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News / Page 17
Namibia’s Food Records Trade Surplus
By: Staff writer Namibia recorded a trade surplus of N$264 million on food items after exporting N$1.7 billion worth of food, excluding live animals, while importing N$1.4 billion of the same. The trade surplus was attributed to fish exports which stood at N$1.3 billion, which was mostly exported to Spain, Zambia and Italy. Fish was […]
N$62 Million Spent on Maerua Mall Expansion Project
By: Uaueza Kanguatjivi Oryx Properties has spent N$62.3 million on its Maerua Mall development project thus far, following N$38 million capital expenditure on the project during the six months between 1 July and 31 December 2024. The property firm has also made N$7 million in capital commitments towards the first phase of the Maerua Mall […]
Namdia Mum on Diamond Recovery Details
By: Justicia Shipena Namibia Desert Diamond (Namdia) says it cannot disclose where N$40.6 million worth of stolen diamonds were recovered as part of ongoing investigations. The SOE revealed on Thursday that it had recovered some of the N$314.9 million worth of diamonds that were stolen from its premises in January. “That is part of the […]
Utoni Nujoma Praises Father’s Vision on Inga Dam Deal for Namibia
By: Justicia Shipena Late Founding President Sam Nujoma’s son Utoni Nujoma has praised his father for championing national projects, particularly those involving water, such as the Inga Dam project, in which Namibia was initially involved. The billion-dollar Inga Dam project was designed to address the growing power deficit in the Southern African Development Community (SADC). […]
Illegal Fencing Shrinks Grazing Land in Kavango West
By: Annakleta Haikera Farmers and residents of Kavango West are urging the communal land board to take swift action against the rising trend of illegal fencing on communal land, which is severely limiting livestock grazing areas. This growing issue is impacting communities in Gava, Zigizi, Nkasima, and Nepara, with some roads even being blocked […]
GIPF Says It Will Protect Its Assets After Court Loss
By: Uaueza Kanguatjivi The Government Institutions Pension Fund (GIPF) says it remains resolute in protecting its investments and assets and maintaining public transparency. This comes after the High Court last week dismissed the Fund’s urgent application to prevent fund managers Myrtle from selling or liquidating shares it invested over N$400 million of pensioner’s money in. […]
Namibia Running Out of Time on Beneficial Ownership Filing
By: Nghiinomenwa-vali Erastus Namibia’s bid to exit the Financial Action Task Force’s (FATF) greylist is at risk due to delays in implementing beneficial ownership regulations, despite progress on other compliance issues. The country has made strides in addressing 13 issues flagged by the FATF, but the lack of beneficial ownership filings remains […]
Court Favors Myrtle in N$450 Million GIPF Shares Dispute
By: Uaueza Kanguatjivi Myrtle Growth Capital has won a court battle in which the Government Institutions Pension Fund (GIPF) filed an urgent application to stop it selling or liquidating shares worth N$450 million held by the Namibia Mid-Cap Fund (NMCF). The High Court dismissed GIPF’s urgent application to block the sale, ordering GIPF […]
Slow Growth of Capricorn’s Loan Book Sparks Concerns Over Future Earnings
By: Staff writer The Capricorn Group’s slow growth of its loan book is raising doubts about its ability to maintain strong earnings, as rising costs and potential margin pressures add to the challenges. The Group’s gross loans and advances increased by N$1.18 billion since 30 June 2024, reaching N$51.8 billion. This growth was […]
Namibians to Feel Pinch of Proposed 2% VAT Increase in South Africa
By: Loise Shiimi Namibian economists warn that a proposed 2% increase in South Africa’s value-added tax (VAT) could have a significant impact on Namibian consumers, as the hike contributes to rising costs of goods and inflation. South Africa’s Finance Minister, Enoch Godongwana, recently postponed the tabling of the national budget to 12 March […]