By:Justicia Shipena The Bank of Namibia (BoN) says Namibia’s banking system remains resilient and sound. This assurance comes after a second US regional bank Signature Bank shut down. A third First Republic Bank has been propped up, while the first major threat since 2008 to a bank of global financial significance Credit Suisse has been […]

By:Hertha Ekandjo The Namibia Revenue Agency (NamRA) is currently in possession of approximately N$3 million worth of confiscated goods that are being kept at a warehouse in Windhoek. The goods have been confiscated through different entry points by customs. The agency says most of the time it confiscates goods, it is due to a lack […]

By:Justicia Shipena The constant increases of the repo rate during 2022 drove Standard Bank Namibia to record a massive increase in its profit. The bank’s profit for 2022 increased by 70.5%, according to the bank’s annual report for 2022 released on Wednesday. Chairman H Maier said the profit spiked from N$366 million in 2021 to […]

Executive of Marketing Jerome Mutumba has announced three new enterprises that used Bank finance to strengthen their enterprises with solar energy. They include a truck and tractor repair plant in Gobabis, a charcoal manufacturer, also near Gobabis, and a large retail outlet in Okahandja. Says Mutumba, although DBN is associated with photovoltaic parks, larger solar […]

Corporate and institutional banking is essential to a country’s ecosystem and development, says Lukas Nanyemba, Bank Windhoek’s Executive Officer of Corporate and Institutional Banking. “Nature underpins our economy, society, and indeed our existence. In natural habitats, animals, plants, and microbes are known to be excellent engineers. After many years of research and development, we have […]

By:Nghiinomenwa-vali Erastus The Namibian Chamber of Commerce and Industry says it will be of economic benefit if the Finance Ministry waives the penalties and interest owed by the business sector. The chamber’s Chief Executive Officer Charity Mwiya made the suggestion during an Integrated Tax Administration System (ITAS)training organised for Micro-, Small and Medium-sized Enterprises (MSMEs) […]

By:Mauricia Koopman Prime Minister Saara Kuugongelwa-Amadhila says for the economy to thrive and optimise its contribution to job creation, financing is crucial. Kuugongelwa-Amadhila was speaking at the Standard Bank African Central Bank conference which recently concluded in Johannesburg, South Africa. She stated that the limited access to financial products and services is a key constraint […]

By:Daniel Ndumba Minister of Finance Iipumbu Shiimi says all the increases in grants recently announced by government will cost N$850 million. The Food Bank grant, which was recently converted to a cash grant, has gone up from N$500 to N$600, the disability grant for under-18s took the biggest leap, from a monthly N$250 to N$1,300, […]

By:Staff writer Vehicle sales have seen the highest level since March 2022 after 1,103 units were sold in February after a weak start in 2023. In comparison, with 883 units sold in February 2022, this indicates a 24.9% year-on-year increase. “On a monthly basis, units sold in February are 36.3% higher than sales in January […]

By:Justicia Shipena Popular Democratic Movement (PDM) member of parliament Inna Hengari has called on President Hage Geingob to declare a state of emergency on the youth unemployment crisis during his State of Nation Address (SONA). Youth unemployment in the country, according to Hengari, stands at 33.4% In July last year, the National Assembly agreed to […]