednesday. 

RMB Namibia, through the FirstRand Namibia Foundation Trust has donated N$500 000 to assist a Covid-19 emergency response programme directly targeting the informal settlements in Windhoek. 

Namibia Desert Diamonds (Namdia) has through the Namdia Foundation allocated N$2 million to support the nation’s fight against the deadly Covid-19 pandemic. 

Faced with the prospect of an economy further devastated by Covid-19 after suffering from a recession for the last two years, a private sector task team spearheaded by the ministry of industrialisation and the Namibia Chamber of Commerce and Industry (NCCI) has encouraged businesses to be innovative in conducting their activities in order to minimise the spread of the deadly virus.

The Bankers Association of Namibia (BAN) has provided further clarity to customers on the case-by-case funding relief, which is handled according to each bank’s respective rules. “It is important to clarify that monthly payments will not be waived altogether but will only be moved out for a limited period of time,” said Sarel van Zyl, current chairperson of BAN.

Huawei recently released its 2019 Annual Report detailing a solid business performance. The company’s global sales revenue in 2019 rounded off at CNY858.8 billion, up 19.1% year-on-year; its net profit reached CNY62.7 billion; and its cash flow from operating activities topped CNY91.4 billion, up 22.4% year-on-year.

For thousands of years it was only a privilege of a few people to learn reading and writing. Lack of this knowledge was a tool, like the whip in slavery, to oppress the masses, in particular girls and women. Luckily, this has changed in most parts of the world including Namibia. 

The free reconnection of unpaid water for Windhoek residents will cost the city N$8.9 million, City of Windhoek Chief Executive Officer Robert Kahimise announced on Monday.

After much speculation about the upcoming tabling of the national budget, newly appointed finance minister Ipumbu Shiimi has confirmed the 2020/21 Appropriation Bill will be delayed until further notice.