Category: Finance
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…
World Bank Group & AfDB Join Forces on Project to Electrify Africa
By: Hertha Ekandjo The World Bank Group (WBG) and the African Development Bank Group (AfDB) are teaming up to bring electricity to the remaining regions of Africa. This significant partnership was announced by WBG President Ajay Banga and…
Namibia Makes 200 New Millionaires
By: Staff Writer Namibia has cemented its position in the top 10 wealthiest countries in Africa in terms of millionaires, with an additional 200 millionaires reported since last year. According to the latest 2024 Africa Wealth Report by…
Repo Rate To Remain at 7.75% Economists Predict
By: Justicia Shipena Economists anticipate the Bank of Namibia’s Monetary Policy Committee (MPC) to maintain the repo rate at 7.75% due to the substantial rate difference compared to South Africa. Robert McGregor, an economist at Cirrus Capital said…
Shiimi Sets NamRa’s Collection Target at N$85 Billion …taxpayers refunded N$10.4 billion
By: Staff writer The Namibia Revenue Agency (NamRa) has adjusted its revenue collection target from N$81 billion to N$85 billion, as revealed by the agency’s Commissioner, Sam Shivute. Over the last three years since its inception, NamRa’s collection targets…