Development Bank of Namibia (DBN) has announced the approval and implementation of a Business Rescue Programme for qualifying businesses financed by the Bank as a possible alternative to liquidation. The programme takes the form of partial conversion of debt into various types of preference shares to be held by theContinue Reading
Through appropriate management and allocation of oil, gas, and green hydrogen revenues, our country can promote economic diversification and thus build the basis for higher and stable growth, Bank of Namibia Governor, Johannes Gawaxab has said. Gawaxab was speaking at the central bank’s annual symposium held last week which wasContinue Reading
A rising public wage bill acerbated by recent N$1.2 billion salary increments has forced government to seek containment measures and announce a recruitment freeze for the remainder of this financial year. In his midterm budget presentation last week, Finance Minister Iipumbu Shiimi highlighted that in light of the wage billContinue Reading
The ministry of mines and energy (MME) has explained Namibia’s electricity imports dilemma which has seen the country importing 50-70% of its electricity annually. Executive Director in the ministry, Simeon Negumbo speaking on behalf of mines and energy minister, Tom Alweendo at the inauguration of Osona Village’s electricity upgrade fromContinue Reading
This week, the Mayor of City of Windhoek, Cllr. Sade Gawanas and the Ambassador of the EU Delegation to Namibia, Sinikka Antila officiated the construction of two waste buy back centres in Katutura, as part of EU-funded project to improve solid waste management in the City of Windhoek. The “ImprovingContinue Reading
…as other key highlights include N$144.7 profit after tax up from N$13.3m Namib Desert Diamond (Pty) Ltd (NAMDIA) has released its audited Annual Report for the 2021/22 financial year subsequently declaring a dividend of N$150 million to its shareholder, the government. After two particularly challenging years shaped by the COVID-19Continue Reading
The Namibia Post and Telecom Holdings (NPTH) has turned to the High Court to recover over N$500 000 in rental fees which the Ministry of Works and Transport has allegedly failed to pay, Business Express has established. The court action was subsequent to demand letters seen by Business Express which areContinue Reading
Deputy Minister of Information and Communication Technology, Emma Theofelus has insisted on collaboration and participatory governance in the ICT sector highlighting that this will give stakeholders a competitive advantage. Speaking at hackathon and Telecom Namibia innovation week last week, Theofelus noted that there is no greater mistake than believing thatContinue Reading
With major oil and gas discoveries in early 2022, Namibia is the most recent trailblazer among Africa’s frontier energy hotspots, as displayed by the Invest in Namibia Country Spotlight organized at African Energy Week 2022 in Cape Town on Thursday. Hosted by Namibia’s Ministry of Mines and Energy, Namibia InvestmentContinue Reading
By Riaan Vermeulen If you are wondering “is travel insurance worth it? Weigh the small cost of buying insurance against the massive costs of unforeseen medical expenses or cancellation of flights while on holiday or on a business trip. Affordability is probably the number one reason people do not want or think toContinue Reading
