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Finance / Page 12
Inflation-Linked Bond Investors to Receive N$63,1 Million Coupon Next Month
By: Nghiinomenwa-vali Erastus Investors holding the government’s inflation-linked GI27 and GI33 bonds are set to receive their first coupon/interest payment for the year on April 15, 2024. The total interest payment amounts to N$63.1 million, which will be distributed among various institutional and retail investors who have invested in or lent money to […]
Capricorn Foundation Commits N$1 Million to Towards Desert-based Economy
By: Nghiinomenwa-vali Erastus In a bid boost to the RuralRevive initiative aimed at building economic advancement and sustainable development in the Maltahöhe community, the Capricorn Foundation has pledged N$1 million towards the cause. The partnership between Capricorn Foundation and Wolwedans Foundations, the driving force behind the initiative, was announced with much anticipation. This […]
Judiciary Spends 99% of Budget Allocation
By: Hertha Ekandjo The Office of the Judiciary has utilised 99% of its allocated budget for the 2022/23 fiscal year, unlike other government Offices, ministries and Agencies that return enormous amounts back to the treasury every year. For the 2022/23 period, the Office received an allocation of N$386.7 million, with N$384 million expended, […]
Households Credit Growth Slows to Lowest Since 2021 …corporate credit extension reaches N$46 million in January
By: Hertha Ekandjo While individuals typically turn to banks and cash loan service providers in what is often referred to as “Janu-worry” to kick-start the year, the first month of 2024 witnessed the slowest credit growth uptake by households since 2021. According to economists at Simonis Storm Securities (SSS), households experienced a […]
FNB Partners With Namibia Development Trust for World NGO Day
By: Staff Writer FNB Namibia recently collaborated with the Namibia Development Trust (NDT) to commemorate World NGO Day 2024, honouring individuals dedicated to humanitarian causes. World NGO Day was observed on February 27 and 28, focusing on the theme “Building a Sustainable Future: The Role of NGOs in Achieving the Sustainable Development Goals […]
Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark. This increase, from N$89.0 billion in the current financial year, signals an intention to allocate […]
Increased Transaction Fees and Loan Book Expansion Drive Capricorn Group’s Profits
By: Staff Writer Capricorn Group, the parent company of Bank Windhoek, has reported a substantial increase in profits after tax, amounting to N$827.6 million for the period between July 1st and December 31st last year. This marks an 18.5% surge from the N$698.2 million reported during the same period in 2022. “This represents an […]
Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark. This increase, from N$89.0 billion in the current financial year, signals an intention to allocate […]
Trade Union Eyes Promised Salary Hikes in 2024 Budget
By: Justicia Shipena The Trade Union Congress of Namibia (Tucna) Secretary General, Mahongora Kavihuha, is hopeful that the 2024 national budget will honour the promised salary increments for civil servants. In November last year, the Namibia Public Workers Union (Napwu) announced a monthly salary increase of N$600 for employees in grades 15 and 14, […]
SOEs Have Turned into Financial Parasites – Baumann
By: Justicia Shipena As the National Assembly awaits the tabling of the 2024/2025 national budget today, human rights activist Linda Baumann has criticised the operations of the state-owned enterprises (SOEs) arguing that the entities have now morphed into financial parasites draining the government’s resources. Finance Minister Iipumbu Shiimi is poised to present the […]