The African Export-Import Bank (Afreximbank) recently released its consolidated financial statements and those of its subsidiaries for the year ended 31 December 2024. These financials indicate that Afreximbank reported strong financial performance despite a complex global economic landscape marked by geopolitical tensions, inflationary pressures and elevated interest rates, posting a net income of US$973.5 million...
The international gold price reached a record high of US$3500 per ounce yesterday before retreating to around US$3400 per ounce. Thus far, gold is one of the major commodity winners as it has risen above 31% this year. This jump in the gold price is good news for Namibian gold miners such as the QKR...
FNB Insurance has killed two birds with one stone by supporting a local business and promoting road safety at the same time. This is because the insurance arm of FNB has launched a partnership with LEFA Transportation Services Namibia. This is aimed at promoting responsible driving and enhancing road safety in Namibia. The agreement is...
Bank of Namibia Governor Johannes !Gawaxab has cautioned that the economic fallout from renewed United States of America trade tariffs imposed under president Donald Trump’s administration, coupled with the uncertainty surrounding tariff details, will adversely impact sectors such as diamonds, marble and manufacturing. Tariffs are defined as taxes charged on goods bought from other countries....
Old Mutual Namibia reached a significant milestone on its Rewards Programme, where customers have to date redeemed more than 10.4 million, which is equivalent to N$1 million. The programme continues to grow as a key customer loyalty and engagement programme, with more than 25 000 members now participating in it. Old Mutual Namibia’s existing Rewards...
AMSTERDAM – Heineken yesterday said its beer sales were down in the first quarter but kept profit forecasts for the year unchanged despite noting increased uncertainty from tariffs. Global beer volumes for the world’s second-biggest brewer after AB InBev came in at 54.1 hectolitres in the first three months of the year, compared to 55.4...
Hyphen Hydrogen Energy (Hyphen) has launched the Hyphen Hydrogen Energy Skills Census, which it describes as a groundbreaking initiative supporting Namibia’s first large-scale green hydrogen project. This census allows Namibians to submit their skills information and upload relevant documents to be included in a comprehensive job- seekers database. The Hyphen Green Hydrogen project in southern...
When the recently- tabled national budget is unpacked, it emerges that only 12% of the allocated funding directly goes into building the roads, schools, hospitals, water, electricity and rural infrastructure. These are items that Namibians need most, said Swapo parliamentarian Fenny Nanyeni. She urged that Namibia should ensure its borrowing decisions directly support capital formation,...
MASERU – Lesotho on Monday granted a licence to tech billionaire Elon Musk’s Starlink satellite internet service, hours after denying it was fast-tracking the process as part of United States (US) tariff concessions. The small African kingdom was hit this month with tariffs of 50% on goods exported to the US – the highest for...
Amid growing trade tensions, the International Air Transport Association (IATA) has reinforced its position that trade drives prosperity, and that any measures undermining the free flow of goods ultimately hurt businesses, consumers and economies. “Current trade tensions are deeply concerning. Trade drives prosperity. The more the world trades, the better off we all are. So,...