Search in the website:
Business / Page 11
Transport Records Highest Inflation Rise Despite Unchanged Fuel Prices
By: Staff Writer Transport costs experienced the sharpest annual inflation increase, rising from -0.1% year-on-year (y/y) in June 2023 to 8.3% y/y in June 2024, according to the Namibia Statistics Agency (NSA). This surge reflects higher expenses associated with the operation of personal transport equipment, notably petrol and diesel, despite stable fuel prices […]
Big Corporations Stifle New Market Entrants
By: Nghiinomenwa-vali Erastus Investigations conducted by the Namibia Competition Commission (NCC) in three separate sectors have revealed that new entrants in the economy are being kept out or driven out of the market by existing companies in an anti-competitive manner. Last week, the Commission exposed coercive behaviour and misuse of dominance by established companies, […]
No SOE Has Submitted 2023/2024 Financial Report
By: Hertha Ekandjo The Ministry of Finance has expressed growing concern as none of the public enterprises have yet submitted their financial reports for the 2023/2024 financial year. According to regulations, public enterprises are required to submit their financial metrics within six months of the end of their financial year, a deadline that […]
Caltex Return To Heighten Fuel Market Competition
By: Nghiinomenwa-vali Erastus The fuel retailing and distribution sector in Namibia is poised for increased competition with the return of the Caltex Retailing Brand under Chevron Corporation. Chevron announced on Tuesday its re-entry into the Namibian Orange Basin after two decades. The statement revealed that the Caltex brand resurfaced after Chevron Corporation’s subsidiary entered […]
BIPA to Engage Stakeholders on Beneficial Ownership Sanctions
By: Justicia Shipena The Business and Intellectual Property Authority (BIPA) has announced plans to consult with stakeholders on various concerns related to beneficial ownership sanctions. This consultation aims to address and clarify issues stakeholders have raised regarding the implementation and impact of these sanctions. The Financial Intelligence Centre (FIC) and BIPA have recently issued […]
Mello Bakery, Rising with Rosamunde
Tiffany Miller In the heart of industrial Windhoek, Mello Bakery hums with activity. The 24-hour operation, which produces thousands of loaves of bread every day, has recently become the place of work for young Rosamunde, a participant in the U.S. government-funded Reach Namibia project. The 23-year-old lives with her mother and siblings in Katutura’s Ombili […]
Shiimi Sets NamRa’s Collection Target at N$85 Billion… taxpayers refunded N$10.4 billion
By: Staff writer The Namibia Revenue Agency (NamRa) has adjusted its revenue collection target from N$81 billion to N$85 billion, as revealed by the agency’s Commissioner, Sam Shivute. Over the last three years since its inception, NamRa’s collection targets have seen significant increases. Shivute acknowledged this shift in targets but expressed confidence in meeting them. […]
Vehicle Sales Soar in March
By: Staff writer March 2024 witnessed the highest vehicle sales since July 2016, with 1,451 units sold last month, just 89 units shy of the 1,540 sold in the same month eight years ago. Out of the 1,451 units sold in March 2024, 1,269 were sold to dealerships, 182 to rental agencies, and […]
China Denies Importing Raw Minerals from Namibia
By: Hertha Ekandjo China’s Industrial and Commercial Bank to Africa has denied claims that the Asian powerhouse has been importing raw minerals from Namibia, leaving the country with little to no tangible benefits for its people. The bank’s Deputy Chief Representative to Africa, Liu Jia, dismissed the claims and clarified that before reaching […]
Trade Minister Calls on Private Sector to Address SME Funding Challenges
By: Dolly Menas Minister of Industrialisation and Trade Lucia Iipumbu has urged the private sector to develop funding mechanisms, especially tailored for Small and Medium Enterprises (SMEs), addressing the challenges they face in accessing finance. Responding to parliamentarian Maximalliant Katjimune’s motion to investigate obstacles surrounding SME financing in Namibia, Iipumbu emphasised the need […]