Research experts Simonis Storm has said that inflation in electricity charges decelerated to 7.6% y/y in July 2024, a slowdown attributed to the government’s intervention, which cancelled the usual electricity rate hike that typically occurs in July. The Namibian government has allocated approximately N$365 million to subsidise electricity costs forContinue Reading
…as primary sectors are poised for a drop in growth. Growth for diamond mining is projected to turn negative in 2024 on the back of reduced global demand and high base effects from 2023, the Bank of Namibia has said. Following a strong performance in 2023, the central bank saysContinue Reading
The National Petroleum Corporation of Namibia (NAMCOR) and its Board of Directors have announced the termination of the Managing Director, Immanuel Mulunga’s contract of employment, effective immediately. During a meeting held on 8 August 2024, the company said that the Board deliberated extensively on a case of misconduct relating toContinue Reading
Osaat Africa Health Foundation’s Dr. Esperance Luvindao has been selected as a 2024 Echoing Green Fellow. One of 44 Fellows chosen by a Leader in the field of social innovation, Dr. Luvindao will receive an N$1.5 million stipend, as well as leadership development to support OSAAT Africa Health Foundation’s growthContinue Reading
Trustco Group Holdings Limited (Trustco) has announced plans to upgrade its American Depositary Receipts (ADR) program to Level 3, in order to expand its presence in the United States of America (US) capital markets. Trustco’s ADR program began in 2014 as a Level 1 program through Bank of New YorkContinue Reading
Old Mutual Namibia has reaffirmed its commitment to serving the people of Otjiwarongo with the highest level of excellence and support with the relocation of its branch to a brand-new location within the town. Delivering the official keynote address during the branch opening, Ndangi Katoma, Managing Director of Retail MassContinue Reading
By S M Asad Abbas Recently, my colleague, Kehad Snydewel, wrote an article about how Artificial Intelligence (AI) impacts every sector and challenges well-established businesses. A significant and surprising shift is the challenge a company like Google faces. OpenAI announced its entry into the search market with SearchGPT. This isContinue Reading
The fourth preliminary round in the 2024 Nedbank Kapana Cook-Off competition took place in Oranjemund last week Saturday, which marked its first ever stop in the south. The competition, which is in its 10th year, made it’s made its debut in Oranjemund and saw 30 participants take part in theContinue Reading
The Government of Namibia has granted approval for the construction of a 20 million cubic metre per year desalination plant in the Erongo Region, a crucial step toward addressing the rising water demand driven by increased uranium mining and other industrial development, as well as population growth. This strategic decisionContinue Reading
Kraatz, a subsidiary of the Ohlthaver & List (O&L) Group, has announced the successful conclusion of the latest wage negotiations with the Metal and Allied Namibian Workers Union (MANWU). The new one-year substantive agreement, effective from 1 July 2024 to 30 June 2025, reflects Kraatz’s commitment to its Vision 2029Continue Reading
