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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 […]
Oil Not Accounted for Economic Growth in 2025
By: Justicia Shipena Oil exploration will not contribute to Namibia’s economic growth this year, according to the Bank of Namibia (BoN). Central Governor Johannes !Gawaxab emphasised the uncertainty surrounding oil exploration, stating that while significant investments are being made, the associated risks remain high. “We have not accounted for oil exploration to […]
Entrepreneurs Call for Female Financial Inclusivity
By: Uaueza Kanguatjivi Female entrepreneurs are calling for systemic transformation to ensure that women and marginalised groups gain greater access to economic opportunities. Despite 79.8% of eligible women now being financially included, surpassing the 76.1% of men, investment opportunities remain largely untapped, particularly for women entrepreneurs. Business mentor Twapewa Kadhikwa emphasised the importance […]
Namibia Expected to Cut Repo Rate
By: Justicia Shipena The Bank of Namibia (BoN) is expected to cut the by 25 basis points on today, bringing it down to 6.75%, with the prime lending rate shifting to 10.5%. In its last meeting, the Monetary Policy Committee (MPC) unanimously decided to lower the policy rate by 25 basis points to […]
Value Addition: Turning Mushrooms into Biscuits, Tea, and Soup
By: Mathias Hangala Value addition has been at the forefront of discussions surrounding policy and economic growth in recent years. Abner Tomas, who hails from Oniipa in the Oshikoto region, transformed his passion for farming and mushrooms into a niche business by producing biscuits, tea, and soup through his enterprise, Ndaka Mushrooms (NM). […]
GIPF Fights to Halt Sale of Shares in N$450 Million Trust
By: Uaueza Kanguatjivi The Government Institutions Pension Fund (GIPF) has approached the courts to prevent private equity and fund management company Myrtle Growth Capital from selling shares in the Namibia Mid-Cap Fund Trust, a fund to which GIPF committed N$450 million. Myrtle Growth is accused of attempting to sell shares in several portfolio companies […]
No Inside Jobs in FNB Fraud Saga, Says Bank
By: Dwight Links The First National Bank Namibia (FNB) has stated that there is no evidence suggesting its employees were complicit in recent fraud and scam incidents that have made headlines. Two FNB clients recently fell victim to sophisticated scams, losing substantial sums of money. Among them was a retired teacher who was […]
Namibia Courts Nigeria Over Oil & Gas Collaboration
By: David Shoombe Namibia is seeking to collaborate with Nigeria in its oil and gas sector, exploring potential partnerships in exploration, production, and refining. This was revealed by the chairperson of the Nigerian delegation during the fifth session of the Namibia-Nigeria Joint Permanent Commission of Cooperation held this week. The meeting aims to […]
N$150,000 From Geingob Cup to Support Presidential Centre Setup
By: Justicia Shipena Former First Lady Monica Geingos has announced that N$150,000 from the proceeds of the Dr. Hage Geingob Cup will be allocated to cover initial costs and infrastructure preparations for the establishment of a presidential centre in honour of the late President Hage Geingob. The announcement was made on Tuesday as […]