Category: Finance
Opinion: Maximise Your Earnings from the Upcoming Tax Relief
By: Julia Mukusuka As October approaches, bringing both the month of savings and the anticipated 2024 tax relief, Namibian households are set to enjoy much-needed financial relief. This not only eases household budgets but also creates opportunities for…
Employers, Unions Raise Concerns Over Tax Refund Process
By: Hertha Ekandjo Employer representatives and labour unions have expressed concerns following the recent gazetting of the Namibian Income Tax Amendment Act, announced by Finance Minister Iipumbu Shiimi earlier this month. The Act mandates employers to reimburse employees for…
Auction Sees N$1.3 Billion Rolled Over in Treasury Bills
By: Nghiinomenwa-vali Erastus At a Treasury Bills auction held on 12 September 2024, the government opted to roll over N$1.3 billion borrowed from investors, rather than seeking new funding. This strategy of extending existing debts, known as a rollover,…
Capricorn Group Reports N$1.74 Billion Profit After Tax
By: Justicia Shipena Capricorn Group has reported a robust financial performance for the year ending 30 June 2024, with profit after tax increasing by 9.9% year-on-year, reaching N$1.74 billion, up from N$1.58 billion in 2023. The Group’s return on…
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…
Letshego’s Assets Increase to N$6.7 Billion
By: Nghiinomenwa-vali Erastus Letshego Holdings Namibia has grown its asset base by N$566.9 million over the past 12 months, reaching N$6.7 billion as of 30 June 2024, according to the company’s unaudited financial summary. The financial group, which includes…
SMEs Urged to Focus on Growth Before Taking Loans
By: Mathias Hangala Business and economic researcher Josef Kefas Sheehama has advised small enterprise owners to prioritise growing their businesses organically before taking out loans. He emphasised that while loans can provide necessary funds for expanding a business, such…
Agribank Seeks Green Climate Fund Accreditation as it Expands in the North
By: Nghiinomenwa-Vali Erastus and Loise Shiimi The Agricultural Bank of Namibia (Agribank) is working with the Environmental Investment Fund of Namibia to get accredited by the Green Climate Fund (GCF) to access climate finance. Agribank’s CEO, Raphael Karuaihe,…
Trustco’s Mining Investment Yields 391.45-Carat Diamond
By: Justicia Shipena Trustco Group has announced the recovery of a 391.45-carat diamond in Sierra Leone’s Kono District, where it holds a 19.5% interest in Meya Mining. The diamond was discovered within the Kamara Gbense and Tankoro chiefdoms,…