By Ruusa Nandago The Minister of Finance and Public Enterprises, Iipumbu Shiimi, tabled the FY24/25 national budget to parliament on 28 February 2024 ahead of a key election year, amid an ongoing drought, sluggish non-mining growth and a less supportive global backdrop. The budget is underpinned by three priority policyContinue Reading
Eco (Atlantic) Oil & Gas Ltd chief executive Gil Holzman told investors the explorer has exciting opportunities for each of its assets, as the company reported on what it described as “period of dynamic activity”. The company, in an update for the three and nine months ending December 31, reportedContinue Reading
In January 2024, livestock marketing activities increased to 66,897 head, marking an increase from the 53,804 head recorded in the previous January and a slight decline from the 79,148 head marketed in December 2023, research firm, Simonis Storm has said. Specifically, cattle marketing saw an increase, with 20,398 head marketedContinue Reading
In January 2024, credit extended to corporates reached N$46,4 billion, an increase of 2.1% y/y as compared to 0.4% y/y growth reported in December 2023. According to the Bank of Namibia, the credit growth in corporate sector was primarily driven by increased demand from manufacturing, energy, and agriculture sectors. Conversely,Continue Reading
FNB Namibia’s Cashplus transaction value have surpassed the N$100 million threshold solidifying the community banking service as the preferred banking method for customers nationwide. CashPlus, a pioneer in the financial services sector makes it possible for Agents to provide financial services thereby enhancing financial inclusion and convenience for FNB customersContinue Reading
In the wake of the repeated calls for write-offs of loan repayments for small and medium enterprises issued with the purpose of enhancing Namibia’s development, economic activity and prosperity, Development bank of Namibia (DBN) Executive for Marketing and Corporate Communication, Jerome Mutumba, has amplified important aspects of mutual responsibility forContinue Reading
By Dr. Esperance Luvindao As Namibia unveiled its budget allocation for the Ministry of Health in the fiscal year 2024/25, many took to social media to express their excitement at the prospect of a progressive healthcare system. Like the fresh aroma of a new marriage, It presumably heralds a significantContinue Reading
Capricorn Group achieved solid results with profit after tax for the six months ended 31 December 2023, increasing by 18.5% to N$827.6 million, compared to a profit after tax of N$698.2m that was reported in the comparative period in the prior year. This represents an increase of 19.4% in earningsContinue Reading
FNB Namibia has announced their sponsorship of World NGO Day 2024, in partnership with the Namibia Development Trust (NDT), recognising those who work for humanitarian causes. World NGO Day was celebrated on 27 and 28 February under the theme of Building a Sustainable Future: The Role of NGOs in AchievingContinue Reading
With significant portion of the government debt is due for repayment, government is edging closer to its largest maturity, the US$750 (N$14.3 billion) Eurobond due on 29 October 2025 which will be the largest single day debt maturity in the history of the country. According to Simonis Storm, debt servicingContinue Reading
