Business

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. 

The Development Bank of Namibia (DBN) recently signed an agreement with the Nkurenkuru Town Council for a N$2.58 million feasibility study, funded by the bank’s Project Preparation Fund (PPF) for the town’s proposed Extension 6. 

Air Namibia has confirmed the resignation of its long-serving General Manager of Commercial Services, Xavier Swaniso Masule, with effect as of 10 April 2020. 

Global airlines have been among the hardest-hit by the Covid-19 outbreak as global air travel demand has basically collapsed since the outbreak of the virus, even before the declaration of a pandemic by the World Health Organisation. 

Minister of Industrialisation, Trade and SME Development Tjekero Tweya on Friday launched a Strategic Action Plan for Sustainable Bush Value Chains in Namibia during the ground breaking ceremony for the construction of the Namib Green Gold Processing (NGGP) production facility.

A N$134.6 million state-of–the–art Bakpro bread factory situated north of Windhoek at Okapuka farm was officially opened by Industrialisation, Trade and SME Development Minister Tjekero Tweya yesterday.

Over the last 10 years, the SME sector has seen a trend of more women taking up opportunities in franchising and this is expected to further increase over the next five years.

Diamond polishing companies currently operating within the soon-to-be-phased-out Export Processing Zone (EPZ) regime, where they enjoy a zero-tax holiday, will be catered for by transitional measures by the which is being finalised by the Ministry of Finance and other relevant government departments.

Different stakeholders in the sphere of labour activities have encouraged Namibia to ratify the International Labour Organisation (ILO) Convention related to violence and harassment in the world of work in order to address, prevent and subsequently eliminate such practices in the workplace. 

Construction of the N$5.5 billion national oil storage facility at Walvis Bay, which was anticipated to be completed last month, is now at a standstill because of the global outbreak of coronavirus as the main contractors are Chinese who could not return to Namibia for final testing of the facility.