By Rendy Petrus Amwaalwa & Karischa Schmidt Namibia recently marked its 34th Independence Anniversary, a testament to its journey of growth and transformation. Central to this evolution is the country’s burgeoning mining and energy sector, poised to drive significant economic expansion. With promising prospects in oil, renewable energy, and mineral resources, Namibia stands on the...
Sanlam has launched its “Extra Roadshow” setting the stage for an extensive stakeholder engagement campaign. The roadshow will traverse key towns including Walvis Bay, Luderitz, and Omuthiya, aiming to educate and engage the public on the financial solutions provided by Sanlam, with a particular emphasis on the newly enhanced benefits of the Sanlam Extra Rewards...
By Angelique Peake and Olavi Hangula “Implementing a robust local content policy in the oil and gas industry isn’t just about extracting resources; it’s about empowering local economies and fostering sustainable growth. By prioritising local manufacturing and supporting sectors, we not only fuel industrial development but also cultivate a thriving ecosystem of opportunity and prosperity...
Trustco Group Holdings Limited has announced that Riskowitz Value Fund (RVF), a US-based fund, has entered into a six-month non-exclusive agreement to invest up to N$1.9 billion of hybrid capital into Trustco. “RVF’s proven track record and in-depth understanding of global markets make them a valuable asset as we explore strategic investment opportunities,” said Quinton...
The Namibian economy is projected to slow down in 2024 before improving marginally in 2025. The domestic economy is estimated to decelerate from 4.2 percent in 2023 to 3.7 percent in 2024 before improving to 4.1 percent in 2025. “The projected slowdown is largely on account of weaker global demand and slower growth in the...
Growth in key mining industries in Namibia is estimated to decrease in 2024 mainly due to a myriad of issues including low production, water interruptions and declining international prices. According to the Bank of Namibia, growth for diamond mining is estimated to decrease significantly in 2024, partly dampened by low production on the back of...
In alignment with its Strategic Plan, the Bank of Namibia remains steadfast in its mission to drive digital and financial inclusion across all sectors of Namibian society with initiatives such as the Instant Payment Solution, the Central Securities Depository (CSD) Project, and the exploration of Central Bank Digital Currencies (CBDCs) driving the Bank’s agenda towards...
President Nangolo Mbumba has urged the most recent graduates from University of Namibia (UNAM) to, in the absence of work, harness their entrepreneurial spirit and visionary mindset to create new opportunities, challenge the status quo, and pioneer innovative solutions to address the complex challenges facing our societies. Mbumba who was speaking at the Windhoek Campus...
Over 90% of Namibian depositors are covered under the Deposit Guarantee Scheme which aims to protect depositors from the loss of their deposits by compensating them in the unlikely event of a commercial bank failure. The Scheme adopts a guaranteed coverage limit of N$25,000 which is currently in effect. The Namibia Deposit Guarantee Act, 2018...
The new EIF green concessional loan facility for youth entrepreneurs wishing to undertake economically viable investments that integrate low carbon and climate adaptation instruments is expected to grow and deploy N$300 million in the 2024/2025 financial year. This is contained in EIF’s annual report for the 2022/2023 financial year released last week. “The establishment of...