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Govt To Borrow N$3.2 Billion in Five Months
By: Nghiinomenwa-vali Erastus The government plans to borrow N$3.2 billion from institutional and individual investors between October 2023 and March 31, 2024, to address a widened budget deficit and fulfil outstanding obligations. The borrowing will occur domestically through bonds and treasury bills auctions facilitated by the central bank, as outlined in the updated 2023/24 Borrowing […]
Short-Term Employment Permits Now Available at Various Border Posts
By: Nghiinomenwa-vali Erastus Various points of entry into Namibia have received authorisation to start issuing Short-Term Employment Permit endorsements without sending travellers to the headquarters in Windhoek. This was revealed by the Ministry of Labour, Industrial Relation, and Employment Creation in its quarterly report from June to September 2023. Effective June 2, 2023, selected border […]
Either We Innovate Like Thieves Or Continue Being Bullied
By: Kandjengo kaMkwaanyoka Observing the descent of the Hercules Oil Rig into our waters to assess offshore wells triggers a cascade of thoughts within me. In this context, I would like to discuss how criminals and fraudsters have elevated their tactics to sustain their illicit economic activities more affectively at the expense of the entire […]
Plan in Motion to Address Namcor Governance Issues
By: Nghinomenwa-vali Erastus Namcor’s board of directors and management has admitted that the company’s weak risk management and governance loopholes were to blame for its inability to pay creditors. Acting Managing Director Shiwana Ndeunyema and Board Chairperson Jennifer Comalie briefed the media on the company’s recent challenges yesterday. At that event, the two promised that […]
The Realised, Perceived, and Expected Inflation in Namibia and Globally
By: Josef Kefas Sheehama Expectations about future inflation play a crucial role in influencing current decisions on consumption and investment. Therefore, the long-term relationship between household savings and anticipated inflation is evident from the cointegration test. Despite some moderation in fuel costs, inflation remained uncomfortably rapid in Namibia, with an annual rate of 6% in […]
2023 Records N$400 Million Drop in Approved Building Plans
By: Staff Writer The cumulative value of approved building plans between January and October this year has seen a decline of N$400 million compared to the same period last year, according to an analysis by Simonis Storm Securities (SSS). So far in 2023, 1,804 building plans with a total value of N$1.6 billion have been […]
Rundu Launches Clean Up Campaign to Boost Tourism
By: Annakleta Haikera We Care Charity Foundation, in partnership with Rundu Town Council, NASA, and Ngato Vocational Training Centre, initiated a town cleaning campaign in Rundu, Kavango East region, on Thursday. Community members actively participated in the cleaning campaign, targeting areas prone to littering by residents, including Rundu Town Council, Tutungeni, Donkerhoek, and Rundu Sports […]
Daures GH2 Seeks Investment For Ammonia Fertiliser Production
By: Justicia Shipena The Daures Green Hydrogen Village (DGHV) Consortium is currently seeking funds to produce ammonia sulphate fertiliser, a project not initially covered by the German government’s initial investment. This was revealed by the project’s Chief executive Officer, Jerome Namaseb, saying while the production of ammonia sulphate fertiliser was not covered by the German […]
Namibia Ranks 9th in Africa for Innovation … Globally at 96th Position
By: Loise Shiimi Namibia has been ranked in the ninth spot as the most innovative economy in Africa. This is according to the latest World Intellectual Property Organisation’s (WIPO) Global Innovation Index (GII) report. Mauritius clinched the top position, followed by South Africa, Morocco, Tunisia, Botswana, Egypt, Cape Verde, Senegal, and then Namibia. WIPO, a […]
Uranium Surge: FNB Anticipates Mining to Drive Economic Expansion
By: Justicia Shipena FNB Namibia’s economist, Ruusa Nandago, believes that mining activities will continue to be a pivotal factor in propelling economic growth. The primary catalyst for mining growth, particularly in the year 2024, is predicted to be uranium, buoyed by a favourable uranium price environment. The anticipated resurgence of the Langer Heinrich Uranium mine, […]