As at the 31st of July 2022, the stock of international reserves stood at N$49.2 billion compared to N$43.9 billion at the end of May 2022, the Bank of Namibia has said. The Bank noted that the increase in international reserves was mainly due to SACU receipts, diamond proceeds andContinue Reading
Green hydrogen development company Hyphen Hydrogen Energy (Hyphen) is optimistic that the implementation agreement for a planned N$160 billion project will be signed with the Namibian government by year-end. The signing of the implementation agreement will trigger the commencement of the front-end engineering design phase of the project, which willContinue Reading
In line with Letshego’s purpose to improve lives, the pan-African inclusive finance Group is now launching its latest flagship product, Affordable Housing. The product is available to customers in Namibia and Botswana, with rollout plans to the Group’s remaining pan-African countries. Citizens across Africa, and many global emerging markets, struggleContinue Reading
The Capricorn Foundation has announced the successful conclusion of entries for its Food Waste Challenge. In line with its vision to be Connectors of Positive Change, the Foundation previously called for innovative solutions from the public to reduce food waste in Namibia to help address the problem of food insecurityContinue Reading
…sector also employs over 6000 people in rural areas Namibia’s wildlife population generates Euro 13.6 million (about N$227 million) in annual hunting revenues and employs over 6,000 people in rural areas, minister of environment, forestry and tourism, Pohamba Shifeta has said. Shifeta highlighted that Namibia’s wildlife also contribute to foodContinue Reading
…as Growth at home strategy gather steam in phase two The Ministry of Industrialisation and Trade (MIT) is exploring wood charcoal as an industry for value addition under the growth at home strategy. In this light, the Ministry has said that it has constructed a charcoal production factory at Witvlei,Continue Reading
Staying true to their company purpose of “Creating a future, enhancing life”, Pick n Pay Namibia, a subsidiary of the Ohlthaver & List Group (O&L) and the Namibia Food and Allied Workers Union (NAFAU) has signed a one (1) year substantive agreement, taking effect on 1 July 2022. The agreementContinue Reading
…payday borrowers owe N$58 million The micro lending industry’s value of the loan book (outstanding value) increased by 1.0 percent on a quarterly basis and by 8.1 percent on an annual basis to N$7.4 billion, an industry quarterly report released by Namfisa reveals. The loan book continued to be dominatedContinue Reading
The Macroprudential Oversight Committee (MOC) of the Bank of Namibia at its third meeting held on 4 August 2022 reviewed the overall state of global and domestic financial stability, paying particular attention to the developments in and risks to the Namibian financial system. The Committee concluded that the financial systemContinue Reading
The Langer Heinrich uranium mine, in Namibia, is poised to return to production after the ASX-listed Paladin took the decision to restart operations. First production is targeted for the March quarter of 2024. Restart costs for the operation have previously been estimated at $81-million (about N$1.3 billion), with the life-of-mineContinue Reading
