Economic activity in Namibia took a hit in the second quarter of 2024, as business registrations fell sharply by 34%. Namibia’s business registrations drop by 34% This is compared to the same period last year, official data shows. The registration…
The Brief
–
The Namibia Power Corporation’s (NamPower) 40MW Otjikoto Biomass Power Station is set to inject between N$200 and N$245 million annually into the Oshikoto region’s economy. The investment will come from the procurement of wood chips from local farmers and contractors,…
The Brief
–
The Namibia Power Corporation (NamPower) has awarded a N$1.4 billion contract to a Chinese joint venture to build a 100-megawatt (MW) solar power plant. The engineering, procurement and construction (EPC) contract for the Rosh Pinah photovoltaic (PV) project was signed…
The Brief
–
The Namibian Financial Institutions Supervisory Authority (Namfisa) hosted a three-member delegation from the Securities and Exchange Commission of Zimbabwe. The delegation, headed by director for licensing, supervision, and surveillance Norman Maferefa, aimed to gain insights into Namfisa’s operations, specifically its…
The Brief
–
ORYX Properties says the Maerua Mall renovation and expansion project is now in its practical completion phase, with full completion expected by mid-November. The company says the mall will be fully operational in time for the 2024 December trade season.…
The Brief
–
China General Nuclear Power Group (CGN) has confirmed plans to build Namibia’s largest seawater desalination plant.This will be in collaboration with NamWater, following approval from the Namibian government. According to NamWater, the joint venture will involve CGN’s Namibian subsidiary, Swakop…
The Brief
–
Savanna Beef has secured a lucrative contract with global food giant GPS Food Group. This ensures a steady market for its products and provides valuable support for optimising production processes. According to Savanna Beef chairperson Mecki Schneider, a sales and…
The Brief
–
Vetumbuavi Mungunda has been appointed as the new chairperson of Namibia Breweries (NBL). Mungunda takes over from Roland Pirmez, who has been part of the NBL board since his appointment in 2015. A former chief executive of SBN Holdings, Mungunda…
The Brief
–
THE organisers of the recent Youth in Oil and Gas Summit have announced plans to establish a formal youth-led oil and gas association by next year. This was announced at the summit, held at Walvis Bay on 27 July. Justina…
The Brief
–
The Common Monetary Area (CMA) is set to introduce a dedicated retail payment system for cross-border transactions. CMA countries, comprising South Africa, Eswatini, Lesotho and Namibia, are also part of the Southern African Customs Union (Sacu). The cross-border payment system…
The Brief
–
The Road Fund Administration (RFA) says it has allocated N$430 million to supporting local authorities’ road infrastructure. The announcement comes after a stakeholder consultation workshop held in November 2022, which highlighted the need for increased funding of local road maintenance.…
The Brief
–
President Nangolo Mbumba has met with Namibian bank executives to address concerns over high interest rates, excessive charges and services. He highlighted the importance of public sentiment, emphasising the persistent complaints about the banking sector at the meeting, which was…
The Brief
–
