Bank of Namibia Concludes Inaugural Monetary Policy Strategy Session

Bank of Namibia Concludes Inaugural Monetary Policy Strategy Session

The Bank of Namibia has concluded its inaugural Monetary Policy Strategy Session, aimed at enhancing the understanding and implementation of monetary policy. The session, attended by key stakeholders such as the Monetary Policy Committee, Board members, and essential staff, provided valuable education and insights into the intricate process of policy formulation. Naufiku Hamunime, the Acting Director of Strategic Communications and International Relations at the Bank, highlighted the significance of this […]

February 20, 2024 9

Business / Economics

20 February 2024 Morning Biz News: “Namibia Seeks Higher Diamond Stake in De Beers Negotiations, Rand Faces Decline Amidst Economic Anticipation, and Naira Hits Record Lows: A Snapshot of Current Financial Dynamics”

Namibia is actively engaging in negotiations with De Beers to secure a higher percentage of diamonds extracted within its borders. Currently, Namibia retains 15% of diamonds mined by Debmarine and Namdeb for value addition under the existing agreement. With this arrangement set to conclude in 2026, Mines Minister Tom Alweendo has revealed ongoing discussions to potentially increase the country's share of diamonds. The South African rand faced a decline against […]

February 20, 2024 20

Namibia

Blacklisting Recommended for Company Accused of Tender Irregularities

The Finance and Public Enterprises ministry review panel has recommended that the Oshakati Town Council apply for the blacklisting of Truth Investments CC, a company accused of using false certificates to secure a N$7.3-million road upgrading tender. The company, owned by Jafet Mvula, allegedly submitted false documents to win the tender in August last year. The review panel's order, dated December 4, 2023, advises the council to apply for the […]

February 20, 2024 8

World

Two police officers and paramedic dead in Minnesota shooting

Two police officers and a paramedic have been killed and another officer injured in a shooting in the US state of Minnesota after responding to an incident at a family home. The gunman, who was barricaded inside his Burnsville home with seven children, opened fire as officers tried to negotiate with him.

February 20, 2024 11

South Africa

EFF in Gauteng Criticizes Premier Lesufi for Unfulfilled Promises

The Economic Freedom Fighters in Gauteng has accused Premier Panyaza Lesufi of failing to deliver on promises made to the province's residents. The party claims that commitments, such as accelerating economic recovery, combating crime, improving living conditions, and reducing unemployment, remain unfulfilled. The EFF is demanding a comprehensive update on last year's promises, especially regarding the high unemployment rate and increasing crime levels. Nkululeko Dunga of the EFF invites residents […]

February 20, 2024 5

South Africa

Disaster Relief Efforts in Nongoma After Severe Thunderstorm

The KwaZulu-Natal Department of Co-operative Governance and Traditional Affairs reports that disaster teams are actively providing relief in Nongoma after a weekend thunderstorm left widespread devastation. The severe storms, accompanied by heavy rain, caused damage to homes and public infrastructure, including schools, community halls, churches, and Eskom power lines. According to the department's spokesperson, Siboniso Mngadi, 78 homes were damaged, and over 600 people have been affected. Emergency efforts are […]

February 19, 2024 25

Namibia

Northern Traditional Authorities Laud President Geingob’s Legacy

Ndilimani Herman Iipumbu, the chairperson of northern traditional authorities, has praised President Hage Geingob as a liberation struggle icon and an experienced leader who fostered unity without discrimination. Speaking at a special regional memorial service at the Ongwediva Trade Fair Centre, Iipumbu highlighted Geingob's role in implementing land rights and empowering traditional authority leaders, with emphasis on direct reporting and immediate feedback. Additionally, he commended Geingob's efforts to prevent tribalism […]

February 19, 2024 16

World

Potential breakthrough in talks between protesting farmers and Indian government.

Protesting farm unions in India have extended the pause on their protest for another two days, after a fourth round of talks with central ministers offered the potential of a breakthrough. For a week, thousands of farmers have been held off from marching to New Delhi in the north Indian region of Punjab. Last week farmers clashed with security officials, who used tear gas shells to stop the farmers 200 […]

February 19, 2024 12

Namibia

Tragic Gender-Based Violence Incident Highlights Victim’s Stance

Helen Onesimus, the woman allegedly stabbed to death by her husband in Rocky Crest, Windhoek, last week, had expressed strong opinions on gender-based violence (GBV). Onesmus, now a victim of suspected GBV, had previously shared a post on social media in 2019 condemning the normalization of abuse by some men. The post emphasized that violence escalating to murder should not be labeled as "passion killing" as there is nothing passionate […]

February 19, 2024 16