The Bank of Namibia (BoN) and the South African Reserve Bank (SARB) have cut the repo rate several times since both countries announced states of emergency, closed borders and locked down schools and businesses to curb the spread of the coronavirus, bringing domestic interest rates to historic low levels.
Business
EIF awarded for sustainable finance
The Environmental Investment of Namibia (EIF) has been awarded a Sustainable Finance Award by the city of Karlsruhe in Germany for Outstanding Sustainable Project Financing recognising its success in financing Climate-Change Resilient livelihoods.
NWR board and senior management cut salaries by 25%
For the past six months, all tourism companies have been severely affected by Covid-19 – and the Namibia Wildlife Resorts Limited (NWR), being one of the dominate players in the local industry, was not spared from the impacts of the pandemic.
Breweries results hammered by Covid-19 and trade limits …annual profit down by 71.7% on lower volumes
Heineken South Africa (SA) experienced severe trade restrictions in South Africa, contributing to the Namibia Breweries Limited (NBL) to experience a significant downturn in business and a subsequent share of associate loss of N$76.7 million.
Swakopmund municipality sponsors entrepreneur mentorship programme
The Swakopmund municipality has sponsored 10 local entrepreneurs to the tune N$530 000 to enter a 12-month training programme with the support of the Dome facility.
Air Namibia’s CFO resigns
Air Namibia has confirmed the resignation of its Chief Financial Officer Werner Schuckmann with effect from 30 September 2020.
No fracking to be conducted in Namibia – MME
The Ministry of Mines and Energy (MME) has refuted allegations in an article in a local newspaper, stating that fracking will take place in the Okavango Delta, and assured the public that all necessary environmental impact permits for the project are in place.
Eurowings touches down at HKIA …as tourists start trickling back
At just past six-o-clock in the morning yesterday the first commercial European flight arrived in Windhoek after the international travel ban was implemented in March this year.
Nakawa calls it quits after 8 years at Air Namibia
Air Namibia has confirmed the resignation of its longest-serving spokesperson Paul Nakawa, who was head of corporate communications and stakeholder management.
Quarantines hampers Africa’s aviation restart
AMMAN – The International Air Transport Association (IATA) has called on governments in Africa and Middle East (AME) to implement testing as an alternative to quarantine measures when re-opening their economies.