Category: Finance
Namibia Hydrogen Fund to Invest in HyIron’s Oshivela Project
By: Nghiinomenwa-vali Erastus Namibia Hydrogen Fund Managers has committed development funding to HyIron’s Oshivela Project, aiming to boost green iron production using hydrogen instead of carbon. Announced in a joint statement last week, the investment seeks to expand…
Govt Lowers Expected Diamond Sector Revenue by N$2.3 Billion
By: Hertha Ekandjo The government has reduced its projected revenue from the diamond sector for the 2024/2025 fiscal year by more than N$2.3 billion, citing lower global diamond prices and weakened demand. Minister of Finance and Public Enterprises Iipumbu…
Langer Heinrich Local Spending Exceeds N$1.15 Billion
By: Justicia Shipena The Langer Heinrich Mine (LHM), has spent just over N$1,15 billion (US$61 million) over the past financial year, through the acquisition of local various products and services to strengthen its operations. This investment follows the…
Nine of 13 FATF Recommendations Partially Addressed … compulsory reporting to begin next month
By: Hertha Ekandjo Namibia has made notable strides in addressing the Financial Action Task Force (FATF) greylisting, having partially fulfilled nine of the 13 recommended actions in a voluntary progress report presented at the recent FATF plenary meeting…
Grove Mall Records N$18 Billion Turnover in 10 Years
By: Hertha Ekandjo The Grove Mall has achieved a remarkable milestone, recording a turnover of N$18 billion in its 10 years of operation since opening its doors in Windhoek in 2014. Over this period, the mall has employed…
Pooled Procurement Solution to Address Medicine Shortages … shortage of local manufactures to meet pressing needs
By: Abigail Nalisa The Central Procurement Board of Namibia (CPBN) has highlighted significant challenges in local manufacturing, leading to delays in delivering essential services to the Health Ministry. Health Minister Kalumbi Shangula has previously criticised the current procurement system,…
Repo Rate Cuts Could Revive Construction Sector
By: Dolly Menas The recent 25-basis point repo rate cut by the Bank of Namibia (BoN) could bring much-needed relief to the property sector, especially in residential property financing. The BoN’s Monetary Policy Committee (MPC) unanimously decided last week…
TransNamib and Partners to Return N$152 Million Grant Funding to Donours
By: Justicia Shipena The HyRail Project may soon return €7.6 million (approximately N$152 million) from a €30 million grant provided by the German Federal Ministry of Education and Research (BMBF). Spearheaded by TransNamib in collaboration with Hyphen Technical, Belgium’s…
Namibia Secures N$1.7 Million in Funding for COP29 Attendance
By: Justicia Shipena With only a few weeks remaining until the 29th Conference of Parties (COP29) on climate change, Namibia has secured N$1.775 million to support its participation at the global event. The funding will facilitate Namibia’s engagement…
NamRA Generates N$4.3 Billion Through Tax Amnesty
By: Dolly Menas and Kavee Vezemburuka The Namibia Revenue Agency (NamRA) has so far collected N$4.3 billion through its tax amnesty programme, which began on 1 April 2023. The initiative was designed to provide relief to taxpayers struggling…