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‘FIMA Should Not Threaten Private Sector Pension Funds’… private sector funds irked by lack of clarity on National Pension Fund proposal
Justicia Shipena The Namibian Building Workers Pension Fund (NBWPF) has expressed concern about the lack of clarity regarding the Financial Institutions and Market Act (FIMA) and its potential mandatory preservation requirements of retirement assets. “The fact that we still do not have clarity about FIMA and possible compulsory preservations and that a national […]
Angula Assumes CEO Role at Letshego
By: Staff Writer Former Chief Commercial Officer of Mobile Telecommunication Company (MTC), Melvin Angula, has officially taken on the role of CEO at Letshego Micro Financial Services Namibia. Angula, renowned for spearheading digital transformations and delivering top-notch customer services in the telecommunications sector, is expected to usher in a new era of leadership […]
Trustco Group Sets Sights on N$2.4 Billion Capital Infusion
By: Justicia Shipena Trustco Group Holdings Ltd has outlined plans to raise N$2.4 billion from shareholders, signalling its commitment to harness Namibia’s economic potential. In a media release on Tuesday, the group announced ongoing negotiations with significant investors, underscoring its confidence in Namibia’s promising economic future and Trustco’s proven ability to channel capital […]
Treasury Bills Remain Popular, But Auction Off to a Peculiar Start
By: Nghiinomenwa-vali Erastus Fixed-income assets offered by the government continue to be the preferred choice for capital through auctions by the central bank, given the persistent budget deficit faced by the central government. However, the initial bond auction for the year has seen the government rejecting various bids and obtaining less than its planned […]
BoN Joins Global Coalition to Promote Climate Sustainable Economic Growth
By: Justicia Shipena The Bank of Namibia yesterday announced that it has been accepted into a coalition of central banks dedicated to promoting climate and environmental risk management in the financial industry. Governor Johannes !Gawaxab says the acceptance of BoN into the global Network for Greening the Financial System (NGFS) is a substantial […]
January Financial Strain: Cash Loans See Surge in Loan Applications
By: Justicia Shipena As the New Year unfolds and individuals set their resolutions for 2024, a familiar trend emerges – the Januworry rush to micro lenders, also known as cash loans. This annual phenomenon, marked by a surge in loan applications, sheds light on the financial challenges many face at the beginning of the year. […]
Treasury Bills Attracts More Than Double The Needed Funds
By: Nghiinomenwa-vali Erastus In a recent Treasury Bills auction conducted by the Bank of Namibia, the government found itself flooded with investor interest, receiving N$2.8 billion in offers when it sought only N$1.3 billion. This oversubscription left an additional N$1.8 billion in capital without immediate allocation, as revealed by the auction results. To meet […]
Over 8,000 Taxpayers at Risk of Missing Tax Refunds
By: Justicia Shipena Over 8,000 Namibian taxpayers face the possibility of not receiving their anticipated tax refunds due to missing bank account details in their profiles at the Namibia Revenue Agency (NamRA). NamRA recently announced its scheduled tax refund payments which will benefit 63,150 individual salaried persons and pensioners, set to begin today, 15 December […]
Banking Sector Assets Valued at N$174.6 Billion
By: Justicia Shipena The banking sector in Namibia witnessed a 1,5% increase in total assets value, reaching a staggering N$174,6 billion in the third quarter of 2023. This growth was primarily attributed to rises in cash and bank balances, short-term negotiable securities, and net loans and advances, according to the Bank of Namibia’s Macroprudential Oversight […]
Kelp Blue Pioneers Africa’s First Blue Bonds
By: Justicia Shipena Namibian kelp farmers, Kelp Blue, are set to become the first issuer of blue bonds in Namibia and Africa. The groundbreaking initiative was unveiled at the Namibian pavilion during COP28, marking a significant step towards financing investments in healthy oceans and blue economies aligned with Sustainable Development Goal 14 (SDG 14). Kelp […]