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Finance / Page 6
Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark. This increase, from N$89.0 billion in the current financial year, signals an intention to allocate […]
Increased Transaction Fees and Loan Book Expansion Drive Capricorn Group’s Profits
By: Staff Writer Capricorn Group, the parent company of Bank Windhoek, has reported a substantial increase in profits after tax, amounting to N$827.6 million for the period between July 1st and December 31st last year. This marks an 18.5% surge from the N$698.2 million reported during the same period in 2022. “This represents an […]
Budget Hits N$100 Billion Milestone … cause for celebration or concern?
By: Nghiinomenwa-vali Erastus After fluctuating between N$60 billion and N$86 billion for eight years, the treasury, under the guidance of the central government, has propelled the national budget by approximately N$10 billion, reaching the significant N$100 billion mark. This increase, from N$89.0 billion in the current financial year, signals an intention to allocate […]
Trade Union Eyes Promised Salary Hikes in 2024 Budget
By: Justicia Shipena The Trade Union Congress of Namibia (Tucna) Secretary General, Mahongora Kavihuha, is hopeful that the 2024 national budget will honour the promised salary increments for civil servants. In November last year, the Namibia Public Workers Union (Napwu) announced a monthly salary increase of N$600 for employees in grades 15 and 14, […]
SOEs Have Turned into Financial Parasites – Baumann
By: Justicia Shipena As the National Assembly awaits the tabling of the 2024/2025 national budget today, human rights activist Linda Baumann has criticised the operations of the state-owned enterprises (SOEs) arguing that the entities have now morphed into financial parasites draining the government’s resources. Finance Minister Iipumbu Shiimi is poised to present the […]
Katjimune Calls for Probe into SME Financing Challenges
By: Dolly Menas Lawmaker Maximalliant Katjimune has called upon parliament to launch an investigation into the obstacles surrounding Small and Medium Enterprise (SME) financing in Namibia. Katjimune contends that such an inquiry is essential to enhance access to funding and unlock the economic potential of the sector. SMEs constitute a crucial component of […]
Grey-listing Could Negatively Affect Namibia’s GDP by 6%
By: Staff writer Namibia’s recent grey-listing by the anti-money laundering watchdog Financial Action Task Force (FATF) could have a detrimental impact on the country’s Gross Domestic Product (GDP) by up to 6%. The grey-listing occurred on Friday following a review last week, prompted by Namibia’s failure to implement all 72 recommended actions […]
NSFAF Recovery Campaign Nets Only N$41 Million in Three Years…Publication of defaulters’ names remains a possibility
By: Hertha Ekandjo Since the launch of its national recovery campaign in 2021, the Namibia Student Financial Assistance Fund (NSFAF) has managed to recover approximately N$41 million from over 95,000 beneficiaries who owe the institution. However, out of the vast sum owed to NSFAF, totaling over N$9 billion, only around 4,000 beneficiaries have […]
Analysts Urge Responsible Spending Ahead of Election Year
By: Dolly Menas As Namibia gears up for the upcoming general elections scheduled for November, experts are advocating for prudent government spending, particularly in critical sectors like education and healthcare. Speaking at a pre-budget public discussion on Tuesday, Salomo Hei, Managing Director of High Economic Intelligence (HEI), highlighted the expectation of increased government […]
Bank Windhoek Appoints Ngula as Head of e-Money
By: Staff Writer Bank Windhoek has announced the appointment of Candy Ngula as its new Head of Electronic Money (e-Money). In her new role, Ngula will lead the charge in driving the value of e-Money while overseeing its growth and optimization across the bank’s Retail Banking Services. The appointment was officially announced on […]