Weekly Economics Wrap: 7-14 November 2024

Weekly Economics Wrap: 7-14 November 2024

Your Weekly Economics Wrap Welcome to this week’s economic highlights, capturing key developments from Namibia, South Africa, across Africa, and on the international stage. Namibia: Access Bank’s Graduate Program & Market Activity Access Bank Namibia recently selected 38 promising graduates to join its highly sought-after Graduate Programme, where they will undergo rigorous training at the bank’s Lagos headquarters. Head of Human Resources Edwina Hashikutuva shared that the program received over […]

November 14, 2024 13

Business / Economics

14 November 2024 Morning Biz News Update: Quiet Local Market Amid Global Economic Shifts

By Leonard Witbeen In the latest market developments, Namibia's local stock market had a relatively quiet session on November 13, with a total of N$1.16 million in value traded. According to the NSX daily report, the local market saw a volume of over 125,000 shares exchanged through 12 deals. While the day’s activity appeared subdued, the year-to-date figures paint a busier picture, with over 22 million shares traded, totaling […]

November 14, 2024 10

Business / Economics

Namra Pays N$75.1 Million in Tax Refunds

The Namibia Revenue Agency recently disbursed N$75.1 million in tax refunds to over 50,000 taxpayers, with individual refunds ranging from N$100 to N$3,000. Namra spokesperson Tonateni Shidhudhu confirmed a third batch of refunds, between N$101 and N$100,000, is set for release prior to the end of this month.

November 14, 2024 24

Business / Economics

NAMCOR Expands Oil Exploration in Orange Basin

The National Petroleum Corporation has announced plans to drill four new exploration and appraisal wells in the Orange Basin, between later this year and early 2025. Working with joint venture partners, NAMCOR aims to build on recent successful oil discoveries and data from advanced seismic surveys. The corporation's Paulo Coelho:

November 13, 2024 30

Business / Economics

13 November 2024 Morning Biz News: Key Business Developments

In this edition of Biz News, we bring you a round-up of some key business developments from across the region and globally, with a focus on growth, innovation, and sustainability. Nictus Holdings Expands with Walvis Bay Acquisition Nictus Holdings Group of Companies has recently announced a significant acquisition: the Build IT branch in Walvis Bay. This move marks a key milestone in the company’s expansion strategy, reinforcing its […]

November 13, 2024 9

Business / Economics

Trustco Group Aims to Become First Namibian Company Listed on Nasdaq

Trustco Group Holdings Limited has officially applied to list its ordinary shares on the Nasdaq Stock Market. The application, submitted on 11 November, is part of the company’s plans to directly list its shares on Nasdaq, alongside its existing listings on the Namibian Stock Exchange and the Johannesburg Stock Exchange. If successful, Trustco will make history as the first Namibian company to be listed on Nasdaq. Trustco's Neville Basson: […]

November 13, 2024 29

Business / Economics

Expert Discusses Financial Challenges Facing Local Authorities

Business and economics researcher Josef Sheehama addresses the financial struggles of local authorities. He points out concerns about poor financial management, inadequate service delivery, and emphasizes the urgent need for improved governance and accountability. Meanwhile, residents of Katutura are intensifying their challenge against the City of Windhoek's decision to block electricity meters of unpaid clients, arguing that it is unlawful. Spokesman Shaun Gariseb comments:

November 11, 2024 21

Business / Economics

South Africa Restarts Cargo Operations at Lebombo Border After Mozambique Fixes Systems

The South Africa Border Management Authority and the South African Revenue Service have resumed cargo operations at the Lebombo border, clearing backlogged shipments after Mozambique restored processing systems at Ressano Garcia. BMA spokesperson Mmemme Mogotsi says BMA commissioner Michael Masiapato confirmed that the port is fully operational for cargo movement: Travelers are advised to stay informed on updates as BMA and SARS ensure secure, efficient border processing

November 11, 2024 28

Africa

Australia’s Resolute Mining Executives Arrested in Mali Over Disputes

The CEO of Australian gold mining company Resolute, Terence Holohan, and two of his executives have been arrested in Bamako, Mali, while in the country to address ongoing disputes with local authorities. As per Voice Of America , the company confirmed that the executives were there to engage with Mali's mining and tax authorities about the company’s business practices and to make progress on claims against Resolute, which the […]

November 11, 2024 21