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Namibia / Page 52
Govt To Pay Back N$2.3 Billion In GC24 Redemption
By: Nghiinomenwa-vali Erastus Depending on the outcomes of the lined-up switch auctions in the next six months, the government would need to repay the N$2.3 billion borrowed through the GC24 internal registered bond over the years. Data from the Bank of Namibia, which borrows on behalf of the government, indicates that the […]
China’s Yintai Gold Acquires Osino Resources for N$5.2 Billion
By: Staff Writer Chinese mining company Yintai Gold has emerged as the foreign entity that persuaded Osino Resources to abandon Dundee Precious Metals’ N$4 billion takeover offer in favour of its superior N$5.2 billion cash acquisition. Yintai Gold’s acquisition marks another significant Chinese presence in Namibia’s natural resources sector, joining Beifang at […]
Trade Union Eyes Promised Salary Hikes in 2024 Budget
By: Justicia Shipena The Trade Union Congress of Namibia (Tucna) Secretary General, Mahongora Kavihuha, is hopeful that the 2024 national budget will honour the promised salary increments for civil servants. In November last year, the Namibia Public Workers Union (Napwu) announced a monthly salary increase of N$600 for employees in grades 15 and 14, […]
SOEs Have Turned into Financial Parasites – Baumann
By: Justicia Shipena As the National Assembly awaits the tabling of the 2024/2025 national budget today, human rights activist Linda Baumann has criticised the operations of the state-owned enterprises (SOEs) arguing that the entities have now morphed into financial parasites draining the government’s resources. Finance Minister Iipumbu Shiimi is poised to present the […]
Katjimune Calls for Probe into SME Financing Challenges
By: Dolly Menas Lawmaker Maximalliant Katjimune has called upon parliament to launch an investigation into the obstacles surrounding Small and Medium Enterprise (SME) financing in Namibia. Katjimune contends that such an inquiry is essential to enhance access to funding and unlock the economic potential of the sector. SMEs constitute a crucial component of […]
Potato Farm Training for Small-Scale Farmers as Country Battles Imports
By: Loise Shiimi With Namibia importing 65% of its potatoes from South Africa, valued at N$538 million annually, the Namibian Agronomic Board (NAB), in collaboration with the National Association of Horticulture Producers (NAHOP), is conducting free training sessions for small-scale farmers. These training sessions have already covered various towns across Namibia, including Gobabis, […]
Demand for Otjomuise Plots Surges … but outlook for construction sector remains gloomy
By: Staff Writer Otjomuise has emerged as a hotspot for construction activity, recording the highest value of approved house plans by the City of Windhoek for January 2024, totaling N$18.2 million. Financial analysts at Simonis Storm Securities attribute this surge in approved building plans in Otjomuise, particularly in the extension five area, to […]
Grey-listing Could Negatively Affect Namibia’s GDP by 6%
By: Staff writer Namibia’s recent grey-listing by the anti-money laundering watchdog Financial Action Task Force (FATF) could have a detrimental impact on the country’s Gross Domestic Product (GDP) by up to 6%. The grey-listing occurred on Friday following a review last week, prompted by Namibia’s failure to implement all 72 recommended actions […]
World Leaders Bid Farewell to Statesman Geingob
By: Justicia Shipena Numerous global leaders gathered at the Independence Stadium in Windhoek over the weekend to pay their final respects and bid farewell to departed Namibian President Hage Geingob before he was buried on Sunday at Heroes Acre. The memorial service held on Saturday, was attended by representatives from 27 countries including […]
Late President Geingob Laid to Rest … former Presidents urge nation to emulate Geingob
By: Nghiinomenwa-vali Erastus President Hage Geingob, who passed away after a brief battle with cancer, was laid to rest at Heroes Acre on Sunday. The funeral drew thousands of mourners, including 25 heads of state and former presidents. As a mark of respect for his service, Geingob received a 21-gun salute from the […]