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Education scoops 28.9% of the national budget, with around 81% marked salaries
By:Nghiinomenwa-vali Erastus The country’s Finance Minister Iipumbu Shiimi has joined the public in demanding more from the education facilitators. Shiimi’swas made when he delivered his 2022/23 Budget Statement in Parliament on 24 February 2022. Despite the unsatisfactory performance coming from the education facilitators, he still made sure they got 28.9% of the national budget. He, […]
Tourism Sectors Best Performer Among Other Sectors
By:Hertha Ekandjo Among other sectors, the tourism sector could arguably be one of the best-performing sectors of the Namibian economy in 2023. While business and conference tourism is still below 2019 levels, this could materially increase as certain hospitality establishments already indicate that pilot, as well as the government’s green hydrogen projects, have increased […]
Namibia Recorded N$34 Billion In Money Wallets In 2022
By:Uakutura Kambaekua Bank of Namibia governor Johannes !Gawaxab has urged citizens to explore the constant innovation in the payment eco-system of electronic money. He stated that the country has 2.5 million active wallets with 64 million transactions with over N$34 billion in 2022. “So the e-wallet has grown exponentially,” !Gawaxab revealed, saying the figure stood […]
Register Biometrically Or Forget Payout And Annuities- GIPF
By:Nghiinomenwa-vali Erastus Pensioners, beneficiaries, and other annuitants who have not provided their unique biological or physical characteristics for the purpose of identification will not receive their payouts or annuities for March 2023. This has been announced by the Government Institutions Pension Fund (GIPF)’s General Manager for Marketing and Stakeholders Engagement, Edwin Tjiramba, yesterday. Biological measurements […]
Daikon Investments Acquires Namibia Plastics And Packaging Distributors
By:Staff Writer Daikon Investments (Pty) Ltd has obtained a 55.2% controlling share of Namibia Plastics & Packaging Distributors (Pty) Ltd from Johan Struwig, Co-Founder and CEO of Namibia Plastics. The closing for the transfer of shares held in Namibia Plastics to Daikon was completed on 30 January 2023 following the Namibian Competition Commission’s approval of […]
CIF Boss Appeals For The Revival Of Construction Sector
By:Nghiinomenwa-vali Erastus There are economic gains if politicians, government authority and procurement experts can reach consensus to assist the local construction sector, says Bärbel Kirchner, chief executive officer of the Construction Industries Federation of Namibia (CIF). Kirchner’s appealscomes at the time the construction sector declined for the fifth consecutive quarter, registering a contraction of 10%t […]
Namibia Races To Amend Nine Laws As Deadline Looms …. to close money laundering and proliferation financing loopholes
By:Nghiinomenwa-vali Erastus To avoid grey-listing and its negative impacts, government has adopted a strategy to rectify some of its regulatory weaknesses. These are in Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation. Following the review facilitated by the Financial Action Task Force (FATF), the country’s financial system’s regulatory weakness has been found to […]
Go On Forced Diet, And Resort To Alternative Energy Sources- Inflation Monster
By:Nghiinomenwa-vali Erastus Contrary to the central bank’s theoretical motives to contain inflation by increasing the cost of money (repo rate), the prices of goods in the domestic market have either been increasing or steady. The last time annual inflation has been below 6% was March 2022, and for January 2023, average prices of goods have […]
SA Load Shedding To Limit Car Sales In Nam
By:Justicia Shipena The load shedding in South Africa is said to limit vehicle sales in Namibia, a vehicle sales analysis for January 2023 has shown. Despite this, the country has seen an increase in vehicle sales for the month, making it the best January since 2019, according to research firm, Simonis Storm. “Loadshedding in South […]
Innovation in finance is vital for future economic growth
By:Jerome Mutumba As the economy evolves and as new needs become apparent, it is vital that enterprise and infrastructure finance evolves as well. If not for this evolution, the economy will begin to lag, in terms of providing an enabling environment for economic activity, solving issues, and in terms of national competitiveness on the regional […]