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Court Favors Myrtle in N$450 Million GIPF Shares Dispute
By: Uaueza Kanguatjivi Myrtle Growth Capital has won a court battle in which the Government Institutions Pension Fund (GIPF) filed an urgent application to stop it selling or liquidating shares worth N$450 million held by the Namibia Mid-Cap Fund (NMCF). The High Court dismissed GIPF’s urgent application to block the sale, ordering GIPF […]
Slow Growth of Capricorn’s Loan Book Sparks Concerns Over Future Earnings
By: Staff writer The Capricorn Group’s slow growth of its loan book is raising doubts about its ability to maintain strong earnings, as rising costs and potential margin pressures add to the challenges. The Group’s gross loans and advances increased by N$1.18 billion since 30 June 2024, reaching N$51.8 billion. This growth was […]
Namibians to Feel Pinch of Proposed 2% VAT Increase in South Africa
By: Loise Shiimi Namibian economists warn that a proposed 2% increase in South Africa’s value-added tax (VAT) could have a significant impact on Namibian consumers, as the hike contributes to rising costs of goods and inflation. South Africa’s Finance Minister, Enoch Godongwana, recently postponed the tabling of the national budget to 12 March […]
Shiimi Raps NIDA Over Knuckles For N$3 Billion Non-Performing Assets
By: Uaueza Kanguatjivi, David Shoombe Finance Minister Iipumbu Shiimi has urged the Namibia Industrial Development Agency (NIDA) to use its N$3 billion worth of assets to drive sustainable growth. This comes after the entity reported a N$102 million loss in 2024 after launching its first annual report in six years of existence. “If […]
Namibia’s Efforts to Exit FATF Greylist Not Over
By: Justicia Shipena Namibia’s potential failure to exit the Financial Action Task Force (FATF) greylist by the end of its current cycle in March 2025 will not mark the end of the country’s efforts, according to economist Salomo Hei. This assurance follows the Financial Intelligence Centre’s (FIC) announcement on Monday that Namibia has […]
Windhoek Sees Growth in Building Approvals
By: Dolly Menas Windhoek recorded a 5.2% year-on-year (y/y) increase in approved building plans this January, with the city’s municipality approving 74 building plans valued at N$47 million. Despite this growth in approvals, the total value of the plans decreased by 12.1% y/y. According to data compiled by IJG, 38 building plans valued […]
Boy Who Travelled 200 km to Attend Nujoma’s Memorial Receives N$31,500
By: Annakleta Haikera Thirteen-year-old orphan John Kakuwa, who travelled 200 km from Divundu to Rundu to attend the memorial service of Founding President Dr. Sam Nujoma, will return to school for the first time in over two years after touching the hearts of mourners. Kakuwa made the journey last Thursday, hoping to attend one […]
Non-Performing Loans Threaten Banks’ Stability
By: Justicia Shipena Economists are warning that the growing volume of non-performing loans (NPLs) in Namibia could destabilise the financial sector and jeopardise banks’ balance sheets. An increasing number of Namibians are defaulting on loans due to affordability challenges, with experts attributing the trend to prolonged economic difficulties spanning nearly a decade. By […]
Only N$78.7 Million Claimed from N$365 Million GRN Electricity Subsidy
By: Uaueza Kanguatjivi The Electricity Control Board (ECB) has disbursed only N$78.7 million to electricity distribution license holders from the N$365 million allocated by the government last year. The allocation for the 2024/2025 financial year, effective from 1 July 2024 to 30 June 2025, was intended to provide much-needed relief to electricity consumers […]
Half a Million Individual Clients Have Bank Loans
By: Nghiinomenwa-vali Erastus Of the 706,275 economic participants who borrowed money from commercial banks by the end of last year, around 555,098 are individuals clients. Data analysed from the central bank, however, indicates that some of these individual clients are struggling to service N$3.7 billion of the loans extended to them by the […]