Category: Finance
Trustco Group Holdings Seeks U.S. Stock Listing
By: Staff Writer Trustco Group Holdings Limited has announced its intention to become the first Namibian company to be listed on the Nasdaq Stock Market. Currently trading on the Namibian Stock Exchange (NSX) and the Johannesburg Stock Exchange…
Opinion: Estate planning: Expenses to be considered for a deceased estate
By: Letitia Du Plessis A deceased estate refers to the property and money left behind by a person after they passed on. A critical part of estate planning is ensuring that there is sufficient cash in your estate to…
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…
Africa Advised to Ditch US Dollar to Reduce Cross-Border Trade Costs
By: Nghiinomenwa-vali Erastus In a recent interview with Bloomberg Africa, a Standard Bank Group analyst highlighted that intra-African trade could see significant improvements if African nations eliminate the US dollar from their cross-border transactions. Tunde Macaulay, head of…
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…
EU Contributes N$3.8 Million to Namibia’s Drought Relief Efforts
By: Dolly Menas and Kavee Vezemburuka The European Union (EU) has donated €200,000 (N$3.8 million) to Namibia’s drought relief program, meant to support over 140,000 people affected by drought in the Kavango West, Zambezi, Omusati, Ohangwena, and Kunene…
Kelp Blue Plans to Issue Africa’s First Corporate Blue Bond
Bloomberg Kelp Blue plans to issue Africa’s first corporate blue bond next year to expand its giant kelp forests along Namibia’s coast. The De Beers-backed startup will list the first $20-million tranche of a four-year programme, in which it seeks…
Govt to Borrow N$4.6 Billion by March 2025 … budget shortfall rises to N$15.1 billion
By: Nghiinomenwa-vali Erastus The government plans to borrow N$4.6 billion between November 2024 and March 2025 to cover its budget commitments for the 2024/25 financial year. This will help address the revised budget deficit, with total government spending…
Govt Slow at Implementing Capital Projects
By: Nghiinomenwa-vali Erastus As of September 30, 2024, only 37% of Namibia’s development budget (N$12.8 billion) has been spent, including expenditure commitments, according to the latest update from Finance Minister Iipumbu Shiimi. This sluggish pace in executing capital…
NACN Disburses N$673,552 to Support Creative Projects
By: Staff Writer The National Arts Council of Namibia (NACN) has allocated N$673,552 to creative projects as part of Cycle 3 of its grant-funding program. This round follows earlier disbursements of N$615,206.50 to 16 projects in Cycle 1…