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
Acting minister of Public Enterprises, Iipumbu Shiimi has dismissed talk of a potential TransNamibia liquidation saying that there is no truth in the allegations as portrayed in the media. Iipumbu emphasised that the State maintains the view that TransNamib is a strategic entity in the country’s logistics hub aspirations andContinue Reading
Diamond miner De Beers, a subsidiary of diversified miner Anglo American, has announced a provisional rough diamond sales value of $565-million (N$8.2 billion) for the third sales cycle of 2022. The value included global sightholder sales and auctions for the cycle. “On the back of robust demand for rough diamondsContinue Reading
ATLEAST 47 000 taxpayers participated in the Electronic Filing Tax Relief Programme that ended earlier this year, Namibia Revenue Agency (Namra) commissioner, Sam Shivute has said. A total amount of N$ 11 156 626 675 in penalties was waived while N$1 320 528 999 was collected and paid into the StateContinue Reading
THE Namibian Competition Commission (NaCC) on 30th March 2022 resolved to initiate an investigation against various private pathology laboratories and other providers of covid-19 testing services in terms of Section 33 of the Competition Act, 2003 (No. 2 of 2003) (“the Act”). The investigation pertains to the alleged excessive pricingContinue Reading
AIM-listed AfriTin Mining has released its five-year growth strategy, which includes enlarging its footprint in Namibia through existing operations and new mining locations. The company also plans on developing multiple technology metals concentrates, with plans to produce lithium, tantalum and tungsten alongside tin. AfriTin will ramp up its tin concentrateContinue Reading
Triple-listed Bannerman Energy will raise A$40.7-million in a single tranche share placement to fund the completion of the Etango-8 definitive feasibility study (DFS) as well as front-end engineering design (FEED) of the Namibian project. Bannerman said last month that it would place 185-million shares, at a price of 22c each,Continue Reading
NAMPORT’S revenue has declined 2% to N$1.113 billion (2019/20: N$1.138) against a target of N$1.032 billion, with an operating profit of N$96 million (2019/20: N$132 million),” the Authority’s latest annual report reflects Subsequently, the Group’s revenue, which includes Namport and its subsidiaries, was down 12% to N$1.485 billion (2019/20: N$1.688Continue Reading
NAMIBIA Breweries Limited’s (NBL) – a subsidiary of the Ohlthaver & List (O&L) Group – overall volumes increased by 9.2%, predominantly due to production volumes sent to South Africa, however, the Namibian beer volumes declined by 7.3% due to COVID-19 waves, which created a restricted trading environment during the periodContinue Reading
The Namibia Industrial Development Agency (NIDA) received dividends of up to N$4 million from Pupkewitz Toyota, Phillip Namunjebo recently revealed. Namundjebo who was speaking at Pupkewitz Toyota’s official opening of their new N$11.7 million state of the art branch in Rundu located at Marcus Shiwarongo Street. “We are very proudContinue Reading
