Category: Top Stories
Govt to Borrow N$15.3 Billion This Year
By: Nghiinomenwa-vali Erastus The government wants to borrow up to N$15.3 billion from various financiers, including individuals, institutions, and others, to meet its budgetary commitments and repay maturing debts during the current financial year. This 2024/25 financing need represents…
Intercompany Loans and High Interest Drives External Borrowing
By: Nghiinomenwa-vali Erastus The surge in external borrowing by local companies, especially those in the mining companies, has been driven by their access to capital from their parent companies and to evade domestic higher interest rates. This was the…
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…
NWR Reports N$46 Million Profit and Clean Audits
By: Justicia Shipena Namibia Wildlife Resorts (NWR) has announced that it made a profit of N$46 million for the second consecutive year and has also improved its financial management systems which resulted in a clean external audit opinion….
Only 18% of White Maize Demand Can Be Met Locally
By: Nghiinomenwa-vali Erastus Projections from the Namibia Agronomic Board (NAB) indicate that local white maize production will only reach 32,394 tons for the 2023/24 harvesting year, while the country’s demand stands at 180,000 tons. This shortfall underscores the risks…
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…