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Trustco, BON Clash Commences In High Court
By:Eba Kandovazu The Bank of Namibia BoN) will have to explain itself to the Windhoek High Court why it failed to deliver the review record which was due to be done on 17 October. The central bank also did not…
Lawmaker Accuses Chinese Company With Cheating …… as mines ministry faces a barrage of questions from lawmakers
By:Megameno Shinana A parliamentary standing committee on economics meeting with the mines minister Tom Alweendo and his team ended on a heated note yesterday afternoon. The discussions focused on the management of Namibia’s mineral resources while huge Lithium exports to…
Ndama residents choose between cooking, drinking or bathing
Annakleta Haikera Some residents in Ndama informal settlements of Rundu in Kavango East say they are tired of having no access to water. They also blame the Rundu town council for not providing them with development in their communities, stating…
DBN Offers Struggling Businesses Safety Net
By:Nghiinomenwa-vali Erastus Various businesses that owe the Development of Bank of Namibia (DBN) and have been struggling to repay their debts have now an option to exchange some of their debt for equity to the bank for a certain period….
Tourism Board Faces ALiquidity Risk …as it incurred a deficit of N$19 million
By:Justicia Shipena Entrusted with implementing the national policy on tourism the country, the Namibia Tourism Board (NTB) now faces a liquidity risk. This was revealed in the latest NTB’s audit report released by auditor general Junias Kandjeke. The audit was…
DBN Offers Struggling Businesses Safety Net
By:Nghiinomenwa-vali Erastus Various businesses that owe the Development of Bank of Namibia (DBN) and have been struggling to repay their debts have now an option to exchange some of their debt for equity to the bank for a certain period….
Canadian Mining Firm Acquires Interest in Mining and Prospecting Licences
By: Staff writer Canadian-based mining firm Madison Metals has acquired 90% direct interest in Mining Licence 86A (ML86A) and Exclusive Prospecting Licence 8905 (EPL-8905) with 10% free carry in favour of the vendor (the “Transaction”). ML86A and EPL-8905 together share…
Mayor Lying About CEO Appointment, Says IPC Windhoek Councillor
By:Hertha Ekandjo Independent Patriots for Change (IPC) councillor Bernardus Araeb has accused City of Windhoek mayor Sade Gawanas of not being honest about investigations into Conrad Lutombi’s appointment as the city’s chief executive officer(CEO). Confirmation of Lutombi’s appointment has been…
Local Insurance Companies Pay Out Billions in Life Insurance Claims
By:Justicia Shipena Between the first quarter of 2020 and the first quarter of 2022 local insurance companies have paid out over N$20 billion in claims from life insurance policies. This is according to economists at Simonis Storms on vehicle sales…
Govt Wantsto Borrow N$3 Billion in Five Months
By:Nghiinomewnwa-vali Erastus For the remaining five months of the current 2022/23 financial year ending 31 March, the government is expected to borrow about N$3 billion from individual and institutional investors. This is after the government’s total borrowing needs for the…