Author: Staff Writer
Paratus Namibia Secures N$600 Million Rights Issue Investment
By: Staff Writer Paratus Namibia Holdings has successfully raised over N$600 million through its recent rights issue and investment drive, which was fully subscribed. A rights issue is an offering that allows existing shareholders to buy additional shares directly…
Construction Sector Experiences Growth in Windhoek
By: Staff Writer The Windhoek municipality approved a total of 184 building plans in March, marking an 11.5% month-on-month (m/m) increase compared to February’s figures and signalling a steady uptick in construction activity in the capital. Analysis conducted by…
Namibia’s Trade Deficit Widens to N$4.5 Billion
By: Staff Writer Namibia’s trade deficit expanded slightly in March, with exports falling short by N$1.9 billion compared to the same period last year. Export earnings increased from N$6.1 billion in February to N$8.3 billion in March, while imports…
Winnie Madikizela Mandela Road to Undergo Dual Carriageway Upgrade
By: Staff Writer The City of Windhoek has approved Ongos Valley Development’s proposal to upgrade Winnie Madikizela Mandela Road into a dual carriageway and to engage in a development agreement. This project, according to the municipality, presents an…
Leisure Tourism Dominates with 93.1% of Visitors in March
By: Staff Writer Leisure tourism continued to be the driving force behind the local tourism industry, attracting 93.1% of all visitors in March 2024. Across all hospitality establishments nationwide, the occupancy rate reached 49.2% during the month, marking…
Madison Metals Identifies Drill Targets with Recent Results
By: Staff Writer Uranium exploration company Madison Metals has reported an expansion in the surface expression of radiometric D-type leucogranites, a promising rock formation prevalent in the area. Of notable importance is the increased surface expression of mineralized…
Construction of the Trans-Kalahari Railway Expected to Commence by 2026
By: Staff Writer Construction on the much-anticipated multibillion-dollar Trans-Kalahari Railway is expected to start by 2026. This was revealed by Hippy Tjivikua, CEO of the Walvis Bay Corridor Group (WBCG). In 2022, Minister of Works and Transport, John…
Namibia Makes 200 New Millionaires
By: Staff Writer Namibia has cemented its position in the top 10 wealthiest countries in Africa in terms of millionaires, with an additional 200 millionaires reported since last year. According to the latest 2024 Africa Wealth Report by…
Shiimi Sets NamRa’s Collection Target at N$85 Billion …taxpayers refunded N$10.4 billion
By: Staff writer The Namibia Revenue Agency (NamRa) has adjusted its revenue collection target from N$81 billion to N$85 billion, as revealed by the agency’s Commissioner, Sam Shivute. Over the last three years since its inception, NamRa’s collection targets…
Vehicle Sales Soar in March
By: Staff writer March 2024 witnessed the highest vehicle sales since July 2016, with 1,451 units sold last month, just 89 units shy of the 1,540 sold in the same month eight years ago. Out of the 1,451…