The 11th Mining Expo and Conference, which concluded yesterday, has garnered remarkable support from exhibitors, breaking all previous records. This year, 199 exhibitors occupied 317 booths, up from 162 exhibitors and 268 booths at the preceding show in 2023. This represents a 22.8% increase in exhibitors, and an 18.3% increase in booth utilisation. During the...
Energy minister Tom Alweendo recently discussed an array of issues under his purview while reflecting on the Namibian International Energy Conference held earlier this year. The conference was seen as an excellent setting to celebrate the work being done to grow the country’s energy industry. It is a private sector-led event that brings stakeholders together...
NAIROBI – Kenya’s central bank trimmed Tuesday its main interest rate for the first time in four years, citing easing inflationary pressures as the government struggles to raise revenue and service its public debt following deadly protestors over tax hikes. The bank’s monetary policy committee (MPC) cut its main interest rate by a quarter percentage...
PARIS – Two health experts on Tuesday called for Olympic organisers to cut ties with Coca-Cola, saying the current big-money sponsorship deal allows the US company to “sportswash” unhealthy sugary drinks. Events at the Paris games have been lined with advertising for the ubiquitous fizzy drinks of Coca-Cola, which has been sponsoring the Olympics since...
Farmers Meat, a proud subsidiary of the Ohlthaver & List (O&L) Group, is delighted to announce the successful conclusion of its wage negotiations with the Namibia Food and Allied Workers Union (Nafau). The new established, one-year substantive agreement, effective from 1 July 2024 to 30 June 2025, underscores the company’s unwavering commitment to its employees...
Finance minister Iipumbu Shiimi said the government is now targeting multinational companies to ensure that tax avoidance is minimised. He said big companies in the country have been avoiding paying taxes for almost 15 years, with the excuse of making losses. A tax loss carry forward is a provision that allows businesses or individuals to...
Vice President Netumbo Nandi-Ndaitwah has urged the country to explore ways to utilise local uranium resources. Namibia is ranked as the world’s third-largest producer of uranium, but the country still imports about 70% of its electricity. “As our country becomes a more prominent player in the supply of uranium, we should also consider how Namibia...
Nedbank Group delivered a strong financial performance for the six months to 30 June 2024, amid a challenging operating environment, as Headline Earnings (HE) increased by 8% year to year to N$7.9 billion. Return on equity (ROE) increased to 15% from 14.2% in the first half of 2023. The increase in HE was underpinned by...
WASHINGTON – The ongoing global stock sell-off has fuelled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision. The futures markets, which as recently as last week expected a single quarter-percentage-point cut at the...
National Housing Enterprise CEO Gisbertus Mukulu said the enterprise is grappling with many challenges when it comes to providing housing in Namibia. Scarcity of land, high land prices, rising building material costs and restricted funding were among the issues, he stated. Mukulu made these remarks yesterday while providing an update at the Government Information Centre. ...