Rudolf Gaiseb Small and medium-sized enterprises (SMEs) and corporations can enhance decision-making and gain a competitive edge in the business world by employing business intelligence (BI) and data analytical (DA) mechanisms. Experts say these two components are eliminating inefficiencies while solidifying prompt execution and decision-making, especially now that managers and decision-makers do not have time...
NAMIBIA’S electricity imports have surged to 28.4% year-on-year, highlighting the country’s ongoing struggle with local energy generation. The Bank of Namibia stated that local electricity production fell by 6.5% during the third quarter of 2024. This is exacerbated by reduced water availability and technical issues at the Ruacana hydro-power plant. “This decline in local generation...
Mines minister Tom Alweendo, has announced a new ministerial directive for procuring new power generation projects to enhance Namibia’s energy security. The 2024 Ministerial Determination introduces a new allocation of 330 megawatts (MW) of solar PV capacity for procurement and implementation. In the document released by the ministry last month, Alweendo stated that the new...
The construction sector in Namibia is grappling with a challenging landscape as the real value of building plans approved has significantly decreased. During the third quarter of 2024, this value fell by 40% year-on-year and 15.8% quarter-on-quarter, totalling N$315.2 million. “Being a leading indicator for future construction activity, this is not a good development for...
The chief executive officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Simataa Matomola, has been appointed as a member of the executive committee (Exco) of the International Association of Insurance Supervisors (IAIS) during the annual general meeting held on 5 December in Cape Town, South Africa. IAIS is a global standard setting body...
The domestic economy maintained a positive growth trajectory during the third quarter of 2024 albeit at a slower pace when compared to the same time last year. According to the central bank, Namibia’s economy registered a growth rate of 2.8% during the third quarter of 2024, which is lower than the 3.1% growth recorded in...
Bank Windhoek was recently recognised as the Best Foreign Exchange (FX) Bank in Namibia by London-based Global Finance, a leading international financial portal and print magazine. Global Finance covers various areas such as banking, trading, technology, tax and legal, and asset and wealth management. The bank also scooped the Small and Medium Enterprises’ (SME) Bank...
Namibia has become a hotspot for oil and gas activities. A ‘boom’ seems just a matter of time, with major companies like Chevron and Halliburton recently opening offices in the country. The oil and gas sector is putting down roots, which is excellent news for Namibian companies and Namibians. It will create employment and business...
The Development Bank of Namibia (DBN) has announced the appointment of its chief executive officer John Steytler to the board of trustees of the Southern African Development Community’s Development Finance Resource Centre (SADC-DFRC). The appointment was confirmed at the SADC DFI Network meeting held on 29 November 2024 in Mbombela, South Africa. The SADC-DFRC is...
The Namibia Employers Federation (NEF) has been actively advocating the deferment of the National Minimum Wage (NMW) implementation, which is currently set for 1 January 2025. Despite extensive engagement with unions and government stakeholders, no agreement to postpone the date has been reached. Many union offices have already closed for the holiday season, leaving consultations...