Business

WINDHOEK – Kenneth Matomola, the chief executive officer (CEO) of the Namibia Financial Institutions Supervisory Authority (Namfisa), revealed yesterday that 40% of contractual savings are invested in the local economy with the remaining 60%

WINDHOEK – The Development Bank of Namibia (DBN) has cautioned the public on ‘instant business plans’ that are being promoted on various social media for SMEs and skills-based youth finance.

WINDHOEK – It is a new year and for many people, this is the time to start afresh by setting new goals. In the midst of setting new goals, it is important to also include financial resolutions. 

WINDHOEK – De Beers rough diamond production decreased by 15% to 7.8 million carats, driven by lower production levels in South Africa and Botswana. This was stated by Anglo American in its production report for Q4 which was released last week.

WINDHOEK – The Roads Authority (RA) yesterday celebrated the completion within the stipulated timeframe and within budget of Section 4A of one of the busiest roads in the country, namely the freeway between Windhoek and Okahandja. Section 4A is comprised of 27.6 km of road which has now also been upgraded from a dual carriageway to a four-lane freeway. 

WINDHOEK – The stock of international reserves held by the Bank of Namibia (BoN) declined both on an annual and quarterly basis at the end of the third quarter of 2019, Bank of Namibia governor Iipumbu Shiimi said in the central bank’s quarterly report for Q3 2019.

WINDHOEK – At the conclusion of Team Namibia’s entrepreneurial training programme, which was funded by the Embassy of Finland to the value of N$1.76 million, the member-based organisation honoured the owners of 16 outstanding Katutura-based small and medium enterprises (SMEs). To this end an award ceremony was  held at Xwama Cultural Village in Katutura, Windhoek on Thursday, 23 January 2020.

WINDHOEK – Good news for grape producers is that despite a downturn in the global economy, Namibian fresh grapes exports for 2019 continued to increase, recording a value of close to N$840 million and over 33 million kg in net-weight shipped out. This is more than double the revenue generated by fresh grapes exported in 2015, which produced around N$407 million in sales. 

WINDHOEK – The Economic Outlook for 2020 by Cirrus Securities, a company started in 2017 with a focus on corporate advisory, capital raising and research, predicts that small businesses in Namibia are expected to remain under pressure during 2020. As a result, and depending on the severity of new government policies, Cirrus expects that many small businesses will either close their doors, or lay off further workers.

WINDHOEK – Namibia National Reinsurance Corporation Limited (NamibRe)’s national scale financial strength rating was upgraded by GCR Ratings on 18 December, 2019, to AA-(NA), from A+(NA), with the outlook accorded as stable.