Much of the trade emanating from the African Growth and Opportunity Act (AGOA), the United States (US) legislation that provides eligible sub-Saharan African countries with duty-free access to the American market, can be attributed to trade in mineral resources. This trade, noted industrialisation and trade minister Lucia Iipumbu, tends to be more capital intensive but yields...
Brazil’s state-run oil firm Petrobras has reportedly made a non-binding offer to buy a major stake in the Orange basin off the coast of Namibia. Industry insiders reported that Petrobras is interested in acquiring the massive oil discovery made by Portuguese company Galp Energia and its local partners. Petrobras’ offer was shared with an international news agency...
The ongoing protests in Kenya has necessitated organisers of the Namibia-Kenya Chamber of Commerce to change the initial venue for its launch on 31 October from Nairobi to Windhoek “to give room for imminent positive political and economic changes currently sweeping the country,” said Elvis Mboya, the chamber’s founder and brand ambassador. The Kenyan protests,...
BELÉM (Brazil) – The United States is launching a new initiative to help South American nations disrupt illicit activities that harm the Amazon rainforest, Treasury Secretary Janet Yellen announced in Brazil on Saturday. “Across the Amazon, criminal organisations and individuals are motivated by the potential for financial gain to illegally harvest plants, minerals and wildlife,”...
WASHINGTON – The US Federal Reserve may signal this week that interest rate cuts are on the way – although it is widely expected to remain on pause until its next rate decision in September. Fed officials, who have admitted moving too slowly to stem an inflationary surge in 2021 and 2022, have been wary...
Organisations regarded as “employers of choice” are highly desirable to work for because of their compelling employer brand promise and reputation, the attractive benefits they offer, the opportunities for career progressio, and their ideal and model corporate culture. Leading organisations place emphasis and underpin the importance of setting strategic objectives and key initiatives focused on...
The Namibia Airports Company (NAC) on Friday certified 49 young Namibians with basic fire-fighting skills following six-months of rigorous training at the Hosea Kutako International and Walvis Bay International airports. The graduation at the Namibia Institute of Public Administration and Management (NIPAM) heralds a new lease for the country’s airport safety. The trainees will now...
The Namibia Revenue Agency (NamRA) recovered N$20 million from 14 fishing companies between 1 May and 19 July 2024. This is as the revenue agency intensifies efforts to combat deliberate tax evasion within the fishing industry. In a statement issued last week, NamRA stated it has taken targeted actions to halt revenue leakage in this...
PARIS – The world’s richest one percent increased their fortunes by a total of US$42 trillion over the past decade, Oxfam said yesterday, ahead of a G20 summit in Brazil, where taxing the super-rich tops the agenda. Despite this windfall, taxes on the rich had plummeted to “historic lows”, the NGO added, warning of “obscene...
LONDON – British fintech company Revolut yesterday said it had obtained a long-awaited UK banking licence – but must wait to lend money and take deposits as it remains in a restrictive phase. The licence granted by regulators linked to the Bank of England will allow Revolut to eventually compete better with established UK lenders,...