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Analysts Warns of Skills Gap in Emerging Industries
By: David Shoombe Economist Salomo Hei has cautioned that Namibia’s emerging industries, such as oil and gas, require a highly skilled workforce, emphasising the need for young people to pursue education in science, commerce, and mathematics. “Industries such as oil and gas need an educated and highly sophisticated labour force. If we don’t push for […]
Local Contractors Can Deliver On Houses – Kambwa Construction
By: Justicia Shipena Local businessman Sheehama David believes Namibian contractors have the expertise and capacity to successfully deliver housing projects but are held back by financial limitations that delay completion. His remarks come after Namibia Housing Enterprise (NHE) handed 64 houses constructed by NHE, the Ondangwa Town Council and David’s Kambwa Construction Company last week. […]
300 Potential Jobs Affected Over Alleged GIPF Investment Decision
By: Uaueza Kanguatjivi Investment company Baobab Capital says over 300 potential jobs will not materialise due to the Government Institutions Pension Fund (GIPF) terminating a N$140 million investment agreement four years ago. The company was deregistered by the Namibia Financial Institutions Supervisory Authority (Namfisa), with its directors accused of conflicting interests, abuse of power and […]
Namibia’s Food Records Trade Surplus
By: Staff writer Namibia recorded a trade surplus of N$264 million on food items after exporting N$1.7 billion worth of food, excluding live animals, while importing N$1.4 billion of the same. The trade surplus was attributed to fish exports which stood at N$1.3 billion, which was mostly exported to Spain, Zambia and Italy. Fish was […]
N$62 Million Spent on Maerua Mall Expansion Project
By: Uaueza Kanguatjivi Oryx Properties has spent N$62.3 million on its Maerua Mall development project thus far, following N$38 million capital expenditure on the project during the six months between 1 July and 31 December 2024. The property firm has also made N$7 million in capital commitments towards the first phase of the Maerua Mall […]
Namdia Mum on Diamond Recovery Details
By: Justicia Shipena Namibia Desert Diamond (Namdia) says it cannot disclose where N$40.6 million worth of stolen diamonds were recovered as part of ongoing investigations. The SOE revealed on Thursday that it had recovered some of the N$314.9 million worth of diamonds that were stolen from its premises in January. “That is part of the […]
GIPF Says It Will Protect Its Assets After Court Loss
By: Uaueza Kanguatjivi The Government Institutions Pension Fund (GIPF) says it remains resolute in protecting its investments and assets and maintaining public transparency. This comes after the High Court last week dismissed the Fund’s urgent application to prevent fund managers Myrtle from selling or liquidating shares it invested over N$400 million of pensioner’s money in. […]
Namibia Running Out of Time on Beneficial Ownership Filing
By: Nghiinomenwa-vali Erastus Namibia’s bid to exit the Financial Action Task Force’s (FATF) greylist is at risk due to delays in implementing beneficial ownership regulations, despite progress on other compliance issues. The country has made strides in addressing 13 issues flagged by the FATF, but the lack of beneficial ownership filings remains […]
Slow Growth of Capricorn’s Loan Book Sparks Concerns Over Future Earnings
By: Staff writer The Capricorn Group’s slow growth of its loan book is raising doubts about its ability to maintain strong earnings, as rising costs and potential margin pressures add to the challenges. The Group’s gross loans and advances increased by N$1.18 billion since 30 June 2024, reaching N$51.8 billion. This growth was […]
Non-Performing Loans Threaten Banks’ Stability
By: Justicia Shipena Economists are warning that the growing volume of non-performing loans (NPLs) in Namibia could destabilise the financial sector and jeopardise banks’ balance sheets. An increasing number of Namibians are defaulting on loans due to affordability challenges, with experts attributing the trend to prolonged economic difficulties spanning nearly a decade. By […]