SIMONIS Storm Securities expects another 75bps hike in the repo rate before the end of 2022, which would lift the prime rate from 8.00% to 8.75%. In its recent meeting, the Monetary Policy Committee of the Bank of Namibia (BoN) raised its repo rate by 25 basis points from 4.00%Continue Reading
ECONOMIST, Theo Klein has offered to explain why the fuel price will be going down this week. His explanation is as follows: Withstanding the global oil terrain experienced over the past few months, the Ministry of Mines and Energy (MME) incurred an over-recovery of 31 cents per litre on petrolContinue Reading
THE Namibia Inter-bank Settlement System (NISS) continued to maintain high system availability throughout 2021 further recording a settlement milestone of N$1.0 trillion during the reporting year. This was revealed by the Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (NAMFISA) when they jointly released the annual NamibiaContinue Reading
Rössing Uranium increased its water storage capacity by 600,000³ with the completion and inauguration of six water reservoir tanks which came at a cost of N$100 million. The reservoirs assist in easing the pressure on the already existing NamWater infrastructure. Rössing said water is a key commodity in the operationContinue Reading
A Development Bank of Namibia (DBN) Covid-19 business relief loan has helped to preserve approximately 950 jobs by providing finance of N$53 million to pay salaries of employees of the well-known tourism and hospitality operation, The Gondwana Collection.The 950 employees are distributed among 28 accommodation establishments and companies that makeContinue Reading
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
