Category: Finance
Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark….
FNB Partners With Namibia Development Trust for World NGO Day
By: Staff Writer FNB Namibia recently collaborated with the Namibia Development Trust (NDT) to commemorate World NGO Day 2024, honouring individuals dedicated to humanitarian causes. World NGO Day was observed on February 27 and 28, focusing on the…
Trade Union Eyes Promised Salary Hikes in 2024 Budget
By: Justicia Shipena The Trade Union Congress of Namibia (Tucna) Secretary General, Mahongora Kavihuha, is hopeful that the 2024 national budget will honour the promised salary increments for civil servants. In November last year, the Namibia Public Workers Union…
SOEs Have Turned into Financial Parasites – Baumann
By: Justicia Shipena As the National Assembly awaits the tabling of the 2024/2025 national budget today, human rights activist Linda Baumann has criticised the operations of the state-owned enterprises (SOEs) arguing that the entities have now morphed into…
Grey-listing Could Negatively Affect Namibia’s GDP by 6%
By: Staff writer Namibia’s recent grey-listing by the anti-money laundering watchdog Financial Action Task Force (FATF) could have a detrimental impact on the country’s Gross Domestic Product (GDP) by up to 6%. The grey-listing occurred on Friday following a…
Namibia Likely To Be Grey-Listed After Reforms Deadline Failure
By: Justicia Shipena There are high chances that Namibia would be greylisted by the Financial Action Task Force (FATF) following its failure to fully implement all the recommendations outlined in the Mutual Evaluation Report. Finance Minister Iipumbu Shiimi…
Bank Windhoek Appoints Ngula as Head of e-Money
By: Staff Writer Bank Windhoek has announced the appointment of Candy Ngula as its new Head of Electronic Money (e-Money). In her new role, Ngula will lead the charge in driving the value of e-Money while overseeing its…
EIF and NASRIA Forge Collaboration on Climate-Related Insurance Products
Justicia Shipena The Environmental Investment Fund of Namibia (EIF) and Namibia Special Risks Insurance Association Limited (NASRIA) formalised their partnership through a Memorandum of Cooperation (MOC). This collaborative effort is poised to drive the development and accessibility of insurance…
Namibia’s Fixed Currency Presents Challenges in Tackling Inflation
By: Justicia Shipena Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, says the limited flexibility of Namibia’s fixed currency, which is tied to the South African Rand, in combating inflation. Namibia recorded an annual inflation rate of…
More than Half of Namibia’s Public Enterprises Report Losses, IPPR Finds
By: Justicia Shipena Over 50% of commercial public enterprises in Namibia suffered financial losses in the last fiscal year. This was revealed in a recent report published by the Institute for Public Policy Research (IPPR). The Quarterly Economic…