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Bank of Namibia leaves lending rate unchanged at 6.75 pct
The Bank of Namibia left its benchmark lending rate unchanged at 6.75 percent on Wednesday for a fourth meeting in a row, saying the current level was appropriate to support economic growth. The...
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Angola veterinary fence becoming reality
The long road to have farmers in the Northern Communal Areas enjoy economic benefits from the lucrative meat exports has finally started with budget documents showing that the Ministry of...
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Eros Airport runway set for N$543m upgrade
The Eros Airport runway in Windhoek is set for an N$543 million upgrade, starting this year, a senior government official said this week. The upgrade is expected to run for a period of 18 to 24 months....
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Govt scraps plan to force businesses to sell 25 percent stake to blacks
As reported by the Windhoek Observer last month, Government has scrapped a clause in its economic empowerment framework that would have forced majority white businesses to sell a 25 percent stake to...
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Debmarine sponsors UNAM schools
Debmarine Namibia last week donated N$250, 000 to the University of Namibia (UNAM) towards the setting up of a School of Marine Engineering and Maritime Studiesand the Centre for Mining and...
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FIC blocks suspicious transactions worth N$196m
The Financial Intelligence Centre (FIC) at the Bank of Namibia has blocked 125 suspicious transactions amounting to N$196 million from 2010 to 31 March last year,the centre’s 2017 annual report shows....
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Majority of businesses report economic crime
A recent survey conducted by accounting firm, PwC on economic crime in Namibia shows that 53 percent of companies have experienced economic crime. The survey also shows that CEOs and board members are...
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ACC to add forensic unit
The Anti-Corruption Corruption Commission (ACC) says it plans to establish a dedicated forensic investigations unit to handle complex financial investigations. ACC Director General, Paulus Noa, told...
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Pupkewitz Motors starts apprenticeship training with NTA
Pupkewitz Motor Division and Namibia Training Authority (NTA) recently signed an Apprenticeship Memorandum of Agreement in Windhoek to enhance access to training opportunities,address youth...
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Horticultural Producer of the Year set for September
The 2018 Horticultural Producer of the Year will be crowned on 26 September. The award is part of the National Horticulture Day, which is organised during September each year by the Namibian Agronomic...
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Govt gazettes minimum wage for construction sector
Construction workers will now receive a minimum wage of N$16.94 per hour following the promulgation of the Collective Agreement that determines the minimum wagepayable and employment conditions in the...
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Billions for railway upgrades
Government is set to spend at least N$5 billion in upgrading the country’s railway network over the next three financial years, according to the Ministry of Works and Transport budget documents. The...
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Garments factory on cards
Ten years after Malaysian Textile Company Ramatex collapsed, government is planning to set up garment manufacturing companies at a cost of N$189 million, the 2018/2019 budget document shows. Although...
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Namibia looks at setting up barcode centre
The Namibia Trade Forum (NTF) is investigating the idea of setting up a GS1 Barcode Centre for Namibia, which is expected to make it easier for locally manufactured products to land on shelves both at...
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Business index breaches 50 point mark
The IJG Business Climate Monitor improved to 50.99 points in February, the Institute of Public Policy Research said this week. This is the first time since December 2016 that the index has been above...
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Alweendo charms mining industry
Mines and Energy Minister, Tom Alweendo, said Government may scrap requirements for black economic empowerment in the mining sector as it seeks to woo investors to an industry that is rebounding with...
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TransNamib sceptical of PPPs
TransNamib Chief Executive Officer, Johny Smith, says he is sceptical about proposals by private companies to lease some of the parastatal’s railway lines as is the case in some countries like Uganda...
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KPMG official duped BoN over SME Bank money
The Bank of Namibia (BoN) hired troubled South African accounting firm, KPMG, to help trace funds allegedly invested in South Africa by the now defunct SME Bank, the Mail and Guardian reported this...
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Fuel storage facility to go through tender
Interested parties to manage the Bulk Fuel Storage Facility at Walvis Bay will be called to submit their tender bids once the Cabinet committee looking at the matter maps the way forward, Finance...
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Govt starts work on new EPZ regime
Government is in the process of announcing new regulations that will accommodate companies that have been affected by the decision to repeal the Export Processing Zone (EPZ) regime. Ministry of trade...
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