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…
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…
Investment Bill Expected Before Mbumba’s Term Concludes
By: Justicia Shipena Minister of Finance Ipumbu Shiimi says the government is working towards enacting the much anticipated Investment Promotion and Facilitation Bill before President Nangolo Mbumba’s term ends. The bill, which has undergone extensive consultative engagement, aims…
Food Inflation Increase Forecasted Amid Persistent Drought
By: Hertha Ekandjo The First National Bank (FNB) has projected a modest increase in inflation for the food and non-alcoholic beverages sector, forecasting a rise to 4.7% year-on-year (y/y) in July 2024, up from 4.3% in June. This anticipated…
Mbumba Wants Commercial Banks to Actively Participate in National Development
By: Hertha Ekandjo President Nangolo Mbumba has urged local banks to adopt a more proactive stance in funding small and medium-sized enterprises (SMEs) to develop the economy. He called on them to explore avenues that significantly reduce collateral requirements…
NamWater Faces Financial Strain Due to Unpaid Bills
By: Justicia Shipena The Namibia Water Corporation (NamWater) is grappling with significant financial challenges, primarily due to unpaid bills by its customers. NamWater CEO Abraham Nehemia highlighted this issue recently, noting that in 2022, NamWater reported being owed a…
Capricorn Allocates N$750,000 Towards Community Support
By: Dolly Menas The Capricorn Foundation says it plans to spend about N$750 000 to support various community projects aimed at providing basic needs, such as education and training, creating job opportunities and providing psychological support among other…
Namibians Have N$426.8 Billion in Savings
By: Nghiinomenwa-vali Erastus By the end of March 2024, Namibians had accumulated N$426.8 billion in retirement, medical aid, insurance, unit trusts, and asset management savings. This information was disclosed following an assessment by the Macroprudential Oversight Committee (MOC) of…
Agribank Pledges to Assist Fruit Farmers
By: Ludorf Iyambo Agribank’s northern branch has expressed readiness to assist farmers in closing Namibia’s fruit import gap. This announcement follows recent reports by the Namibian Agronomic Board (NAB) that 96% of the fruits consumed in the country are…
Law on Welwitschia Sovereign Wealth Fund to Reach Parliament Soon
By: Justicia Shipena Finance Minister Ipumbu Shiimi announced that legislation for managing the Welwitschia Sovereign Wealth Fund will soon be presented to parliament. This statement was made in response to questions from parliament member Jennifer Van den Heever regarding…