Business

Minister of Information and Communication Technology Stanley Simataa this week motivated the Communications Amendment Bill in the National Assembly.

MTC executive Tim Ekandjo yesterday announced the completion of phase one of the 081Every1 network project, which was worth N$232 million. He said the 081Every1 network project is well on track.

Minister of Finance Calle Schlettwein says Public-Private Partnerships (PPPs) are an excellent opportunity for the development of the Namibian economy.

The European Investment Bank (EIB) is expected to increase its Africa financing to €4 billion (N$65.2 billion at an exchange rate of 16.3) in 2020. Looking ahead, the EIB expects to significantly increase engagement in both sub-Saharan and North Africa and to provide the €4 billion to support public and private investment across the continent in 2020. 

De Beers Marine (Debmarine) Namibia’s revenue, production and earnings before interest, tax, depreciation and amortization (EBITDA) declined with significant percentages for the 2019 financial year.

The rental market continues to bottom-out although at a moderate pace. In effect, the FNB Rental Index as at December 2019 shows a contraction of 0.8% - reflecting a steep improvement from a contraction of 8.6% recorded over the same period in 2018. 

The FirstRand Namibia Foundation Trust recently donated N$20 000 toward the NUST Career Starter Week (CSW) Workshop. The Namibia University of Science and Technology (NUST) and B360 Education Partnerships first piloted the CSW Workshop in 2017. 

The Government Institutions Pension Fund’s unqualified audit opinion for the period ended March 2019 shows that the fund’s asset base increased by 6.3% from N$111.1 billion to N$118.1 billion. 

The year 2020 is a special year for NWR as the company becomes 21 years old just as Namibia celebrates becoming 30 years of age. In this context, Namibia Wildlife Resorts (NWR) has confirmed an unbelievable independence discount during the month of March 2020 with added incentives.

Capricorn Investment Group Limited reported satisfactory results on Thursday with group profit after tax of N$557 million for the six months ended 31 December 2019, increasing by 7.9% compared to the prior period.