Letshego Holdings Namibia Limited has reported a total revenue increase of 15% year-on-year and a profit after tax of N$418.8 million, which is an increase of 18.5% from N$353.3 million in 2023. This is as the latest financial results for the year ended 31 December 2024 indicate Letshego demonstrated remarkable financial resilience and strategic adaptability...
Sanlam last week reported strong growth in its 2024 annual results. The results showed the group’s earnings’ growth, shareholder value creation and new business was driven by its three growth pillars, namely South Africa, African economies and India. The strong earnings’ growth, robust new business volumes and excellent investment returns underpin the increase in the...
JOHANNESBURG – The United States has pulled out of a climate funding deal struck by rich nations to help their developing counterparts transition to clean energy, the programme’s first beneficiary South Africa said yesterday. The so-called Just Energy Transition Partnerships (JETP) are ambitious financing deals between a small group of wealthy countries and emerging economies...
BEIJING – China vowed to fight a trade war with the United States “to the end” yesterday, as tariffs from Washington buffeted the global economy and threatened to hit Beijing’s lagging growth. Beijing set an ambitious annual growth target of around 5%cent this week, vowing to make domestic demand its main economic driver as the...
NKURENKURU – Vendors from the old Nkurenkuru open market in the Kavango West region have been relocated to the new open market after 10 years of operating under substandard conditions. The new open market, inaugurated on Wednesday by Kavango West governor Sirkka Ausiku on behalf of the minister of Urban and Rural Development Erastus Uutoni,...
Businesses in Namibia’s startup ecosystem face significant challenges in scaling beyond domestic markets. These hurdles are compounded by limited commercialisation platforms, restricted access to funding and a lack of structured support for entrepreneurs. As a result, some Namibian innovators struggle to develop and commercialise their ideas locally, with limited cross-border financial transaction capabilities. This makes...
WASHINGTON – President Donald Trump’s tariffs and the retaliation they attracted will likely weigh on United States (US) growth and boost inflation. Collectively, these could dent US gross domestic growth by one percentage point and hike inflation by 0.6 points if kept in place for the year, said Nationwide chief economist Kathy Bostjancic.“Tariffs represent a...
LAGOS – The retail price of petrol in Nigeria has dropped to 860 naira (US$0.57) per litre, as a major local refinery drives down prices in a country long forced to import its fuel. The 650 000 barrel-per-day capacity Dangote Refinery cut depot prices twice in February, helping knock down costs from a five-month high...
KEETMANSHOOP – South Africa was Namibia’s largest export destination in January 2025, with a share of 22.8% of all goods exported.This is according to the Namibia International Merchandise Trade Statistics Bulletin released on Tuesday by the Namibia Statistics Agency (NSA). The bulletin also showed that the United States of America was Namibia’s second-largest export destination,...
The central bank aims to introduce an entirely new Namibian currency series from June 2025, to replace the current banknote series which has been in circulation since 2012 and the coins that have never been upgraded since their first issuance in 1993. The new series is expected to incorporate the latest security features while ensuring...