Business

Despite difficult economic conditions in its trading environments of Namibia and neighbouring Zambia, the Capricorn Group still started the 2020 financial year with confidence and even delivered positive half-year results.

Prime Minister Saara Kuugongelwa-Amadhila said the outbreak of Covid-19 has come as an opportunity for businesses in the country to come up with new ideas. 

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. 

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. 

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. 

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.

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 has confirmed the resignation of its Chief Financial Officer Werner Schuckmann with effect from 30 September 2020.

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.

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.