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The government’s proposal to increase the retirement lump sum threshold for Namibians from N$50 000 to N$375 000 aims to provide financial relief, but could leave pensioners living as paupers in the long run. This increase was proposed by minister…
Shania Lazarus
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The Government Institutions Pension Fund (GIPF) has paid its retired members N$6.3 billion for the year ended 31 March 2024.Of this, over N$3.5 billion was disbursed as pension benefits. This is, however, a decrease when compared to N$6.9 billion in…
Shania Lazarus
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Namibians lost N$50.7 million to fraudsters in 2024, a N$4.7 million increase from N$46 million in 2023. The majority was lost through electronic fund transfer (EFT) fraud, which made up N$29 million. According to the annual report from the Bank…
Shania Lazarus
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The assets of the Government Institutions Pension Fund (GIPF) have grown to N$167 billion. The fund has received a total of N$4.8 billion in contributions, while N$6.3 billion was disbursed in benefits to active annuitants. Speaking during the launch of…
Shania Lazarus
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At the end of February, Namibia’s debt stock stood at N$165.9 billion. This represents 62% of the gross domestic product (GDP). The International Monetary Fund (IMF) has recommended that an acceptable debt-to-GDP ratio, a common benchmark for developed countries, is…
Shania Lazarus
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The director general of the National Planning Commission (NPC), Kaire Mbuende, has asked policymakers to ensure artificial intelligence (AI) serves as a tool for empowerment rather than exclusion. Speaking during the Bank of Namibia’s annual report launch on Monday, Mbuende…
Shania Lazarus
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The Bank of Namibia (BoN) will be giving N$720 million to treasury in declared dividends. Central bank governor Johannes !Gawaxab says this is the highest dividend since the BoN’s inception. “We have declared a record historic dividend to the government…
Shania Lazarus
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The Bank of Namibia (BoN) pays the government N$720 million today. Minister of finance and social grants management Erica Shafudah announced this during the tabling of the national budget last week. “Dividends to the tune of N$720 million are anticipated…
Shania Lazarus
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Tenderpreneurs are set to have a good year after finance and social grants management minister Erica Shafudah yesterday increased the development budget to N$12.8 billion. This is the money the government allocates for funding its capital projects. “To continue addressing…
Shania Lazarus
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Namibia Breweries Limited (NBL) has committed to support micro, small and medium enterprises (MSMEs) with N$25 million over five years. The company launched its MSME Development Fund in 2024, which will allocate N$5 million annually for the period. NBL manager…
Shania Lazarus
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THE National Petroleum Corporation of Namibia (Namcor) has appointed Victoria Sibeya as its acting managing director effective 1 April. Sibeya replaces Ebson Uanguta, who was in charge since January 2024. “With her extensive experience and leadership in the upstream exploration…
Shania Lazarus
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The Meat Corporation of Namibia (Meatco) and TransNamib will be receiving N$420 million of taxpayers’ money in the new government budget. This was announced during the tabling of the national budget in the National Assembly on Thursday. According to the…
Shania Lazarus
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