Category: Business
Choppies Fined N$2,2 Million for Backdoor Acquisition of Supermarket
By: Nghiinomewa-vali Erastus The Namibia Competition Commission has fined Choppies Retailer N$2.2 million for acquiring Grootfontein Supermarket and Grootfontein Bottle Store without notifying the regulator. Choppies was fined after the Commission’s investigation found that they contravened Section 44…
Minister Urges Small Businesses to Expand and Capitalise on the AfCFTA
By: David Shoombe Minister of Industrialisation and Trade, Lucia Iipumbu, has called on local entrepreneurs to expand their businesses and seize opportunities within the African Continental Free Trade Area (AfCFTA). Speaking at the handover ceremony of the Equipment…
Opinion: Will You Win the Black Friday Deals?
By: João Bismarck It’s a warm November morning in Windhoek, and the streets are alive with anticipation. Some Namibians have saved diligently for the day, while others have sought assistance from financial institutions. Black Friday, the global shopping phenomenon, is…
Mining and Quarrying PPI Records Quarterly Decline Amid Commodity Price Weakness
By: David Shoombe The Producer Price Index (PPI) for Namibia’s mining and quarrying sector recorded a 7.4% increase year-on-year, according to the Namibia Statistics Agency (NSA). However, on a quarterly basis, the sector experienced a slight decline, attributed…
TotalEnergies Crowns 2024 Startupper of the Year Winners
By: Staff writer TotalEnergies awarded the Namibian winners of the Start-upper of the Year Challenge at the Mercure Hotel in Windhoek on Wednesday evening. Young and striving entrepreneurs from 32 African countries could participate in the challenge’s fourth edition….
Blue Earth Capital N$198 Million Investment To Fuel Rhino Park Expansion Plans
By: Staff writer Global specialist investor Blue Earth Capital has committed N$198 million ($11 million) in private credit to Rhino Park Holdings, a specialist in maternity and neonatal healthcare. The funding will work to catalyse Rhino Park’s ambitious expansion…
October Vehicle Sales Surge
By: Ludorf Iyambo Vehicle sales in October soared to 1,145 new units, marking a 24.6% year-on-year increase from the 919 units sold during the same period last year. Simonis Storm analyst Almandro Jansen attributed this growth to pre-year-end,…
FNB Launches Cross-Border Payment Solution
By: Dolly Menas First National Bank (FNB) Namibia has partnered with BankservAfrica to introduce the Transactions Cleared on an Immediate Basis (TCIB) solution. The payment solution is an innovative system designed to enhance cross-border payments within the Southern…
DBN’s Balance Sheet Affected by Oil Storage Loan
By: Nghiinomenwa-Vali Erastus The Development Bank of Namibia (DBN) has reported a decline in its balance sheet, primarily attributed to the accelerated runoff from the National Energy Fund (NEF) oil storage loan exposure. The bank’s total balance sheet…
Uaandja urges Namibians to Take Initiative in FDI-Linked Opportunities
By: Justicia Shipena The Namibia Investment Promotion and Development Board (NIPDB) is urging Namibians to actively pursue foreign direct investment (FDI) opportunities, rather than passively waiting for assistance. In a recent interview with Eagle FM, NIPDB CEO Nangula…