Bank of Namibia Launches Instant Payment Project

Today, the Bank of Namibia is set to unveil its Instant Payment Project, aiming to introduce faster and more efficient payment transfers. Instant payments, credited to accounts within ten seconds of processing, offer a swift alternative to traditional methods. Deputy Minister of Finance Maureen Hinda-Mbuende highlights the significance of this initiative, which aligns with global trends towards real-time financial transactions.

April 26, 2024 75

Namibia

Namibia Progressive Party Proposes Mines to Alleviate Housing and Unemployment Crisis

Penda Negonga of the Namibia Progressive Party suggests that mines could contribute over N$36 million annually to address the country's housing crisis, potentially mitigating unemployment. Negonga hints at exploring additional contributors for a "Development Tax" to support further solutions.

April 26, 2024 23

Business / Economics

26 April 2024 Morning Biz News: Economic Insights: Tourism Boost, Corporate Deals, Regulatory Clarity, and Currency Trends

By Leonard Witbeen Tourism Sector Vitality: Namibia's tourism sector emerges as a cornerstone of economic vitality, with direct contributions amounting to 6.9% of the GDP, totaling N$14.3 billion. The recently released 2022 Namibia Tourist Satellite Account Report sheds light on the sector's robustness, revealing its employment of 57,277 individuals, constituting 7.9% of the country's total workforce. Corporate Merger Scrutiny: South Africa's government closely examines BHP Group's proposed acquisition of Anglo […]

April 26, 2024 21

South Africa

South Africa’s D.A has raised alarm over Eskom’s massive diesel consumption

South Africa's D.A has raised alarm over Eskom's massive diesel consumption, surpassing the annual budget of the National Student Financial Aid Scheme. National spokesperson for Public Enterprises, Mimmy Gondwe, points to minister Pravin Gordhan's revelation that Eskom spent 65-billion rand on diesel over five-years for its open cycle gas turbines. She criticises the unsustainable levels of diesel usage, attributing it to consumers facing double-digit tariff increases by the National Energy […]

April 26, 2024 21

World

The U.S. Supreme Court’s nine justices have heard arguments on Thursday on the question of former President Donald Trump’s immunity.

The U.S. Supreme Court's nine justices have heard arguments on Thursday on the question of former President Donald Trump's immunity. Whatever opinion they form could have an impact on whether his criminal trials on election interference can go ahead. Caroline Malone reports from Washington.

April 26, 2024 17

Namibia

Communications Regulatory Authority Pursues Tax Reductions for Cheaper Telecom Services

Emilia Nghikembua, CEO of the Communications Regulatory Authority , announces a taxation study aimed at engaging the government to reduce taxes in the telecom sector. The goal is to make data and phone calls more affordable. Cran is also conducting a pricing study for voice clips, SMSes, and data to determine mobile service prices, with regulations to follow once completed. Stakeholder engagements have begun, with some licensees already reducing prices. […]

April 26, 2024 10

South Africa

S.A’s union Cosatu welcomes the agreement reached by the South African Post Office with unions to temporarily suspend retrenchments

S.A's union Cosatu welcomes the agreement reached by the South African Post Office with unions to temporarily suspend retrenchments. This as the business rescue practitioners have launched an urgent application for assistance from the Unemployment Insurance Fund Temporary Employment Relief Scheme. Cosatu’s, Matthew Parks, says it is fundamental that governments at all levels utilise the Post Office and the Post Bank as their postal and banking service provider, injecting invaluable […]

April 25, 2024 17

World

The UK’s opposition Labour Party says it will re-nationalise large parts of the country’s rail network if it forms the next government

The UK's opposition Labour Party says it will re-nationalise large parts of the country's rail network if it forms the next government. Labour says it'll happen within 5 years if it wins the election, and will be the biggest rail reforms in the UK in a generation. The government says the plans are unworkable and uncosted. But Shadow Transport Secretary Louise Haigh says passengers will benefit.

April 25, 2024 27

Business / Economics

Minister Alweendo Highlights Skills Gap in Mining Sector, Calls for Increased Benefits for Citizens

Minister of Mines and Energy, Tom Alweendo, addressed the Chambers of Mines of Namibia 2024 annual general meeting, emphasizing the lack of specific skill sets generated by Namibia's mining economy. Alweendo stressed the need for tangible benefits from mining to accrue to Namibian citizens, highlighting a disconnect between resource revenue and citizen prosperity. Chamber of Mines chairperson, Zebra Kasete, underscored the importance of research and development in optimizing processing techniques […]

April 25, 2024 29

Leonard Witbeen