Category: Top Stories
Namcor Repays Half of N$1,1 Billion Debt
By: Staff writer Namcor says it has spent N$550 million to settle some of its N$1,1 billion debt to international oil seller Gunvor. This comes after the company received a N$1.2 billion lifeline from state coffers. Namcor said…
Almost N$1 Billion Switched From GC25 Bond
By: Nghiinomenwa-vali Erastus Investors in the GC25 Bond, maturing in October 2025, have moved N$944.9 million of their investment into other long-term government debt instruments. This shift means some investors have chosen to extend their lending to the…
Employers, Unions Raise Concerns Over Tax Refund Process
By: Hertha Ekandjo Employer representatives and labour unions have expressed concerns following the recent gazetting of the Namibian Income Tax Amendment Act, announced by Finance Minister Iipumbu Shiimi earlier this month. The Act mandates employers to reimburse employees for…
Trapped or Flourishing In SACU- The Namibian Dilemma
By: Nghiinomenwa-vali Erastus An analysis of Namibian trade statistics within Africa over the past five years reveals that approximately 71% of the country’s trade (both imports and exports) is concentrated within the Southern African Customs Union (SACU). This…
Southern African Bank to Fund Lobito Railway Corridor…initiative to challenge Namibia’s ambition to become Africa’s gateway
By: Nghiinomenwa-vali Erastus The Lobito Corridor Railway Project, which will connect the town of Lobito in Angola and its under-construction oil refinery to DRC, has secured US$200 million (N$3,5 billion) in funding. The funding will come from the…
Otavi Residents and Businesses Owe N$75 Million in Unpaid Fees
By: Uakutura Kambaekua The municipality of Otavi is grappling with a severe financial crisis due to widespread non-payment of taxes and service rates. In response, the council has urged consumers to settle their outstanding debts or arrange payment…
Muakotoko Kehi Rovakuate Venu
By: Nghiinomenwa-vali Erastus “Count yourselves as equals in your motherland,” remarked Otjozondjupa Governor James Unomasa Uerikua as 98 Batswana of Namibian descent were formally handed over by the Botswana government to Namibia. The group was received at the…
Australian Company Joins Madison in Cobra Uranium Project
By: Staff Writer Australian firm Star Minerals has teamed up with Canadian mining company Madison Metals to advance the Cobra Uranium Project near the Rossing Uranium Mine in Namibia’s Erongo region. The project is estimated to contain 15.6…
Agricultural Transformation Key to Ending Hunger – !Gawaxab
By: Hertha Ekandjo Governor of the Bank of Namibia, Johannes !Gawaxab, has stressed the urgent need to transform agriculture to combat hunger, reduce malnutrition, and promote economic growth. Speaking at the Bank’s 25th Annual Symposium on Thursday, he…
Drought Takes Heavy Toll on Southern Namibia’s Tourism
By: Hileni Inane The ongoing drought has severely impacted tourism activities in southern Namibia, driving tourists to seek leisure elsewhere. Last month, Simonis Storm Securities reported that the southern regions had the lowest occupancy rates in the country…