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News / Page 18
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 […]
ReconAfrica Targets 3.1 Billion Barrels of Oil in Namibia’s Naingopo Well
By: Justicia Shipena Canadian oil and gas exploration company, Reconnaissance Energy Africa (ReconAfrica), is set to tap significant potential in its Naingopo well located northeast of Namibia. The anticipated yield from this exploration effort is estimated at 3.1 billion barrels of oil. On Monday, ReconAfrica, in collaboration with its joint venture partner, the […]
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, […]
NAMCOR Assesses Caltex’s Return to Namibian Market
By: Hertha Ekandjo The National Petroleum Corporation of Namibia (NAMCOR) has acknowledged the return of Caltex to the Namibian market and is currently conducting assessments to understand the particulars of this transition. NAMCOR informed The Villager that Caltex will be operating under the Bachmus umbrella, similar to the model seen with Vivo Energy, […]
Namibia to Honour Eurobond Debt
By: Justicia Shipena The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, announced that Namibia has implemented measures to fulfill its Eurobond obligations. This statement was made during his meeting with representatives from the London Stock Exchange on Thursday. In his address to bankers, analysts, and representatives of the London Stock Exchange, !Gawaxab […]
Construction Sector Implements Mandatory Pension Fund Requirement
By: Hertha Ekandjo The Namibian Building Workers Pension Fund (NBWPF) has enforced the provision of a pension fund for all employees within the construction sector. This new requirement is outlined in a recently signed Collective Agreement between the Construction Industries Federation of Namibia (CIF) and the Metal and Allied Namibian Workers Union (MANWU), which […]
NamPower Receives Major Share of Government Electricity Subsidies
By: Justicia Shipena The Namibia Power Corporation (NamPower) will receive the largest portion of the funds the government has allocated for electricity subsidies. This development follows the Electricity Control Board’s (ECB) cancellation of scheduled electricity tariff increases after the government provided N$365 million to subsidise electricity consumers for the 2024/2025 financial year, effective from […]
No SOE Has Submitted 2023/2024 Financial Report
By: Hertha Ekandjo The Ministry of Finance has expressed growing concern as none of the public enterprises have yet submitted their financial reports for the 2023/2024 financial year. According to regulations, public enterprises are required to submit their financial metrics within six months of the end of their financial year, a deadline that […]
Caltex Return To Heighten Fuel Market Competition
By: Nghiinomenwa-vali Erastus The fuel retailing and distribution sector in Namibia is poised for increased competition with the return of the Caltex Retailing Brand under Chevron Corporation. Chevron announced on Tuesday its re-entry into the Namibian Orange Basin after two decades. The statement revealed that the Caltex brand resurfaced after Chevron Corporation’s subsidiary entered […]