Category: Top Stories
N$451 Million Pharmaceutical Tender Beyond Reproach – Procurement Board
By: Nghiinomenwa-vali Erastus The Central Procurement Board of Namibia (CPBN) says its decision to award a pharmaceutical tender to a company allegedly linked to Bank of Namibia’s Governor Johannes !Gawaxab was conducted in accordance with the law. About a…
Climate Change Poses a Significant Financial Risk
Nghiinomenwa-vali Eastus The heightened frequency and severity of extreme weather events, coupled with rising average temperatures, have the potential to reduce the value of certain assets and income sources for borrowers. The Bank of Namibia highlighted this risk in…
David Namwandi Trust to Provide Seed Capital to Graduates
By: Loise Shiimi The David Namwandi Trust initiative will make seed capital available to graduates with convincing projects that have the potential to scale and succeed in entrepreneurship. Professor David Namwandi, founder of the International University of Management (IUM),…
Electricity Tariffs to Keep Increasing Until 2028
By: Nghiinomenwa-vali Erastus and Justicia Shipena The latest 8% bulk tariff hike will not be the last electricity cost increase, as the regulator’s estimations indicate that Namibia will experience a bulk power tariff increase every year until 2028. According…
Paratus Namibia Secures N$600 Million Rights Issue Investment
By: Staff Writer Paratus Namibia Holdings has successfully raised over N$600 million through its recent rights issue and investment drive, which was fully subscribed. A rights issue is an offering that allows existing shareholders to buy additional shares directly…
Iran Announces Fresh Plans for Walvis Bay Oil Refinery
By: Justicia Shipena Iran has announced plans to establish a refinery at Walvis Bay port, among other initiatives in the oil sector, an idea that was first conceived over 13 years ago. Iranian ambassador to Namibia, Seyed Ali Sharifi…
Green Hydrogen Pipeline to Connect Namibia and SA Proposed
By: Justicia Shipena Namibia, South Africa, and the Netherlands are exploring the possibility of establishing a green hydrogen pipeline connecting Namibia and South Africa. This initiative is part of a memorandum of understanding involving the Western Cape Development Agency…
Mines Continue to Rely on External Borrowing … capital continues to flow out in interest payments
By: Nghiinomenwa-vali Erastus Corporate debts in the country surged by N$18.2 billion between 2022 and 2023, with N$17 billion of this borrowed from external sources. This was revealed in the latest Financial Stability Report. The mining sector notably…
Dumping Sites Hustlers Prevented From Collecting Scrap Items
By: Loise Shiimi Windhoek residents who rely on dumpsites for recycling purposes have reported being barred from collecting reusable items at dumping sites in Okuryangava, preventing them from selling these items to scrap yards and other outlets. This decision…
Windhoek Faces Potential N$52 Million Loss if Industries Fully Tap Aquifers
By: Hertha Ekandjo The Windhoek municipality could face an annual loss of up to N$52 million if industries are permitted to exclusively use their private aquifers as a water source for production. To mitigate this risk, the City…