Business

Certain national developmental agendas can only be achieved through public education and some of the crucial issues pertaining to this, according to the Bank of Namibia, are policies related to fees and charges at banks and financial institutions. Director of Payment and Settlement Systems at the central bank, Barbara Dreyer, said that access to affordable financial products and services is a key driver for economic development. 

The Government Institutions Pension Fund (GIPF) is aware of the outbreak of the coronavirus (Covid-19) and has taken the necessary precautions to protect its staff members by encouraging them to practice best hygienic methods such as washing their hands with soap regularly, applying alcohol-based hand sanitisers and wearing of protective gear such as masks and gloves where necessary.  

MTC is set to create temporary employment opportunities for artisans in all 14 regions when it embarks on its project to paint Namibia blue.

Businesses in the country are adhering to the call of President Hage Geingob on the suspension of mass gatherings for at least 30 days. This after Namibia confirmed two cases of coronavirus last week. Most events that were scheduled for April including expos and graduation ceremonies are now postponed.

The FNB House Price Index stood at -4.7% y/y as at December 2019 compared to 0.5% y/y recorded over the same period of the preceding year. On a quarterly basis, the house price index growth has averaged -5.1% y/y in Q4 of 2019 compared to -2.4% y/y realised over the same period of 2018.

Well-known Namibian company, Trustco, has implemented various measures to mitigate against the coronavirus disease to keep staff and customers at its local, continental and international operations as protected as possible from the pandemic that shook the world the past few days.

Given the current world events and the WHO declaring the Covid-19 outbreak a pandemic, local economists are sharing their views and the expected impact of the Covid-19 on domestic, regional and global markets.

OMUTHIYA – Dundee Precious Metals Tsumeb recently purchased industry heavy-duty machinery to be used in transportation of materials at the smelting mine. The machinery was procured from Barloworld Equipment Namibia to the tune of N$25 million and was handed over to Dundee last month. 

The coronavirus outbreak is having an extreme impact on the global financial markets. According to Capricorn Asset Management (CAM) the real cost to the actual economies is still unknown, and the future effects cannot be accurately determined as the situation is still developing. 

The wholesale and retail trade sector is expected to recover to positive growth in 2020, after contractions during the preceding three years. Bank of Namibia projections show that the wholesale and retail sector is anticipated to grow by 1.4% and 1.5% during 2020 and 2021 respectively, from an estimated contraction of 2.5% in 2019.