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Oshakati Hospital Commissions New Hemodialysis Machines
By: Ludorf Iyambo On Friday, Minister of Health and Social Services, Dr. Kalumbi Shangula, officially commissioned a new Dialysis Unit equipped with 15 hemodialysis machines at the Oshakati Intermediate Hospital. Shangula highlighted the long-standing need for renal dialysis services in the area, noting that patients had previously been required to travel great distances to […]
Namport Mandates Local Participation in the Oil and Gas Sector
By: Hertha Ekandjo The Namibia Ports Authority (Namport) has implemented a policy requiring all service providers in the oil and gas sector, looking to establish operations at the country’s ports, to include Namibian participation. This initiative aims to facilitate skill transfer to local professionals. Nangula Hamunyela, Chairperson of Namport’s Board of Directors, announced this […]
Golden Visa Programme Faces Delays Amid New Migration Law
By: Justicia Shipena The government’s Resident By Investment Programme, aimed at raising N$50 billion through a “Golden Visa” initiative, is currently behind schedule, according to the Namibia Investment Promotion and Development Board (NIPDB). The programme is a key component of the economic pillar of the Harambee Prosperity Plan II and was assigned to NIPDB […]
Namib Mills Faces Loss Following Instant Porridge Recall
By: Hertha Ekandjo and Loise Shiimi Namib Mills says it expects to suffer substantial financial losses following the recall of its Top Score instant porridge, after an incident in South Africa where two minors tragically died. While it is still too early to provide exact figures, the company’s Senior Brand Manager, Marné Bouwer, said […]
Govt Debt Reaches N$157.6 Billion Amid Economic Challenges
By: Hertha Ekandjo The government debt has surged by 8.3%, reaching N$157.6 billion at the end of June 2024, driven primarily by increased issuance of Treasury Bills (TBs) and Internal Registered Stock (IRS), alongside a rise in external borrowing. This rise in external debt is largely attributed to recent loans from the KFW Development […]
Current Laws Lack Clarity on Green Hydrogen Definition – Alweendo … minister warns of potential hurdles in global markets without standardisation
By: Justicia Shipena – New York, USA Mines and Energy Minister Tom Alweendo has emphasised the urgent need for specific legislation to regulate the growing green hydrogen industry. Speaking at the Namibia Green Hydrogen Forum in New York, Alweendo said the current legal framework lacks clear definitions for green hydrogen, a gap that […]
Namcor Repays Half of N$1,1 Billion Debt
By: Staff writer Namcor says it has spent N$550 million to settle some of its N$1,1 billion debt to international oil seller Gunvor. This comes after the company received a N$1.2 billion lifeline from state coffers. Namcor said the bailout helped it restore its financial credibility and strengthen relationships with trading partners. In […]
More Than 600,000 Micro Lending Loans Issued in 2023
By: Nghiinomenwa-vali Erastus Registered microlending entities in Namibia issued a total of 665,290 new loans with a combined value of N$3.6 billion in 2023. This represents a slight increase of 0.8% compared to the previous year, according to the Namibia Financial Institutions Supervisory Authority (Namfisa) 2023 annual report, released last week. There are […]
Almost N$1 Billion Switched From GC25 Bond
By: Nghiinomenwa-vali Erastus Investors in the GC25 Bond, maturing in October 2025, have moved N$944.9 million of their investment into other long-term government debt instruments. This shift means some investors have chosen to extend their lending to the government, opting to receive interest payments twice a year on new bonds. The transfer follows […]
Namib Mills Probes Recalled Instant Porridge
By: Hertha Ekandjo Namib Mills is investigating the recall of its Top Score vanilla-flavoured instant maize porridge in South Africa following the tragic deaths of three children who consumed the product. The recall was reported in South Africa on Friday. Namib Mills’ Senior Brand Manager, Marné Bouwer, confirmed the company is aware of […]