CARACAS – The United States has revoked several transnational oil and gas companies’ licences to operate in Venezuela, Caracas said on Sunday, which had been granted despite Washington’s sanctions against the South American country. United States (US) president Donald Trump is seeking to strangle Venezuela economically in order to cripple its leader Nicolas Maduro, and...
In a significant step towards strengthening national cybersecurity, government has allocated N$20 million in seed funding for the Namibia Cyber-Security Incident Response Team (NAM-CSIRT). This investment facilitated the operational launch of NAM-CSIRT, and reinforced government’s dedication to bolstering national resilience against cyber threats. The Communications Regulatory Authority of Namibia (Cran) last week successfully hosted the...
Oryx Properties, a wholly Namibian-owned property investment company, has announced its intention to acquire the Platz am Meer Shopping Centre in Swakopmund from South African company Safari Investments for N$290 million. The transaction, which includes additional undeveloped land adjacent to the shopping centre, is subject to approval by the Namibia Competition Commission. The acquisition represents...
A significant decline in global oil prices due to increased supply, specifically from non-OPEC producers, will see domestic fuel prices decline this coming Wednesday. The petrol price will reduce by 50 cents a litre, while both diesel variants will be 80 cents a litre less. This means that at Walvis Bay, which is the port...
The Namibia Revenue Agency (NamRA) says it is committed to supporting the realisation of the national budget objectives by enhancing revenue-collection efforts. These collection efforts are the core of NamRa’s mandate to ensure the State has the necessary resources to implement the stated policies and programmes. NamRA congratulated finance minister Ericah Shafudah on tabling a...
Soon after her inauguration, President Netumbo Nandi-Ndaitwah announced the consolidation of 21 ministries into just 14. This move signalled a shift in the government’s approach to administrative efficiency as the decision, part of a broader strategy to tighten the fiscal belt, aims to streamline operations, reduce redundancy, and create a more cost-effective government. Economic analyst...
TOKYO – Japan’s government warned yesterday of a “significant impact” on its economic ties with the United States (US) and on global trade after president Donald Trump announced import tariffs on cars.Tokyo is one of Washington’s closest economic and strategic allies, with its firms the biggest investors in the United States and one in 10...
In September 2024, Bank Windhoek published its third Sustainability Bond Impact Report, highlighting the impact of its financing initiatives during the 2023-2024 financial year. The N$407 million raised from the inaugural issuance enabled the bank to advance sustainable finance in Namibia by supporting small-scale projects, and reinforcing its commitment to responsible business practices and environmental...
Trustco’s Real Estate Portfolio has received approval and has registered the Ombala Estate in Ondangwa’s Extension 11, which it intends developing. In a statement issued yesterday, Trustco noted the proposed development has been officially approved and registered, marking a significant milestone in Ondangwa’s expansion. This premium development, acquired by Trustco Properties in 2010, offers residential,...
The Eco Dialogue Collective, a new European Union-funded initiative, will support Namibia’s transition to a greener future by strengthening transparency and accountability in the management of natural resources such as green hydrogen, oil and gas. “Namibia has an abundance of natural resources and precious ecosystems that need protection. But it also faces the effects of...