Bannerman Energy says it is progressing towards a final investment decision on the Etango uranium project, in Namibia, with a strong cash position and favourable market conditions. The company has concluded, on time and within budget, the first phase of early works on the project, including building an access roadContinue Reading
September 2024 vehicle sales reached 988 units, marking a continued decline in the units sold for the past two months, a report by Simonis Storm reveals. Out of the 988 units sold inSeptember2024,978 were sold to dealerships, 10 to rental agencies and none to government. Vehicle purchases by rental agenciesContinue Reading
By Mignon du Preez The most important change introduced by the gazetting of the Income Tax Amendment Act (No. 8442) on 16 September 2024 was that the tax threshold for individual taxpayers increased from N$50 000 to N$100 000, with effect from 1 March 2024. With this, many Namibians willContinue Reading
The Namibia Revenue Agency (NamRA) has announced that 50,804 taxpayers have been identified as beneficiaries of refunds, totalling N$75.1 million in the current cycle of mass tax refunds. Included in this amount are refunds below N$3,000, a deliberate step by NamRA to reduce audit backlogs and speed up the refundContinue Reading
The stock of international reserves stood at N$57.1 billion as at the 30th of September 2024 compared to N$60.8 billion at the end of July 2024, the Bank of Namibia said in a statement last week. The decline was mainly driven by net commercial bank outflows, customer foreign currency withdrawals,Continue Reading
The Namibia Airports Company (NAC) recorded a profit after tax of N$40 million for the 2023/24 financial year, demonstrating shared commitment to the company’s strategic direction. This profit is an increase to the N$19 million recorded in the previous financial year, the company said at its recent Annual General MeetingContinue Reading
The Communications Regulatory Authority of Namibia (CRAN) is representing Namibia at the International Telecommunications Union (ITU) World Telecommunication Standardisation Assembly (WTSA-24), that started from 14 October 2024 and will conclude on 24 October 2024 in New Delhi, India. This global event brings together policymakers, industry leaders, and ICT experts fromContinue Reading
By Sven Thieme As I reflect on our journey towards Vision 2029, I am filled with pride in the O&L Group and the team that drives us forward. Vision 2029 is more than a strategic blueprint; it is a deeply rooted commitment to building a sustainable, profitable and people-centred future.Continue Reading
Omuthiya Spar (Stream Two Properties Close Corporation) is on the cusp of closure after the Spar Group instituted urgent legal proceedings to have it liquidated over alleged debts in excess of N$103 million, Business Express can reveal. Documents seen by Business Express show that Stream Two Properties Close Corporation tradesContinue Reading
A critical period approaches for new global upstream hotspot Namibia. Starting next month, a string of high-impact exploration wells will be drilled in the deepwater Orange Basin, home to multiple major discoveries. The wells will shape future oil and gas activities in the emerging region, a key area for near-termContinue Reading
