Business

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.

WINDHOEK - Executive Secretary of the Southern African Customs Union (SACU) Paulina Mbala Elago and the United Kingdom’s director for economic diplomacy at the Foreign & Commonwealth Office (FCO), Lewis Neal, recently signed a Memorandum of Understanding (MoU) to support implementation of the ongoing SACU Customs Modernisation Programme.

WINDHOEK - FNB Namibia’s latest rental index report, which was released yesterday, confirms that growth in rental prices remains in contractionary territory with the FNB Rent Price Index, recording a contraction of 1.9 percent at the end of September 2019, compared to a contraction of 8.6 percent over the same period last year.

WINDHOEK – Activity in the construction sector, which is an excellent barometer of economic strength, started with a gradual recovery during the third quarter of 2019.

WINDHOEK - The annual inflation rate for December 2019 stood at 2.6 percent compared to 5.1 percent registered in December 2018, indicating an inflationary slowdown of 2.5 percentage points.

WINDHOEK - Team Namibia, the member-based organisation has the mandate to contribute towards “Growth at Home” and secure optimal market access for Namibian businesses with the mission to ultimately impact economic sustainability.

WINDHOEK - Bank Windhoek has confirmed the appointment of Frieda Beukes as its new Oshakati Branch Manager, effective 1 January 2020. 

WINDHOEK - In the latest FNB Residential Property Report, FNB’s Group Economist, Ruusa Nandago, states that the FNB House Price Index plunged further into negative territory at the end of September 2019, reaching a historic low of -5.1 percent y/y compared to 2.0 percent recorded over the same period last year.

WINDHOEK – Local electricity generation decreased last year mainly as a result of inadequate water inflow into the Ruacana hydropower plant.

WINDHOEK – The Orano Mining Namibia yesterday announced its internal restructuring process, culminating in the appointment of Tommie Gouws as managing director in the place of Hilifa Mbako, who will now become the executive chairperson.