The central bank’s Monetary Policy Committee (MPC) is expected to reduce the repo rate by 25 basis points (bp) at its February 2025 meeting. This would bring the repo rate to the 2017-2019 average of 6.75%, and would spell some marginal relief for Namibian households. The Bank of Namibia’s (BoN) MPC has expressed confidence in...
WASHINGTON – Elon Musk and his aides have taken control of the US Treasury Department’s payments system, triggering a lawsuit charging he is illegally getting access to private data of millions of Americans. Musk, the world’s richest person, is leading president Donald Trump’s federal cost-cutting efforts under the so-called Department of Government Efficiency (DOGE). The...
The Communications Regulatory Authority of Namibia (CRAN) has appointed Josephine Shigwedha to its executive team, effective 3 February 2025. Shigwedha will assume the role of Executive: Regulatory and Corporate Legal Services. She is an admitted legal practitioner with a Master of Laws (LLM), and has over 11 years of dedicated experience in various aspects of...
Trustco Group Holdings Limited yesterday announced that its board of directors has established an independent committee to manage the proposed delisting from the Johannesburg Stock Exchange (JSE), Namibian Stock Exchange (NSX) and OTCQX Market in the United States. This follows the company’s announcement of evaluating the delisting in preparation for its planned Nasdaq direct listing. ...
Without targeted interventions to stimulate job creation, address regional disparities and better align skills with market demands, Namibia’s labour market risks becoming a driver of social instability and economic stagnation. This is according to FNB’s analysis of the 2023 Labour Force Survey, where the bank states that the findings paint a sobering picture of Namibia’s...
To bridge the funding gap faced by Namibian cleantech entrepreneurs, a crucial session was recently hosted. The event was titled ‘Fundraising 101 for Namibian Cleantech Entrepreneurs: An Introductory Session on How to Find Funding for Startups’. The event, organised by the Environmental Investment Fund of Namibia (EIF), Co- Creation Hub (CcHUB), the United Nations Industrial...
Namibia Water Corporation (NamWater) last month commenced with the Okashandja–Olweege pilot project, which is scheduled to run for six months until June this year. The objectives of the pilot programme are in line with upgrading Namibia’s water delivery infrastructure, and include smart metering technology, automated billing systems, infrastructure upgrades and digital payment platforms. Specifically, the...
The usually sleepy town of Lüderitz is going through a major transformation to accommodate the promising and ambitious green hydrogen sector with over N$60 million worth of contracts awarded so far. The ultimate goal is to transform towns in the //Kharas region, particularly Lüderitz and Aus, to accommodate the emerging industry as well as a...
The African Development Bank Group has pledged US$2 billion over 10 years towards clean cooking solutions in Africa. The pledge represents an important contribution to the US$4 billion per year needed to allow African families to have access to clean cooking by 2030. “Why should anybody have to die just for trying to cook a...
Commuters and consumers have to brace themselves when the petrol price increases by 42 cents per litre, and diesel goes up by N$1.20 per litre on Wednesday. These significant increases are sure to set in motion a domino effect that will impact prices of most items, from transport fares to bread. The mines and energy...