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Finance / Page 13
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 […]
Katjimune Calls for Probe into SME Financing Challenges
By: Dolly Menas Lawmaker Maximalliant Katjimune has called upon parliament to launch an investigation into the obstacles surrounding Small and Medium Enterprise (SME) financing in Namibia. Katjimune contends that such an inquiry is essential to enhance access to funding and unlock the economic potential of the sector. SMEs constitute a crucial component of […]
Grey-listing Could Negatively Affect Namibia’s GDP by 6%
By: Staff writer Namibia’s recent grey-listing by the anti-money laundering watchdog Financial Action Task Force (FATF) could have a detrimental impact on the country’s Gross Domestic Product (GDP) by up to 6%. The grey-listing occurred on Friday following a review last week, prompted by Namibia’s failure to implement all 72 recommended actions […]
NSFAF Recovery Campaign Nets Only N$41 Million in Three Years…Publication of defaulters’ names remains a possibility
By: Hertha Ekandjo Since the launch of its national recovery campaign in 2021, the Namibia Student Financial Assistance Fund (NSFAF) has managed to recover approximately N$41 million from over 95,000 beneficiaries who owe the institution. However, out of the vast sum owed to NSFAF, totaling over N$9 billion, only around 4,000 beneficiaries have […]
Analysts Urge Responsible Spending Ahead of Election Year
By: Dolly Menas As Namibia gears up for the upcoming general elections scheduled for November, experts are advocating for prudent government spending, particularly in critical sectors like education and healthcare. Speaking at a pre-budget public discussion on Tuesday, Salomo Hei, Managing Director of High Economic Intelligence (HEI), highlighted the expectation of increased government […]
Bank Windhoek Appoints Ngula as Head of e-Money
By: Staff Writer Bank Windhoek has announced the appointment of Candy Ngula as its new Head of Electronic Money (e-Money). In her new role, Ngula will lead the charge in driving the value of e-Money while overseeing its growth and optimization across the bank’s Retail Banking Services. The appointment was officially announced on […]
The Plight of the Destitute: Buy this Wooden Craft or Donate Cash
By: Mathias Hangala For months, a group of Angolan citizens has been residing near Kuryangava’s Stop ‘n Shop market area, sending their youngest members onto the streets of Windhoek to sell wooden crafts and household products, as well as to seek financial donations. Since The Villager’s last report on the group, their numbers have […]
EIF and NASRIA Forge Collaboration on Climate-Related Insurance Products
By: Justicia Shipena The Environmental Investment Fund of Namibia (EIF) and Namibia Special Risks Insurance Association Limited (NASRIA) formalised their partnership through a Memorandum of Cooperation (MOC). This collaborative effort is poised to drive the development and accessibility of insurance products tailored to address the challenges posed by climate change. The signing of the […]
Namibia’s Fixed Currency Presents Challenges in Tackling Inflation
By: Justicia Shipena Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, says the limited flexibility of Namibia’s fixed currency, which is tied to the South African Rand, in combating inflation. Namibia recorded an annual inflation rate of 5.4% for January 2024, slightly higher than December 2023’s 5.3% but lower than January 2023’s […]
Vehicle Sales Surge in January, Marking Eight-Year High
By: Hertha Ekandjo Vehicle sales in Namibia for the month of January have soared to their highest levels in eight years, signalling a robust start to the year for the automotive industry. According to the latest Vehicle Sale Report by Simonis Storms Security (SSS), a total of 950 new vehicles were sold last […]