O&L Leisure has acquired two exceptional hospitality properties in a merger that is subject to, amongst others, approval from the Namibian Competition Commission. The expansion directly supports the O&L Group Vision 2029, reinforcing O&L Leisure’s role in positioning Namibia as a premier global travel destination. The iconic properties are Le Mirage in the renowned Sossusvlei...
PARIS – Global oil demand will fall slightly in 2030, its first drop since the 2020 Covid pandemic, the International Energy Agency said yesterday. In an annual outlook for the oil market, the Paris-based agency cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to produce...
The Namibia Water Corporation (NamWater) has cautioned the public of an online recruitment scam falsely using its name to advertise vacancies under the heading “NAMWATER LTD 2025 Recruitment.” The fraudulent message reads: “The Namibia Water Corporation (NAMWATER LTD) has opened its online application portal to recruit new staff to fill in various open positions. Recruitment...
The financial services industry is undergoing a seismic shift driven by rapid technological advancement, growing mobile connectivity, and an increasingly adaptive regulatory environment. Across Africa, electronic money (e-Money) solutions are redefining the banking experience—and Namibia is at a unique inflexion point. With rising smartphone infiltration and expanding digital infrastructure, the country is well-placed to leverage...
LONDON – Stocks rose and oil prices pulled back yesterday as fears of a wider Middle East conflict eased even as Israel and Iran pounded each other with missiles for a fourth day. The dollar and safe-haven gold declined slightly. “European shares were surprisingly resilient against a backdrop of uncertainty,” said Russ Mould, investment director...
Government, through finance minister Ericah Shafudah, has reiterated it is not considering any drastic expenditure cuts. She said such cuts would have severe and lasting implications on the livelihood of society, as most of the expenditure goes to social spending. Instead, government is implementing policy and structural reforms in the long term to place the...
ALMATY – Russian nuclear energy giant Rosatom will lead the construction of the first atomic power plant in Kazakhstan, the world’s top uranium producer, the Central Asian country’s authorities said on Saturday.“Rosatom has been named as the leader of the international consortium for the construction of the first nuclear power plant in Kazakhstan,” the former...
The Retirement Fund for Local Authorities and Utility Services (RFLAUN) reminds all pensioners to submit their Certificate of Existence Forms to ensure uninterrupted pension payments. Established in 1992 under the Pension Funds Act No. 24 of 1956, RFLAUN is committed to the socio-economic upliftment of current and former employees of participating local authorities and associated...
FNB analysts expect inflation to ease further to 3.3% year-on-year (y/y) in June, supported by favourable fuel base effects and muted utility inflation following NamPower’s lower-than-expected 3.8% tariff increase. This outlook is contained in FNB’s Namibia’s CPI Review for May 2025, by its economist Helena Mboti. “With core inflation remaining elevated, we maintain our view...
Government has allocated over N$140 million to increase national electricity access from the current rate of just under 60% to at least 70% by 2030. This is to be accomplished by electrifying over 200 000 additional households in rural and peri-urban areas during the next five years. This ambitious but achievable target was announced on...