Category: Business
Govt Could Slash N$6.77 Billion in Bonds by 2025
By: Justicia Shipena The government is set to reduce its outstanding bonds by 2025, with N$6.77 billion currently owed on GC24, GC25, and GI25 bonds, according to a report from Simonis Storm Securities. This figure is expected to…
Ex-convict Receives Financial Boost to Grow His Barbershop Business
By: Loise Shiimi Cross-Calvary Niilenge, an ex-convict and owner of a barbershop in Oshakati, received a N$2,500 grant from a non-profit organisation aimed at supporting former offenders. The grant was provided by the Second Chance Foundation, a non-profit…
Namibia Secures Billions in Aid from China
By: Justicia Shipena President Nangolo Mbumba has returned from his first official state visit to China, securing significant financial aid and investment commitments from the Chinese government. During bilateral talks at the 2024 Summit of the 9th Forum…
Mbumba Sells Green Hydrogen Dream to China
By: Justicia Shipena President Nangolo Mbumba has asked the Chinese government to collaborate with Namibia in the development of green hydrogen and other energy projects the country has embarked on. He made this request during his bilateral talks…
Entrepreneurs Urged to Pursue Opportunities, Not Wait for Them
By: Mathias Hangala Local businesswoman Marisna Burger is encouraging Namibian entrepreneurs to actively seek economic opportunities rather than waiting for them to arise. Burger, founder and CEO of KMJ Solutions, a marketing firm, spoke in response to concerns…
Manufacturing Sector Records Exports Worth N$5.6 Billion in July
By: Hertha Ekandjo The manufacturing sector led the country’s exports in July 2024, with goods worth N$5.6 billion, contributing 55.9% of the total exports. This marks an increase of N$160 million compared to June 2024. Following the manufacturing sector,…
No Hope to Revive Peugeot’s Walvis Bay Assembly Plant
By: Justicia Shipena The French automaker Peugeot Group is unlikely to revive operations at its automotive assembly plant in Walvis Bay, which is facing closure six years after its establishment. This was revealed by outgoing French Ambassador to Namibia,…
Trustco to Focus on Non-Deposit Financial Services …as its banking licence is cancelled
Fransina Nghidengwa Trustco will pivot towards non-deposit-taking financial services following the surrender of its banking licence to the Bank of Namibia (BoN). The group’s founder, Quinton van Rooyen, expressed optimism about the “tremendous” growth potential in this new direction,…
Savanna and Castelo to Be Bottled Locally
By: Hertha Ekandjo, Nghiinomenwa-Vali Erastus Namibia Breweries Limited (NBL) has invested N$337 million in a new wine packaging line and has expanded its warehouse and other packaging equipment. This initiative will allow NBL to domesticate the packaging of popular beverages…
Companies Fined Over Concealing Ownership Change in Cement Factory
By: Nghiinomenwa-vali Erastus Three Chinese companies and a local cement production firm have been ordered to pay a fine of N$5 million after it was discovered that they implemented a merger without the approval of the Namibian Competition…