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The Namibia Grape Company has paid its first dividend of N$10 million to the National Youth Service (NYS). The NYS has said the money will be used to recruit more people and enhance agricultural projects. In a ceremony held yesterday,…
Shelleygan Petersen
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Non-banking financial institutions sector assets are now standing at N$474.1 billion as at the end of December 2024. The sector currently has 1 027 entities and 14 701 intermediaries comprising insurance companies, the medical aid industry, retirement funds, linked investment…
Shelleygan Petersen
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Windhoek residents are paying N$100.39 for a kilogram of beef stew, which is the cheapest in the country. This is according to the Namibia Statistics Agency’s December Consumer Price Index report, which was released yesterday. The report says residents in…
Shelleygan Petersen
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Namibia made N$11.9 billion from rough diamond exports last year, a continued pattern of decline in revenue from the sector. According to the Bank of Namibia’s annual report, this is a 32.9% decrease, primarily due to lower export volumes and…
Shelleygan Petersen
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Namibia will be finalising value added tax legislation (VAT) on imported digital services in the 2025/26 financial year. This is one of the tax policies proposed by the minister of finance and social grants management, Ericah Shafudah, during the recent…
Shelleygan Petersen
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The decision by the United States (US) to impose reciprocal tariffs on trading partner countries has been seen as undermining the African Growth and Opportunity Act (Agoa). This agreement allows sub-Saharan African countries preferential access to the US market with…
Shelleygan Petersen
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The Bank of Namibia has suggested subsidies or zero-rated taxes on all milk products to allow Namibian-made dairy products to compete with those imported. According to the Bank of Namibia’s annual report, subsidies or zero taxes on all milk products…
Shelleygan Petersen
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Namibia faces the risk of losing cheap access to the United States (US) market after US president Donald Trump slapped the country with a 21% tariff on local products. Currently, Namibian products, including beef, lamb, fish, grapes, and blueberries, access…
Shelleygan Petersen
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Namibians spent N$223 million on alcohol imports in February the latest data released by the Namibia Statistics Agency (NSA) shows. Of this amount, N$67.2 million was spent on wine. The wine was imported mainly from South Africa and France. “On…
Shelleygan Petersen
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Due to high interest rates, Namibian banks recorded revenue totalling N$14.5 billion in 2024, an increase of N$1.7 billion from 2023. The majority of this income – N$8.7 billion – came from net interest on loans. According to the 2024…
Shelleygan Petersen
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Namibian banks are currently burdened with N$6.6 billion in bad debt, a consequence of clients struggling to repay their loans This is after giving out loans to the value of N$118.9 billion in 2024. “The non-performing loans (NPLs) increased by…
Shelleygan Petersen
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The United States (US) has decided to increase import tariffs across all trading partners, which includes Namibia which will now pay a reciprocal tariff of 21%. Reciprocal tariffs means the US will impose tariffs on other countries that are equivalent…
Shelleygan Petersen
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