Three years ago, the Bank of Namibia (BoN) took more than a day to finalise payments to government contractors. Today, similar transactions are completed in less than two minutes, thanks to the introduction of artificial intelligence (AI) technologies. Instead of…

As the year winds down, we take a look back at some of the business stories that caught the attention of the nation. Shiimi’s tax relief Minister of finance and public enterprises Iipumbu Shiimi announced a tax relief during the…

About 25% of Namibians who earn an income can only afford to spend N$521 on goods and services a month, a research firm has said. Meanwhile, 1% of income earners can afford to spend 76 times more (N$40 000 monthly).…

Namibians bought goods worth N$162 million from electronic retailers (e-tailers). This was mostly from Shein, the Apple Store, Herbalife and Avon. According to the Bank of Namibia’s (BoN) third quarterly report, the goods demanded by Namibians from e-tailers mainly cover…

TransNamib Limited Holdings is set to continue making losses in the next three years. This follows as the government pumped N$300 million of taxpayers’ money into the company this year to cover its day-to-day operations. Speaking during a media engagement…

In the last year, business registration in the country has declined by 34%. This is for both close corporations and proprietary limited companies. According to the Bank of Namibia’s quarterly report, registration of businesses serves as a leading indicator for…

Namibia need to build better capacity in offshore catering to fully benefit from the opportunities created by the oil and gas industry, a survey shows. Currently, catering companies do not have the capacity to provide offshore catering services for the…

Minister of mines and energy Tom Alweendo warns that if oil and gas resources are not used to benefit every one, it might increase the gap between the rich and the poor. Speaking during the launch of the Industrial Baseline…

FIRST National Bank of Namibia (FNB) has become the first bank to issue Basel III compliant Tier 2 capital notes worth N$500 million in Namibia. Tier 2 capital notes are electronic securities that are traded on financial markets, such as…

AS of the end of September, Namibians (individuals and businesses) had deposited N$148.3 billion into different bank accounts. This is an increase of N$13.4 billion compared to the same time last year, according to to the Namibia Statistics Agency third…

As of the end of September, Namibians (individuals and businesses) had deposited N$148.3 billion into different bank accounts. This is an increase of N$13.4 billion compared to the same time last year, according to to the Namibia Statistics Agency third…

The Bank of Namibia (BoN) has launched its three-year strategy with a focus on digitalisation, inclusivity and emerging industries. BoN spokesperson Naufiku Hamunime says the new strategy will look at three main goals: Adopting advanced digital tools to build a…