Sanlam Namibia says its assets increased by N$500 million to N$4.6 billion in 2023 from the N$4.1 billion reported in 2022. The insurance company said it forecasts to pay out nearly N$22 billion in policy liabilities over the next few years. Sanlam Namibia CEO, Tertius Stears, said the company has been performing well with its...
…as N$6.9 billion is paid out to members as benefits The Government Institutions Pension Fund (GIPF) has experienced remarkable growth, witnessing assets climb from N$117.5 billion in 2019 to N$151.8 billion by 31 March 2023, the Fund’s integrated annual report for the 2023 financial year reveals. This represents over 89% of Namibia’s GDP, expresses GIPF...
The Government Institutions Pension Fund’s (GIPF) assets have increased to N$151 billion according to the fund’s 2023 Integrated Financial Report. “As of 2023, GIPF has a total asset value of N$151 billion, of which N$110.7 billion is managed by investment managers, N$1.9 billion are direct investments and N$38.5 billion is GIPF Treasury Portfolio,” GIPF Chief...
Mining explosives provider Beifang Mining Technology Services, a subsidiary of the Chinese arms conglomerate Norinco, says it has paid N$231.8 million in taxes since its existence in 2013. The company’s Chief Executive Officer Fisher Yu said Beifang now boasts an asset investment of N$2.24 billion in Namibia. He revealed this at a Memorandum of Understanding...
Issuance of licence is subject to meeting pre-operating requirements and qualifications for operational approval WadzPay’s Dubai Entity Receives VASP Licence from VARA WadzPay’s Dubai Entity Granted VASP Licence. Poised to Revolutionize Virtual Asset Transactions in Middle East. DUBAI, United Arab Emirates, Feb. 28, 2024 (GLOBE NEWSWIRE) — WPME Technology, the Dubai-based entity of WadzPay, a...
Two directors of a Namibian accounting firm are due to be appointed as the new curators to administer the assets of accused in the Fishrot fishing quotas fraud and corruption case placed under a restraint order in terms of the Prevention of Organised Crime Act. This is after judge Orben Sibeya ordered in the Windhoek...
Staff Reporter HARALD Hecht and Pierre Knoetze have been appointed as the new curators bonis regarding the property restrained by the provisional restraint order issued on 13 November 2020 against properties belonging to the Fishrot accused. The restrained assets include bank and investment accounts, interests in companies and close corporations, immovable properties, nearly 60 motor...
Martin Endjala In a strong move to intensify the fight against corruption, the Anti-Corruption Commission (ACC) has called for companies to disclose their financial dealings, including gross revenue, taxes, royalties, and payments to the government and shareholders. This initiative aligns with the Extractive Industries Transparency Initiative (EITI), a standard that Namibia, through the Ministry of...
High Court judge Orben Sibeya will in about two weeks’ time give a ruling on the appointment of new curators to administer the assets of accused in the Fishrot fishing quotas fraud and corruption case that have been placed under a restraint order. Sibeya heard oral arguments on the appointment of new curators in the...
Staff Reporter WINDHOEK High Court Judge Orben Sibeya has postponed the ruling on who will be appointed as a new curator bonis to oversee the restrained assets of the Fishrot accused to 19 February 2024. This order was given by Judge Sibeya on 31 January 2023, after hearing arguments from the lawyers representing the Prosecutor...