Category: Top Stories
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…
Govt Allocates N$825 Million Towards Drought Relief Efforts
By: Annakleta Haikera The Office of the Prime Minister (OPM) has allocated N$825 million for the drought relief program during the current 2024/2025 financial year. This allocation, as stated by Cabinet, aims to safeguard and alleviate the impact…
Mining Sector Yields N$2.7 Billion in Profits
By: Justicia Shipena Namibia’s mining sector, in 2023, amassed a collective profit of N$2.731 billion. This marks a significant turnaround from the N$391 million loss reported in 2022. This was revealed by the Chamber of Mines of Namibia…
OPEC Ready to Support Namibia’s Oil Production Endeavours
By: Hertha Ekandjo The Organisation of the Petroleum Exporting Countries (OPEC) has expressed its readiness to support Namibia as it ventures into oil production. During the 6th Namibia International Energy Conference, OPEC Secretary General Haitham Al Ghais conveyed…
88% of NDTC Rough Diamonds Processed Locally
By: Nghiinomenwa-vali Erastus In 2023, the Namibia Diamond Trading Company (NDTC) disclosed that 88% of the rough diamonds sold had undergone full processing (polishing and cutting) within Namibia before export. This was revealed by NDTC’s Chief Executive Officer,…
Local Content Policy to Proceed Without Local Situational Analysis
By: Justicia Shipena Namibia will not conduct a local situational analysis as the country prepares to draft its local content policy for the petroleum industry. Petroleum Commissioner Maggy Shino revealed this during a recent local content conference held…
Govt Considers Proposal to Disband NPTH
By: Nghiinomenwa-vali Erastus The government is on the brink of implementing its 2014 decision to disband its largest holding company, Namibia Post and Telecom Holdings Limited (NPTH). A readiness report detailing various strategies to implement this is currently…
Construction of the Trans-Kalahari Railway Expected to Commence by 2026
By: Staff Writer Construction on the much-anticipated multibillion-dollar Trans-Kalahari Railway is expected to start by 2026. This was revealed by Hippy Tjivikua, CEO of the Walvis Bay Corridor Group (WBCG). In 2022, Minister of Works and Transport, John…
Namibia’s Green Hydrogen Executive Acknowledges Local Skills Gap
By: Dwight Links Joseph Mukendwa, the executive overseeing policy, planning, and strategy for Namibia’s Green Hydrogen Programme (NGHP), has acknowledged a shortage of necessary skills in the country. This admission follows concerns raised by the public regarding the…
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…