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NAM-MIC Issues 655,937 Shares to 522 Beneficiaries
By: Justicia Shipena The Namibia Mineworkers Investment Holdings Company (NAM-MIC), through its Just Transition Trust (JTT) Namibia Limited, has reached a significant milestone by issuing 655,937 shares to 522 shareholders. This announcement was made during the transition of JTT to Just Transition Investment, which now operates as a public company. Joshua Kaitungwa, CEO […]
June Records Improved Export Earnings and Trade Deficit
By: Justicia Shipena Namibia recorded a notable improvement in trade performance in June 2024 with a 37.4% increase in export earnings, rising from N$9.4 billion in May 2024 to N$12.9 billion. According to the Namibia Statistics Agency (NSA), this surge was driven primarily by the mining and quarrying sector, which contributed significantly to the […]
Business Sector Sees 0.5% Year-on-Year Growth in June
By: Staff writer The business sector experienced a 0.5% year-on-year (y/y) growth in June, a significant slowdown from the 4.7% y/y recorded in May 2024, yet still above 2023 levels. Analysis from Simonis Storm Securities’ Halleluya Ndimulunde reveals this as the second slowest credit growth uptake for corporates in 2024. Ndimulunde attributed this declaration to […]
Naloba Appeals to Mbumba to Cancel Local Businesses’ Tax Debts
By: Justicia Shipena The Namibia Local Businesses Association (Naloba) has appealed to President Nangolo Mbumba to pardon all local businesses’ tax debts, allowing them a fresh start. This plea was made during a meeting at State House late Wednesday afternoon, aiming to address critical issues affecting the country’s economy and the livelihood of its […]
High Input Costs Threaten Pork Industry Growth Amid Declining Imports
By: Hertha Ekandjo Local pork farmers face significant challenges that hinder the industry’s growth and sustainability. On the one hand, there is a huge opportunity to supply pork to the local market due to heightened demand driven by the sharp decline in pork imports over the past few years. On the one hand, […]
Cancer Cases on the Rise, Averaging 4,300 Annually … prostate cancer remains the most common cancer in Namibia
By: Nghiinomenwa-vali Erastus The Cancer Association of Namibia (CAN) has reported a significant increase in cancer cases, with an average of 4,300 new cases annually, up from 3,700. This information was highlighted in a statement released by Bank Windhoek during the launch of its Cancer Apple Project, which raises funds for CAN’s outreach […]
2.6 Million Kilograms of Pork Imported in 5 Months…Germany leading supplier
By: Nghiinomenwa-vali Erastus From January to May 2024, Namibian consumers imported 2.7 million kilograms of pork through their retailers, according to monthly statistics from the Livestock and Livestock Product Board of Namibia (LLPBN). A significant portion of this pork was sourced from Europe, particularly Germany and Spain. These two European countries collectively supplied […]
Zambezi Bream Becoming a Scarce Commodity
By: Frans Siengela Residents of the Zambezi region have expressed concerns about the scarcity of bream, the region’s staple dish, as the river dries up. The scarcity of the Zambezi bream is also attributed to overfishing. The Zambezi bream trade, a crucial source of income for many villagers, especially women who buy directly from […]
Transport Records Highest Inflation Rise Despite Unchanged Fuel Prices
By: Staff Writer Transport costs experienced the sharpest annual inflation increase, rising from -0.1% year-on-year (y/y) in June 2023 to 8.3% y/y in June 2024, according to the Namibia Statistics Agency (NSA). This surge reflects higher expenses associated with the operation of personal transport equipment, notably petrol and diesel, despite stable fuel prices […]
Big Corporations Stifle New Market Entrants
By: Nghiinomenwa-vali Erastus Investigations conducted by the Namibia Competition Commission (NCC) in three separate sectors have revealed that new entrants in the economy are being kept out or driven out of the market by existing companies in an anti-competitive manner. Last week, the Commission exposed coercive behaviour and misuse of dominance by established companies, […]