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Namibia / Page 173
Debmarine diamond “theft” saga reaches PG Office
Staff writer Mines minister Tom Alweendo has said that he has opened a criminal case with the police in connection with a report that a billion-dollar worth of Namibian diamonds were stolen on a Debmarine vessel. The diamond theft saga came to light after an ex-employee blew the whistle and brought the matter to the […]
Trustco, BON Clash Commences In High Court
By:Eba Kandovazu The Bank of Namibia BoN) will have to explain itself to the Windhoek High Court why it failed to deliver the review record which was due to be done on 17 October. The central bank also did not oppose Trustco Bank Namibi’s (TBN) application to review some directives and decisions issued by the […]
Lawmaker Accuses Chinese Company With Cheating …… as mines ministry faces a barrage of questions from lawmakers
By:Megameno Shinana A parliamentary standing committee on economics meeting with the mines minister Tom Alweendo and his team ended on a heated note yesterday afternoon. The discussions focused on the management of Namibia’s mineral resources while huge Lithium exports to China also took centre stage. The issue of XinFeng Investments’ exportation of 55% Lithium ore […]
Ndama residents choose between cooking, drinking or bathing
Annakleta Haikera Some residents in Ndama informal settlements of Rundu in Kavango East say they are tired of having no access to water. They also blame the Rundu town council for not providing them with development in their communities, stating they sometimes go thirsty for three or four days and are forced to pay N$5.00 […]
DBN Offers Struggling Businesses Safety Net
By:Nghiinomenwa-vali Erastus Various businesses that owe the Development of Bank of Namibia (DBN) and have been struggling to repay their debts have now an option to exchange some of their debt for equity to the bank for a certain period. However, this only applies to those businesses that show positive prospects and the probability of […]
Tourism Board Faces ALiquidity Risk …as it incurred a deficit of N$19 million
By:Justicia Shipena Entrusted with implementing the national policy on tourism the country, the Namibia Tourism Board (NTB) now faces a liquidity risk. This was revealed in the latest NTB’s audit report released by auditor general Junias Kandjeke. The audit was conducted for the 2020/21 financial year. “The board is exposed to liquidity risk, which is […]
DBN Offers Struggling Businesses Safety Net
By:Nghiinomenwa-vali Erastus Various businesses that owe the Development of Bank of Namibia (DBN) and have been struggling to repay their debts have now an option to exchange some of their debt for equity to the bank for a certain period. However, this only applies to those businesses that show positive prospects and the probability of […]
Canadian Mining Firm Acquires Interest in Mining and Prospecting Licences
By:Staff writer Canadian-based mining firm Madison Metals has acquired 90% direct interest in Mining Licence 86A (ML86A) and Exclusive Prospecting Licence 8905 (EPL-8905) with 10% free carry in favour of the vendor (the “Transaction”). ML86A and EPL-8905 together share a land package of 7.86 square kilometres located approximately 51 km east-northeast of Swakopmund and southwest […]
Mayor Lying About CEO Appointment, Says IPC Windhoek Councillor
By:Hertha Ekandjo Independent Patriots for Change (IPC) councillor Bernardus Araeb has accused City of Windhoek mayor Sade Gawanas of not being honest about investigations into Conrad Lutombi’s appointment as the city’s chief executive officer(CEO). Confirmation of Lutombi’s appointment has been delayed by urban and rural development minister Erastus Uutoni until an investigation into claims that […]
Local Insurance Companies Pay Out Billions in Life Insurance Claims
By:Justicia Shipena Between the first quarter of 2020 and the first quarter of 2022 local insurance companies have paid out over N$20 billion in claims from life insurance policies. This is according to economists at Simonis Storms on vehicle sales for the month of October. According to the report, the billions paid in life insurance […]