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Namibia / Page 20
Namibia’s Exports Decline While Imports Surge
By: Kavee Vezemburuka Namibia’s export revenue for October 2024 declined by 3.8%, falling to N$8.7 billion from the N$9.0 billion recorded in September, as detailed in the Namibia Statistics Agency’s latest Merchandise Trade Statistics Bulletin. On the other hand, the country’s import bill increased by 11.5% to reach N$16.5 billion, up from N$14.8 […]
Observer Missions Recommends Improvements in Namibian Elections
By: Dwight Links Four African observer missions delivered their preliminary statements in Windhoek on 29 November regarding the Presidential and National Assembly elections that occurred across the country. While extended voting took place on Friday and Saturday, 29 and 30 November, as per President Nangolo Mbumba’s proclamation on Thursday, the observer missions forged ahead […]
Trump Threatens BRICS With Tariffs Over De-Dollarisation
By: Dolly Menas US President-elect Donald Trump has threatened to impose 100% tariffs to BRICS countries as well as bar them from selling into the US economy should they move ahead with plans to establish a BRICS currency. “The idea that the BRICS countries are trying to move away from the dollar while […]
Banking Sector Liquidity Rises to N$6.7 Billion
By: Staff writer The overall liquidity level for the banking sector in Namibia grew by N$800 million in two months after averaging N$6.7 billion in October 2024 from the N$5.9 billion recorded in September 2024. The Bank of Namibia attributed the rise in market cash balances primarily to cash inflows from coupon […]
Choppies Fined N$2,2 Million for Backdoor Acquisition of Supermarket
By: Nghiinomewa-vali Erastus The Namibia Competition Commission has fined Choppies Retailer N$2.2 million for acquiring Grootfontein Supermarket and Grootfontein Bottle Store without notifying the regulator. Choppies was fined after the Commission’s investigation found that they contravened Section 44 read with Sections 51 and 53 of the Competition Act. According to NaCC, Choppies and […]
Cabinet Approves Local Content Policy for Petroleum Sector
By: Dolly Menas Cabinet has approved the National Upstream Petroleum Local Content Policy. The policy aims to promote economic sovereignty and reduce Namibia’s dependency on foreign expertise and build its local capacity. Cabinet has also mandated the Minister of Mines and Energy to share the policy with industry players and stakeholders in all […]
946 GIPF Beneficiaries Owing NamRA Excluded from Refunds
By: Justicia Shipena The Government Institutions Pension Fund (GIPF) says approximately 946 beneficiaries with outstanding tax obligations to the Namibia Revenue Agency (NamRA) will not receive refunds unless the revenue agency provides updated tax directives. This follows an announcement that GIPF will disburse over N$118 million in tax refunds to 24,173 qualifying beneficiaries […]
BoN Enhances Tools to Monitor Non-Performing Loans
By: Staff Writer The Bank of Namibia (BoN) has introduced advanced supervisory measures to strengthen the stability and resilience of the banking sector. Guided by the Basel Core Principles, the updated Early Warning System (EWS) and Prompt Corrective Action (PCA) frameworks are designed to proactively identify and address risks before they escalate. One key […]
Namibians to Elect Fifth President and 8th National Assembly… as head of state calls for peaceful election
By: Justicia Shipena and Kavee Vezemburuka Today, Namibians are casting their votes in a pivotal election to choose the country’s fifth President and members of the eighth National Assembly. Over 1.4 million registered voters are expected to participate in what President Nangolo Mbumba has described as a “patriotic contribution to the consolidation of […]
Minister Urges Small Businesses to Expand and Capitalise on the AfCFTA
By: David Shoombe Minister of Industrialisation and Trade, Lucia Iipumbu, has called on local entrepreneurs to expand their businesses and seize opportunities within the African Continental Free Trade Area (AfCFTA). Speaking at the handover ceremony of the Equipment Aid Scheme (EAS) to business owners from the Khomas, Otjozondjupa, and Omaheke regions on Monday, […]