insert_link Business / Economics 26 July 2024 Morning Biz News: Key Developments Impacting the Market Cabinet Approves Baynes Hydropower Project The Namibian Cabinet has given the green light for the implementation of the bi-national Baynes Hydropower Project. This approval also includes the expedited construction of a road to the project site, set to commence in September. The decision follows a June meeting between Angola’s Minister of Energy and Water, Joắo Baptista Borges, and Namibia’s Minister of Mines and Energy, Tom Alweendo. During the meeting, […] todayJuly 26, 2024 7
insert_link Business / Economics Letshego Bank Namibia Appoints Denver Beukes to Manage Home Loans Department Unlocking home ownership dreams one loan at a time, Letshego Bank Namibia is delighted to announce the appointment of Denver Beukes as its new Home Loans Manager. Beukes, a mortgage lending specialist with over 15 years of industry experience, joins Letshego Bank from 2020 Financial Solutions. This strategic appointment enhances Letshego Bank’s position in the mortgage lending industry, reinforcing its commitment to improving customer service. Beukes will manage […] todayJuly 25, 2024 6
insert_link Business / Economics Egypt raises fuel prices as part of IMF-backed reforms Egypt announced Thursday a 15-percent increase in petrol prices, part of a reform package requested by the International Monetary Fund to proceed with a $5 billion loan to the cash-strapped government. The Egyptian petroleum ministry said the price hike would come into effect on Friday. The announcement comes ahead of an IMF meeting on Monday to review the April payout package, unlocking $820 million in funds after […] todayJuly 25, 2024 8
insert_link Business / Economics Weekly Economics Wrap: 18-July 25, 2024 Namibia Pension-Backed Housing Loans: The Government Institutions Pension Fund (GIPF) is advancing plans for a pension-backed housing loan scheme. The initiative will leverage its subsidiary Kuleni Financial Services and housing loan fund manager First Capital Treasury Solutions. A Memorandum of Agreement is under review by the Office of the Prime Minister, as reported by The Brief. Coastal Desalination Project: NamWater and Husab Mine are set to achieve financial closure […] todayJuly 25, 2024 11
insert_link Business / Economics 25 July 2024 Morning Biz News: NamWater and Husab Mine’s N$3 Billion Desalination Project Nears Financial Closure; Shein Expands with Johannesburg Pop-Up; Eni Sells Nigerian Oil Unit to Oando; Currency and Commodity Markets Update NamWater and Husab Mine Set for Major Coastal Desalination Project NamWater and Husab Mine are poised to achieve financial closure for their ambitious N$3 billion coastal desalination project by year-end, according to The Brief. NamWater CEO Abraham Nehemia confirmed that Husab Mine will cover the construction costs, sparing NamWater the task of independently securing the full N$2.5 to N$3 billion required for the project. Shein Expands with New Pop-Up Store […] todayJuly 25, 2024 9
insert_link Business / Economics Climate activists target airports Climate protestors are promising further disruption to air travel after targeting one of Germany's busiest airports on Wednesday. Trent Murray has the details. Last Generation has called for the German government to engage in a global agreement aimed at ending the use of fossil fuels, such as oil, gas, and coal, by 2030. The group has announced plans for similar "peaceful, civil protests" at airports across Europe and […] todayJuly 24, 2024 5
insert_link Business / Economics O&L Group to prioritise local market and employee welfare Following the Olthaver & List Group's announcement to terminate its franchise agreement with Pick n Pay South Africa by the end of June next year, O&L Executive Chairperson Sven Thieme said that the needs of employees will be a top priority during the transition period. Thieme said the company is shifting towards becoming a more customer-centric and Namibian market-oriented business. todayJuly 24, 2024 52
insert_link Business / Economics World Bank approves $138.5 million energy loan for NamPower Namibia has embarked on its first World Bank-financed energy project, a $138.5 million initiative to strengthen the reliability of its transmission network and integrate more renewable energy into the electricity system. The project will be implemented by NamPower, the national electricity utility, and represents a big step toward a greener and more sustainable future. "Namibia is uniquely positioned as a regional leader in the transition towards a greener future. The […] todayJuly 24, 2024 10
insert_link Business / Economics 24 July 2024 Morning Biz News: Financial Brief: Key Updates on Pension Schemes, Currency Movements, and Commodities GIPF’s Pension-Backed Housing Loan Scheme Gathers Momentum The Government Institutions Pension Fund (GIPF) is poised to enhance its financial offerings with an innovative pension-backed housing loan scheme. This initiative will be facilitated through GIPF’s subsidiary, Kuleni Financial Services, and housing loan fund manager, First Capital Treasury Solutions. The Memorandum of Agreement (MoA) for the scheme is currently under review by the Office of the Prime Minister, as reported by The […] todayJuly 24, 2024 14
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
