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NAMCOR Assesses Caltex’s Return to Namibian Market
By: Hertha Ekandjo The National Petroleum Corporation of Namibia (NAMCOR) has acknowledged the return of Caltex to the Namibian market and is currently conducting assessments to understand the particulars of this transition. NAMCOR informed The Villager that Caltex will be operating under the Bachmus umbrella, similar to the model seen with Vivo Energy, […]
Namibia to Honour Eurobond Debt
By: Justicia Shipena The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, announced that Namibia has implemented measures to fulfill its Eurobond obligations. This statement was made during his meeting with representatives from the London Stock Exchange on Thursday. In his address to bankers, analysts, and representatives of the London Stock Exchange, !Gawaxab […]
Construction Sector Implements Mandatory Pension Fund Requirement
By: Hertha Ekandjo The Namibian Building Workers Pension Fund (NBWPF) has enforced the provision of a pension fund for all employees within the construction sector. This new requirement is outlined in a recently signed Collective Agreement between the Construction Industries Federation of Namibia (CIF) and the Metal and Allied Namibian Workers Union (MANWU), which […]
NamPower Receives Major Share of Government Electricity Subsidies
By: Justicia Shipena The Namibia Power Corporation (NamPower) will receive the largest portion of the funds the government has allocated for electricity subsidies. This development follows the Electricity Control Board’s (ECB) cancellation of scheduled electricity tariff increases after the government provided N$365 million to subsidise electricity consumers for the 2024/2025 financial year, effective from […]
No SOE Has Submitted 2023/2024 Financial Report
By: Hertha Ekandjo The Ministry of Finance has expressed growing concern as none of the public enterprises have yet submitted their financial reports for the 2023/2024 financial year. According to regulations, public enterprises are required to submit their financial metrics within six months of the end of their financial year, a deadline that […]
Caltex Return To Heighten Fuel Market Competition
By: Nghiinomenwa-vali Erastus The fuel retailing and distribution sector in Namibia is poised for increased competition with the return of the Caltex Retailing Brand under Chevron Corporation. Chevron announced on Tuesday its re-entry into the Namibian Orange Basin after two decades. The statement revealed that the Caltex brand resurfaced after Chevron Corporation’s subsidiary entered […]
RMB Namibia Arranges N$900 Million Entrepo Loan
By: Justicia Shipena RMB Namibia has arranged and provided a N$900 million debt funding solution for Entrepo Holdings (Pty) Ltd, an enterprise that offers loan solutions to all permanent government employees. This marks one of the largest financial deals of the year, with RMB Namibia successfully acting as the trusted advisor for Entrepo, a […]
Shifeta Calls for Initiatives to Boost Domestic Tourism
By: Ludorf Iyambo Minister of Environment, Forestry, and Tourism, Pohamba Shifeta, has urged stakeholders to join the government in creating more cultural heritage products to expand Namibia’s tourism offerings. This initiative aims to stimulate domestic tourism demand and enhance the guest experience within the country. Earlier this month, The Villager reported a decline in […]
BIPA to Engage Stakeholders on Beneficial Ownership Sanctions
By: Justicia Shipena The Business and Intellectual Property Authority (BIPA) has announced plans to consult with stakeholders on various concerns related to beneficial ownership sanctions. This consultation aims to address and clarify issues stakeholders have raised regarding the implementation and impact of these sanctions. The Financial Intelligence Centre (FIC) and BIPA have recently issued […]
Ohangwena’s N$250 Million Aquifer to Boost Northern Water Supply
By: Nghiinomenwa-vali Erastus and Hertha Ekandjo The government will allocate N$250 million from the N$3.3 billion (including N$1.8 billion in loans) set aside for water infrastructure to develop the Ohangwena Aquifer, making it the second primary source of bulk water in the Central Northern Water Supply Area. This was announced by Agriculture Minister Carl […]