DIAMONDS multinational De Beers Group is investing N$30 million in Kelp Blue, a startup focused on growing and managing large-scale giant kelp forests, initially off the Namibian coast. These underwater forests have the potential to safely and permanently lock away vast amounts of carbon dioxide in the ocean. Research hasContinue Reading
PREMIUMS paid by member institutions amounting to N$5.079 million and a total annual interest income of N$278,496 has led to a 3.8% year-on-year increase in the market value of the Deposit Guarantee Fund to N$10.260 million. This was revealed in the Namibia Deposit Guarantee Authority (NDGA)’s second Annual Report forContinue Reading
Through the collaborative efforts between the Otjiwarongo Town Council and the National Housing Enterprise (NHE), the housing enterprise acquired 40 plots from the Town Council in 2021 and development was initiated, Business Express understands. Recently, NHE management team led by its Chief Executive Officer, Gisbertus Mukulu visited the project siteContinue Reading
Namibia has been ranked 59th out of 84 jurisdictions surveyed in the Fraser Institute Annual Survey of Mining Companies 2021, seen as a benchmark of a country or region’s attractiveness to mining investment. The ranking is one of Namibia’s lowest ever and compares with 52nd out of 77 in 2020Continue Reading
Minister of Industrialisation and Trade Lucia Iipumbu has said that the region needs to guard and covet its natural active ingredients sector against undue exploitation, which is the bedrock of both the pharmaceutical and cosmetics sector. Speaking at the SACU ministerial investment roundtable last week, Iipumbu highlighted that efforts areContinue Reading
Acting minister of Public Enterprises, Iipumbu Shiimi has dismissed talk of a potential TransNamibia liquidation saying that there is no truth in the allegations as portrayed in the media. Iipumbu emphasised that the State maintains the view that TransNamib is a strategic entity in the country’s logistics hub aspirations andContinue Reading
Diamond miner De Beers, a subsidiary of diversified miner Anglo American, has announced a provisional rough diamond sales value of $565-million (N$8.2 billion) for the third sales cycle of 2022. The value included global sightholder sales and auctions for the cycle. “On the back of robust demand for rough diamondsContinue Reading
ATLEAST 47 000 taxpayers participated in the Electronic Filing Tax Relief Programme that ended earlier this year, Namibia Revenue Agency (Namra) commissioner, Sam Shivute has said. A total amount of N$ 11 156 626 675 in penalties was waived while N$1 320 528 999 was collected and paid into the StateContinue Reading
THE Namibian Competition Commission (NaCC) on 30th March 2022 resolved to initiate an investigation against various private pathology laboratories and other providers of covid-19 testing services in terms of Section 33 of the Competition Act, 2003 (No. 2 of 2003) (“the Act”). The investigation pertains to the alleged excessive pricingContinue Reading
AIM-listed AfriTin Mining has released its five-year growth strategy, which includes enlarging its footprint in Namibia through existing operations and new mining locations. The company also plans on developing multiple technology metals concentrates, with plans to produce lithium, tantalum and tungsten alongside tin. AfriTin will ramp up its tin concentrateContinue Reading
