President Hage Geingob has reduced his international trips from 74 days last year to 41 days this year – reducing his potential subsistence and travel (S&Ts) allowance to around N$715 000. The president’s biggest S&T source is N$210 200 from his 11-day stay in New York and 14-day stay in Dubai, which qualified him for...
British billionaire Jim Ratcliffe has agreed a deal to buy a 25 percent stake in Manchester United for about $1.3 billion, vowing to return the Premier League club to the “top of world football”. United also announced in a statement on Sunday that Ratcliffe’s INEOS company would take control of football operations after years of...
Martin Endjala The latest Bank of Namibia Quarterly Bulletin for December 2023 reported that annual growth in broad money supply has experienced a moderate increase of 7.9 percent. This growth has been primarily driven by a significant surge in Net Foreign Assets of the depository corporations. However, during the same period, Private Sector Credit Extension...
By Samuel Linyondi The 2023 United Nations’ Sustainable Development Goals (SDGs) Report found that around 2.4 billion working-age women are not afforded equal economic opportunity worldwide. Published by the United Nations in 2015, the SDGs are a collection of seventeen interlinked objectives designed to serve as a shared blueprint for peace and prosperity for people...
Eight out of every 10 children in Namibia do not have enough water to meet their daily needs. Namibia has been named one of the most impacted countries along with Niger, Jordan, Burkina Faso, Yemen and Chad. This is according a United Nations Children’s Fund (Unicef) report titled ‘The Climate Change Child’, which was released...
Namibia Asset Management expects its earnings to increase between 15 percent and 25 percent for the year ended 30 September, the company announced this week. The company announced that Earnings per share (EPS) and headline earnings per share (HEPS) for the year ended 30 September 2023 are expected to increase between 15 percent and 25...
Chamwe Kaira The restart of production at the Langer Heinrich Mine builds on the 10-year production history of the asset. The project has reserve life to support 17 years of operations with annual peak production representing around 4 percent of annual global uranium production. Paladin Energy Ltd’s chairman, Cliff Lawrenson has said its plans are...
Martin Endjala Namibia’s annual inflation rate stood at six percent for October 2023, this is an increase compared to the 5.4 percent year-on-year (y/y) rate recorded in September 2023. This marks the third consecutive increase since the 4.5 percent y/y deceleration observed in July 2023. According to Simonis Storm Security Economist Halleluya Ndimulunde on Friday,...
Namibian investors hold a 4.3 percent stake in Shoprite, according to the 2023 Integrated Report. Shoprite Holdings Limited’s international shareholders also include 47.4 percent from the USA, 16.7 percent from Hong Kong, 13.6 percent from the UK, and 5.8 percent from Luxembourg. Additional investors, totaling 13.2 percent, hail from countries such as Belgium, the Netherlands,...
Martin Endjala The Construction Industries Federation of Namibia (CIF) has announced an increment of nine percent in minimum wages once the proposal is gazetted by the government through the Ministry of Labour, Industrial Relations and Employment Creation. CIF Chief Executive Officer Bärbel Kirchner, told this publication yesterday that they have reached an agreement with Metal...