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N$62 Million Spent on Maerua Mall Expansion Project
By: Uaueza Kanguatjivi Oryx Properties has spent N$62.3 million on its Maerua Mall development project thus far, following N$38 million capital expenditure on the project during the six months between 1 July and 31 December 2024. The property firm has also made N$7 million in capital commitments towards the first phase of the Maerua Mall […]
Namdia Mum on Diamond Recovery Details
By: Justicia Shipena Namibia Desert Diamond (Namdia) says it cannot disclose where N$40.6 million worth of stolen diamonds were recovered as part of ongoing investigations. The SOE revealed on Thursday that it had recovered some of the N$314.9 million worth of diamonds that were stolen from its premises in January. “That is part of the […]
GIPF Says It Will Protect Its Assets After Court Loss
By: Uaueza Kanguatjivi The Government Institutions Pension Fund (GIPF) says it remains resolute in protecting its investments and assets and maintaining public transparency. This comes after the High Court last week dismissed the Fund’s urgent application to prevent fund managers Myrtle from selling or liquidating shares it invested over N$400 million of pensioner’s money in. […]
Namibia Running Out of Time on Beneficial Ownership Filing
By: Nghiinomenwa-vali Erastus Namibia’s bid to exit the Financial Action Task Force’s (FATF) greylist is at risk due to delays in implementing beneficial ownership regulations, despite progress on other compliance issues. The country has made strides in addressing 13 issues flagged by the FATF, but the lack of beneficial ownership filings remains […]
Slow Growth of Capricorn’s Loan Book Sparks Concerns Over Future Earnings
By: Staff writer The Capricorn Group’s slow growth of its loan book is raising doubts about its ability to maintain strong earnings, as rising costs and potential margin pressures add to the challenges. The Group’s gross loans and advances increased by N$1.18 billion since 30 June 2024, reaching N$51.8 billion. This growth was […]
Non-Performing Loans Threaten Banks’ Stability
By: Justicia Shipena Economists are warning that the growing volume of non-performing loans (NPLs) in Namibia could destabilise the financial sector and jeopardise banks’ balance sheets. An increasing number of Namibians are defaulting on loans due to affordability challenges, with experts attributing the trend to prolonged economic difficulties spanning nearly a decade. By […]
Windhoek Beer Returns to Kenyan Markets
By: Dolly Menas The Namibia Breweries Limited (NBL) will once again expand into the Kenyan market, in a move aimed at broadening its market reach and growing its products on international markets. This marks the third attempt NBL has established the presence of its brand in the Kenyan market after making its […]
Nam Urged to Extend Visa-Exemption To Entrepreneurs
By: Dolly Menas, David Shoombe Local business analysts have urged the recently announced agreement for mutual visa exemption between Namibia and China to expand beyond diplomats. Currently, the agreement is only for diplomatic passport holders and service officials between the two countries. The move has been welcomed, considering the Asian country remains Namibia’s largest […]
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 […]
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). […]