The international oil major Chevron Corporation, which industry insiders expect to soon start exploration drilling in the Orange basin off the Namibian coast, reported earnings of US$4.5 billion for third quarter 2024, compared to US$6.5 billion in third quarter 2023. Foreign currency effects decreased earnings by US$44 million. Adjusted earnings of US$4.5 billion were reported...
NAMIB Desert Diamonds (Namdia) hosted its inaugural open day on 25 November 2024, marking a significant milestone in the company’s commitment to fostering stronger relationships with stakeholders and increasing operational transparency. The event provided key stakeholders a unique opportunity to engage with Namdia’s leadership, learn about the company’s contributions to domestic economic development, and gain...
Capricorn Group has appointed Johan Maass as group financial director, effective 22 November 2024. He joined Capricorn on 1 April 2018, and has served as group chief financial officer since 1 July 2022. Maass is a chartered accountant by profession, with a B.Com Hons degree in chartered accountancy from North-West University. Over the past six...
Bank Windhoek has supported the Katuka Mentorship Programme for the past five years, while witnessing women’s development and its benefits. Mentees within the programme agree that while the Namibian job market can be challenging, having a supportive and established mentor makes attaining career goals easier. The annual Katuka Mentorship Programme held its certificate ceremony on...
LONDON – Major stock markets mostly rose yesterday as traders welcomed Donald Trump’s pick for Treasury secretary, while bitcoin’s push to US$100 000 ran out of steam after coming within a whisker of the mark last week. The equity gains came before key US data over coming days, which could provide fresh clues about the...
New regulations effective since 30 September 2024 have transformed how consumers send and receive money between Namibia, South Africa, Eswatini, and Lesotho, better known as the Common Monetary Area (CMA). “These changes represent a significant advancement to our cross-border payment systems,” explained Brian Katjaerua, CEO of the Bankers Association of Namibia (BAN). “While customers need...
In a deliberate pursuit to drive and achieve digital transformation, Namibia Water Corporation (NamWater), and telecommunications giant MTC, yesterday signed an agreement. The cooperative agreement will see the two institutions work jointly to lead the envisaged Water Sector Digital Transformation. The smart partnership is embarked upon with the ultimate purpose of enhancing the systems and...
In what was expected, Ethiopian Airlines Group, the continent’s leading airline without a doubt, has been awarded as “Airline of the Year – Global Operations” for the eighth time, at the African Airlines Association (AFRAA) 56th Annual General Assembly and Summit held in Cairo, Egypt. The AFRAA annual award recognises excellence in global service delivery,...
The Development Bank of Namibia (DBN) and the Swakopmund Municipal Council signed a Strategic Comprehensive Partnership Agreement (SCPA) to establish a collaborative framework aimed at driving socio-economic development at the coastal town. The SCPA aligns resources, expertise and shared objectives of the two entities to enhance Swakopmund’s infrastructure, stimulate economic growth, and improve the quality...
BAKU – Twenty-five countries at the COP29 climate summit yesterday pledged not to build any new unabated coal-power plants, in a push to accelerate the phasing out of the highly polluting fossil fuel. The United Kingdom, Canada, France, Germany and major coal producer Australia were among the list of mainly wealthy developed economies to sign...