Savanna Beef Processors has announced the company successfully raised N$146 million from Namibian beef producers. A subscription rate of 73% on the offer. “This was a massive success given the initial targeted raising of N$100 million from producers,” the company said. Earlier in the year, the company led by theContinue Reading
The German Federal Government has mobilized an additional N$256 million to support the Namibian Government, through the Ministry of Environment, Forestry and Tourism, in mitigating the challenges of the COVID-19 pandemic in the conservation and tourism sector. The conservation and tourism sector has been significantly affected by the loss ofContinue Reading
By the end of February 2022, Trustco Group’s shareholder assets under management (or Net Asset Value) had built up to N$6.5 billion, with gross assets amounting to N$8.5 billion, the company has said in the release of its latest unaudited condensed consolidated interim results for the six months ended 28Continue Reading
Bank Windhoek has announced its new fee structure, effective 1 July 2022 which considers the current economic outlook, compounded by the lingering effects of the COVID-19 pandemic. The new fee structure focuses on achieving, where possible, free, or affordable banking; multi-channel availability and convenience, the Bank said in a statement.Continue Reading
Communities across Namibia grapple with the problem of acacia bushes that encroach on their land. The invasive acacia reduces pastureland available for livestock, sucks up groundwater, and negatively impacts Namibia’s indigenous plant and animal species as it competes for natural resources. Africa Burns Charcoal, a Namibian firm, is addressing theseContinue Reading
German Ambassador to Namibia Herbert Beck and the representatives of Rob Youth Foundation today signed a funding agreement worth N$180 000 to support a refurbishment project for the Katutura State Hospital. The Ambassador welcomed the Founder and Director of Rob Youth Foundation – Robert Maseka together with the Secretary General ofContinue Reading
Pharmaceutical products supplier, Afripharm Investment (Pty) Ltd has lodged an urgent application with the High Court to seek urgent relief attacking and challenging certain conditions in bid documents in relation to a public procurement bid recently advertised by the Central Procurement Board of Namibia (CPBN) for the supply and deliveryContinue Reading
Ipumbu Shiimi, Minister of Finance of the Republic of Namibia, and Herbert Beck, Ambassador of the Federal Republic of Germany have signed a financial cooperation agreement on interest-reduced loans between Germany and Namibia. The total amount of the agreement is roughly N$2.7 billion and comprises three major areas of German-NamibianContinue Reading
Namibia has the ingredients to become a renewable energy powerhouse, according to Marco Raffinetti, chief executive of Hyphen Hydrogen Energy, the company selected in November 2021 as the preferred bidder for Namibia’s first hydrogen project. “It has excellent co-located wind and solar resources, large swathes of uninhabited, government-owned land –Continue Reading
…expects overall budget deficit to remain elevated at 7.6% of GDP Fitch Ratings has downgraded Namibia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-‘ from ‘BB’. The outlook is stable. In its rating report and among other key issues, Fitch said that Namibia’s modest growth prospects and a rigid expenditureContinue Reading
