Last week, the biannual Namibia Genetics Auction Group’s event, which was hosted at the Agra Bank Windhoek Ring in Windhoek, saw participating farmers achieve an average price of above N$60,000 for bulls and close to N$30,000 for heifers and cows. The auction facilitated the sale of 91 cattle, comprising 43Continue Reading
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
CORPORATE taxes paid by the mining industry o government fell from N$2.2027 billion in 2020 to N$1.553 billion in 2021 due to the lower profits recorded, Hilifa Mbako, President, Chamber of Mines of Namibia has said. Mbako who was speaking at the mining industry review for yesteryear also revealed thatContinue 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
Tami Itembu, Public and Government Affairs at ExxonMobil and Production Namibia has said that the entity is still behind in its oil exploration and hopes that the government would offer the company more time to pursue oil. “ExxonMobil is kind of behind. It is still early in the game inContinue Reading
LAST Friday, Bank Windhoek publicly launched its 40th birthday celebrations. Since April 1982, as a wholly owned Namibian financial services provider, the Bank has catered to the needs of Namibia and its people. Bank Windhoek’s purpose over the past 40 years has been to impact the lives of Namibians andContinue Reading
Aim-listed AfriTin Mining has announced the results of its internally produced preliminary economic assessment (PEA) for the Phase 2 expansion of the company’s flagship polymetallic asset, the Uis mine, in Namibia. The PEA shows an aftertax net present value of $2.1-billion and an internal rate of return of 75%. ItContinue 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
