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Loan Holders Likely To Start Feeling Pressure From Repo Rate Hikes
By:Hertha Ekandjo Following the South African Reserve Bank (SARB) announcing an increase of the repo rate by 25 basis points, which brings the repo rate to 7.25% from 7%, Namibians indebted households and businesses should expect the domestic central bank to follow suit. An increase in the repo rate will automatically increase monthly debt repayment, […]
Cumulation Can Stop Africa’s Raw Export Of Resources
By:Nghiinomenwa-vali Erastus To qualify for tariff preferences under the provisions of the African Continental Free Trade Area, value addition has to happen in state parties to a certain extent. This is according to the African Continental Free Trade Area (AfCFTA) Rules of Origin, as summarised by the Secretariat. Simple packaging, assembling, ironing, sorting, peeling, sharpening, […]
Construction Sector Sees Fifth Straight Quarterly Decline
By:Staff writer The construction sector continues to face challenges after it recorded its fifth consecutive quarterly decline in the third quarter of last year, contracting by 10.0% year on year (y/y) in 3Q2022. According to Simonis Storm analysts, construction companies were forced to diversify their business activities due to the scarcity of work available. They […]
Only 2 200 placed of the around 30 000 registered Jobseekers for 2022
By:Nghiinomenwa-vali Erastus Updates from the ministry tasked with employment creation in the country revealed that it has registered around 29,935 in 2022 and only 2,200 of those managed to be placed (got employed). The ministry indicated that in responses to vacancies received from 429 employers, it has referred a total of 4,240 jobseekers but only […]
Unconventional Thoughts: The Flooding, Who is to blame, Engineers, Hydrologists or Town Planners?
By: Gabriel Kandjengo kaMkwaanyoka The last year’s flooding of Wernihil Shopping Mall in the capital city got people questioning Engineers and the mighty city planning, furthermore the yearly flooding of the northern and eastern regions. Someone posted that “engineers should further their studies”. My question is what is the buzz, guys? Zambezi, Kavango, and central […]
FIC Flags Potential Proceeds Of Crimes
By:Nghiinomenwa-vali Erastus The country’s financial watchdog has disseminated 52 intelligence disclosures to various law enforcement agencies between July and September 2022, highlighting potential financial criminal activities in the country’s financial system, encompassingfraud, potential tax evasion, and illegal deposits. The Financial Intelligence Centre (FIC) issued its quarterly report for July-September 2022, which was released in December. […]
Rigorous Scrutiny for Politically Exposed Persons Vying for Bank Boards
By:Nghiinomenwa-vali Erastus The Bank of Namibia (BoN) has directed commercial banks to perform advanced due diligence on politically exposed individuals’ wealth before they appoint them as their board of directors. This, the BoN says, is to limit conflict of interest of the board member’s interest and the bank operations. This is contained in the revamped […]
We Have Plenty of Diamonds and Grapes, but Why Don’t We See and Participate in Diamonds Trading?
By:Kandjengo kaMkwaanyoka Why don’t we see diamonds in the street when we have plenty but every grape harvest everyone benefits? A young dude heard me and he asked if he could join my friend and I. He asked if I am an economist and rightly said no, but a guy who read wildly on economic […]
CRAN To Dishout 800MHz Spectrum To Improve 4G Coverage
By:Nghiinomenwa-vali Erastus A 2022 study by the Communication Authority has revealed that the assignment of 800MHz spectrum to the two national operators – MTC and Telecom Namibia – would help narrow the broadband coverage gap considerably. This finding is in line with CRAN’s plans to implement measures to promote technological innovation and improve quality of […]
NamPower Partners With IPPs To Boost Internal Generation Capacity … IPPs rake in almost a billion in revenuein two years
By:Nghiinomenwa-vali Erastus For the past two years, the country’s power utility NamPowerhas sourced electricity from local Independent Power Producers (IPPs) worth N$920 million. According to updates received by The Villager from NamPower, the power utility has indicated that it has signed 19 power purchasing agreements (PPAs) with local IPPs to enable more local electricity generation […]