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Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark. This increase, from N$89.0 billion in the current financial year, signals an intention to allocate […]
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 […]
NAMDIA Commits N$500k to Cleft Palate Reconstruction Program
By: Hertha Ekandjo Over the past three years, the Namdia Foundation has dedicated half a million Namibian dollars to support a Cleft Palate Reconstruction program aimed at assisting Namibian children in need of corrective surgery. In a continuation of their support, the Namdia Foundation recently donated N$250,000 for the second time since 2022 to […]
Health Ministry Appreciates Ohorongo’s Generous Donations
By: Hertha Ekandjo The Ministry of Health and Social Services has received a generous donation of medical supplies and other equipment valued at about N$4 million. The donation was made by Ohorongo Cement with the support of the German-based charity organisation Support ULM e.V. Receiving the donation was Deputy Minister of Health, […]
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 […]