Category: Finance
Bank Windhoek Sells N$188 Million Worth of Property in Northern Namibia
By: Dolly Menas Bank Windhoek says it sold 142 properties valued at N$188 million through estate agents in northern Namibia last year, a substantial increase from N$88 million in 2021. This achievement was announced by James Chapman, Executive Officer…
Old Mutual Launches Third Edition of OM SEED to Empower Entrepreneurs
By: Dolly Menas The Old Mutual Foundation has launched the third edition of the Old Mutual Sustainable Economic and Empowerment Drive (OM SEED), investing N$800,000 to support grassroots entrepreneurs in the Ohangwena, Zambezi, Oshikoto, and Kavango West regions….
Intercompany Loans and High Interest Drives External Borrowing
By: Nghiinomenwa-vali Erastus The surge in external borrowing by local companies, especially those in the mining companies, has been driven by their access to capital from their parent companies and to evade domestic higher interest rates. This was the…
Bank Windhoek Honors Automotive Industry Achievements in Northern Namibia
By: Dolly Menas Several northern automotive industry sales representatives received top honours at Bank Windhoek’s fourth Annual Northern Selekt Sales Awards hosted in Oshakati. Petrus Enkali of Pupkewitz Toyota Oshakati, Augustus Joseph of Pupkewitz Nissan Oshakati, and Hendrik Johannes…
Letshego’s N$260 Million Social Bond to Focus on Housing, SMEs
By: Dolly Menas Letshego Holdings Namibia has launched its first social bond on the Namibia Stock Exchange, valued at N$260 million. This bond aims to support underserved individuals, micro and small entrepreneurs, and small business owners. Additionally, the company…
Bank Windhoek Assists 137 SMEs in N$200 Million Loan Scheme
By: Dolly Menas Bank Windhoek has announced the full utilisation of the N$200 million allocated under the Small and Medium-sized Enterprises (SME) Economic Recovery Loan Scheme. Bianca Janse Van Vuuren, the bank’s head of small and medium-sized enterprises…
World Bank Approves Namibia’s N$2.6 Billion Energy Project Funding
Hertha Ekandjo The World Bank on Tuesday approved a N$2.6 billion financial package aimed at bolstering Namibia’s energy infrastructure by expanding its transmission network and integrating renewable energy sources into the grid. The Transmission Expansion and Energy Storage (TEES)…
Bankers Urges Compliance with Beneficial Ownership Information Requirements
By: Dolly Menas The Bankers Association of Namibia (BAN) and Namibia Savings and Investments Association (NASIA) have jointly called upon all companies to adhere to Beneficial Ownership (BO) information requirements to uphold regulatory transparency. Beneficial ownership information entails…
Bank Windhoek and NASRIA in N$50 Million Partnership to Boost SMEs
By: Dolly Menas Bank Windhoek and the Namibia Special Risks Insurance Association (NASRIA) Ltd have entered into a partnership agreement valued at N$50 million under the Credit Guarantee Scheme (CGS) to bolster support for SMEs. This collaborative effort…
Only N$165.1 Million Switched from GC24’s N$2.3 Billion
By: Nghiinomenwa-vali Erastus In its fifth attempt to persuade investors holding GC24 bonds to switch to other long-term bonds, the Bank of Namibia only managed to move about N$165 million of the total bond value. The Bank of…