Author: Nghiinomenwa-vali Erastus
Treasury Bills Attracts More Than Double The Needed Funds
By: Nghiinomenwa-vali Erastus In a recent Treasury Bills auction conducted by the Bank of Namibia, the government found itself flooded with investor interest, receiving N$2.8 billion in offers when it sought only N$1.3 billion. This oversubscription left an additional…
Namibia Continues to Struggle with Electricity Generation …Imports 63.5% in October
By: Nghiinomenwa-vali Erastus Namibia faced a significant energy challenge in October as the country only managed to generate 36.5% of its total electricity demand. As a result, the country imported the remaining 63.5% from neighbouring countries to meet demand. According…
Govt to Waive N$126 Million in Corporate Taxes for Skills Development
By: Nghiinomenwa-vali Erastus and Abigail Nalisa The government is set to waive N$126 million in corporate income tax revenue in an attempt to encourage employers to recruit more interns. This move, constituting 2% to 5% of corporate income tax (non-mining…
Govt Deploys Nearly 300 Tractors to Regions
By: Nghiinomenwa-vali Erastus The Ministry of Agriculture, Water and Land Reform has announced that it has delivered nearly 298 additional tractors, supplementing the existing fleet of 194, across various crop-producing regions. This move is aimed at addressing challenges faced by…
Namibia Records Trade Surplus with Africa Twice in 2023
By: Nghiinomenwa-vali Erastus Fearing becoming a dumping site once the economically hyped continental free trade area starts, Namibia has demonstrated its trade prowess in the past seven months of trade statistics analysed by The Villager this year. According to…
Africa’s Renewable Energy Capacity Expected to Reach 290 GW by 2035
By: Nghiinomenwa-vali Erastus Africa’s renewable capacity is predicted to reach a modest 24 GW by 2023, primarily propelled by onshore wind and solar capacity. However, a substantial increase is anticipated around 2026, with onshore wind, solar, and hydrogen capacity leading…
MTC Faces Earnings Margin Decline Amid Economic Challenges
By: Nghiinomenwa-vali Erastus Namibia’s largest mobile operator, MTC, has reported a decline in its earnings before interest, tax, depreciation, and amortisation (EBITDA) margin, primarily attributing it to economic hardships impacting disposable income and increased costs of sales. The EBITDA…
Climate Risks Pose Macro Threats to Households … IMF Managing Director Urges Urgent Action
By: Nghiinomenwa-vali Erastus International Monetary Fund (IMF) Managing Director Kristalina Georgieva has issued a stern warning about the macro-level impacts of climate change, emphasising its global significance. In a keynote speech at the COP28 Business & Philanthropy Climate Forum…
Angola, Nigeria Resist Oil Production Cut Plans
By: Nghiinomenwa-vali Erastus Angola and Nigeria have expressed their intent to defy the directives by the Organisation of the Petroleum Exporting Countries and Allies (OPEC+) urging member states to reduce oil production in an attempt to stabilise the market. The…
Opening of Borders to Foreign Workers Is Governed by Law, Not Market Forces
By: Nghiinomenwa-vali Erastus The decision to permit or deny foreign workers to come and work in Namibia for a certain period is solely within the discretion of the Immigration Selection Board (ISB). This decision is guided by Namibia’s Immigration…