Author: Nghiinomenwa-vali Erastus
280 Positions Open at Agri Ministry
By: Nghiinomwena Erastus The Ministry of Agriculture, Water and Land Reform will advertise 110 vacancies tomorrow as part of its strategy to fill 280 vacancies. These positions are part of the approved positions to be filled during this financial…
Govt to Borrow N$15.3 Billion This Year
By: Nghiinomenwa-vali Erastus The government wants to borrow up to N$15.3 billion from various financiers, including individuals, institutions, and others, to meet its budgetary commitments and repay maturing debts during the current financial year. This 2024/25 financing need represents…
Intercompany Loans and High Interest Drives External Borrowing
By: Nghiinomenwa-vali Erastus The surge in external borrowing by local companies, especially those in the mining companies, has been driven by their access to capital from their parent companies and to evade domestic higher interest rates. This was the…
Only 18% of White Maize Demand Can Be Met Locally
By: Nghiinomenwa-vali Erastus Projections from the Namibia Agronomic Board (NAB) indicate that local white maize production will only reach 32,394 tons for the 2023/24 harvesting year, while the country’s demand stands at 180,000 tons. This shortfall underscores the risks…
N$451 Million Pharmaceutical Tender Beyond Reproach – Procurement Board
By: Nghiinomenwa-vali Erastus The Central Procurement Board of Namibia (CPBN) says its decision to award a pharmaceutical tender to a company allegedly linked to Bank of Namibia’s Governor Johannes !Gawaxab was conducted in accordance with the law. About a…
Climate Change Poses a Significant Financial Risk
Nghiinomenwa-vali Eastus The heightened frequency and severity of extreme weather events, coupled with rising average temperatures, have the potential to reduce the value of certain assets and income sources for borrowers. The Bank of Namibia highlighted this risk in…
Electricity Tariffs to Keep Increasing Until 2028
By: Nghiinomenwa-vali Erastus and Justicia Shipena The latest 8% bulk tariff hike will not be the last electricity cost increase, as the regulator’s estimations indicate that Namibia will experience a bulk power tariff increase every year until 2028. According…
Mines Continue to Rely on External Borrowing … capital continues to flow out in interest payments
By: Nghiinomenwa-vali Erastus Corporate debts in the country surged by N$18.2 billion between 2022 and 2023, with N$17 billion of this borrowed from external sources. This was revealed in the latest Financial Stability Report. The mining sector notably…
“Nam Can Certify Its Diamonds, No Need For Antwerp” – Mbumba
By: Nghiinomenwa-vali Erastus President NangoloMbumba has emphasised Namibia’s capability to independently certify its diamonds, without reliance on external verification. He said this amidst new regulations mandating that all diamonds bound for Europe pass through Antwerp, Belgium. Mbumba last week…
Only 17 University Graduates Placed on the Job Market in Three Months
By: Nghiinomenwa Erastus Out of approximately 352 job seekers placed by the Labour Ministry’s Directorate of Labour Market Services between January and March this year, only 17 held university degrees, according to the ministry’s Quarter Four Report (Jan-March…