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Banks’ Frugality Depends On Economic Outlook
By:Nghiinomenwa-vali Erastus The commercial banks have loaned out N$1,6 billion to resident businesses and N$2,9 billion to households by the end of 2022 compared to December 2021. According to the December 2022 monetary and financial statistics released by the Bank of Namibia end of January 2023. This is amid risk aversion in commercial lending from […]
SMEs Between Devil And Deep Sea
By:Josef Kefas Sheehama Small and medium-sized enterprises (SMEs) are the engine of worldwide economies and the main source of job creation. The contribution of the SME sector to the Gross Domestic Product (GDP) is between 12% to 20% and the share of the labour force employed full-time in this sector is about 20%, a rough […]
Hyphen Hydrogen Energy Signs Two Ammonia Offtake MoUs
By:Staff writer Hyphen Hydrogen Energy has signed non-binding memorandums of understanding (MoUs) with two major industrial companies for the supply of up to 750 000 t/y of green ammonia. The company announced early this month. The agreements are with a major chemical company and Approtium, a South Korean hydrogen producer, and entail offtake of up […]
Schlettwein Calls Meatco Backlash “Racist”
By:Staff Writer Minister of agriculture, water and land reform, Calle Schlettwein has expressed disappointment in some comments on the Meatco debate he initiated last week. This comes after some members of the public linked Schlettwein’s utterances to an alleged agenda aimed at killing Meatco in a bid to advance the interests of privately owned abattoirs. […]
Governor Links Rundu Urbanisation To School Infrastructure Shortage
By:Annakleta Haikera The rapid increase of urban migration has led to a population explosion in Rundu in the Kavango East over the years, the governor Bonifatius Wakudumo said last week. The town’s population has reached a total of 105785, which means over 64% of all residents of the Kavango East region reside in Rundu. The […]
Twin Hills Definitive Feasibility Study Progressing – Osino
By Staff writer According to Osino Resources’ latest updates, the company is progressing with developing a definitive feasibility study (DFS) for its Twin Hills gold project near Karibib. Furthermore, the company is conducting trade-off studies and assessing risks and opportunities for infrastructure enhancement, water, and power supply in particular. An existing preliminary feasibility study for […]
City Councilors Tell Utoni It Can Function Without Complete MC
By:Justicia Shipena Five councillors of the City of Windhoek council say they will assess the prospects of participating in electoral activities as this is not their priority mandate. The five councilors are Affirmative Repositioning (AR) councilors Job Amupanda and IIse Keister, Landless Peoples Movement’s (LPM) Sade Gawanas and Ivan Skrywer as well as Popuar Democratic […]
Public Sector Workforce Stands At 107K – PSC …more male workers recommended for study leave
By :Justicia Shipena The number of public servants stands at approximately 71 305, according to the Public Service Commission’s (PSC) latest statistics. The statistics were contained in the annual report for the financial year 2021/22 unveiled by the PSC chairperson Salmaan Jacobs in the capital last Wednesday Jacobs said the figure excludes those in […]
Tax Authority Amendments Aimed At Tackling Base Erosion And Transfer Pricing
Nghiinomenwa-vali Erastus In calculating how much tax a company pays, the tax authority has adopted new rules to limit companies’ interest payments to foreign-owned parents outside Namibia if their debt is three times more than their equity. This is according to the Income Tax Act’s recent amendments which were gazetted at the end of December […]
Trigon Extends Kombat Copper King, by acquiring EPL 8529
By:Staff writer Trigon Metals has entered into a definitive agreement to expand its land holding in Namibia, through the acquisition of exclusive prospecting licence 8529, the company announced on Monday. EPL 8529 is currently held by a Namibian company, Otjiwa Mining, and Prospecting CC and is valid for three years from November 9, 2022 to […]