Category: Finance
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,…
EIF and DBN Collaborate to Raise Green Funding
Nghiinomenwa-Vali Erastus The Environmental Investment Fund of Namibia (EIF) and the Development Bank of Namibia (DBN) have entered into an agreement aimed at raising green funding to strengthen climate change resilience across the country. The two entities will implement…
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,…
Repo Rate Cuts Offer Little Relief for the Poor – Kganyago
By: Nghiinomenwa-vali Erastus The deep interest rate cuts by monetary policy committees globally, regionally, and domestically during the pandemic did little to alleviate the burden of interest payments on lower-income households or address the issue of inequality. This is…
Nam Urged to Plan According to Production Advantages
By: Hertha Ekandjo The African Development Bank (AfDB) has urged Namibia to focus on national development plans that capitalise on its comparative advantages. In its 2024 Country Focus Report titled “Driving Namibia’s Transformation: The Reform of the Global Financial…
Mission to Enhance Beneficial Ownership Launched
By: Hertha Ekandjo A scoping mission workshop aimed at identifying priority activities for technical assistance to improve Namibia’s beneficial ownership reporting systems was launched by the European Union Global Facility this week. The Global Facility deals with…
BoN Expected to Cut Repo Rate
By: Loise Shiimi The Bank of Namibia’s Monetary Policy Committee is expected to announce the reduction in the repo rate by 25 basis points this morning. The repo rate has remained unchanged at 7.75% for the last two meetings in…