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Auditor General Raises Concerns OverKavango East Regional Council’s Finances
By:Annakleta Haikera The Auditor General, Junias Kandjeke, has identified several concerns related to the financial records of the Kavango East Regional Council for the fiscal year ending in March 2019. In granting the regional council an adverse audit opinion, Kandjeke found that the financial reporting framework employed by the Kavango East Regional Council is not […]
Kandjeke Issues Disclaimer Audit Opinion for Opuwo Town Council
By: Uakutura Kambaekua – OPUWO AUDITOR General Junias Kandjeke has released a disclaimer audit opinion for the Opuwo Town Council for the financial years ending on June 30, 2019/20 and 2020/21. This decision came after the council failed to provide sufficient and credible evidence to assess the audited statements. The Town Council’s latest audit report […]
Africa Development Bank Pumps N$9 Million Into Namibia
By:Hertha Ekandjo Namibia has secured a N$9 million grantfrom the Africa Development Bank (AfDB) to kickstart putting together of the country’s Investment Plan for the design of its Nature, People and Climate (NPC) Programme. The funding was secured through the Climate Investment Fund (CIF) from various multilateral development banks, which are AfDB, World Bank and […]
Central Bank Reprimands Commercial Banks Over Profit Shifting
By:Shipena The Bank of Namibia (BoN) has issued a stern warning to commercial banks over profit shifting. “Banks were informed that the Bank of Namibia will not entertain profit shifting and transfer pricing practices, which are done via service level agreements with the parent institution,” said central bank Governor Johanness !Gaxawab. He said this at […]
Economic Growth Projections Hold Steady Amidst Policy Changes
By: Justicia Shipena Despite tightening monetary policy, Namibia will meet its economic growth forecasts this year, according to Floris Bergh, Chief Economist at Capricorn Asset Management. This comes as Namibia’s central bank chose to maintain the monthly policy rate at 7.75% for the next two months following periods of hikes. The Bank of Namibia (BoN) […]
Access to Deposits Preserved Despite Trustco Bank’s Suspension
By:Justicia Shipena Despite the Bank of Namibia’s (BoN) temporary suspension of Trustco Bank, clients would retain access to their deposits. Trustco Bank’s ability to function as a financial institution was suspended with immediate effect by BoN on Friday. The suspension came after the central bank met with the Minister of Finance and Public Enterprises, Ipumbu […]
All Eyes On BoN: To Raise Or Not To Raise
By:Justicia Shipena The Bank of Namibia (BoN) Monetary Policy Committee (MPC) is expected to announce its decision on the repo rate on Wednesday as inflation has slowed. This comes amidst questions of whether the BoN will follow South Africa’s lead and pause interest rate hikes. The MPC in June this year raised the repo rate […]
The Green Scheme Projects: Re-evaluate to Determine Best Possible Modalities in Namibia
By:Josef KefasSheehama The Namibia Agriculture Policy is the overarching policy and can serve as a base for aligning existing policies, laws, and regulations. The policy presents a framework for the design of programmes and projects that will steer the performance of the sector. The Namibia Merchandise Trade Statistics Bulletin revealed that Namibia imported N$340.8 million […]
Insurance Association Introduces Agriculture/Livestock Insurance ….N$30 million budgeted
By:Hertha Ekandjo The Namibia Special Risks Insurance Association (Nasria), through its Namibia Agriculture Insurance Scheme (NAIS), will soon roll-out its agriculture climate change risk insurance solution to the agriculture sector. The risk insurance solution is a tool aimed at proactively preserving farmers’ wealth, promoting recovery and rebuilding towards a sustainable agricultural production. This is a […]
Building generational wealth: Simple strategies for securing your family’s financial future
By: Laurencia Prinzonsky We all strive to give our children the best we can, and building generational wealth is one way to help them on their journey to financial well being. Generational wealth means making smart choices with our money in a way that gives the next generation a stronger financial footing. For many, this […]