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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Business / Economics

1232 Results / Page 13 of 137

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Business / Economics

Trustco increases stake in Legal Shield

Trustco Group Holdings Limited has announced progress in its plan to acquire an additional 11.35% stake in Legal Shield Holdings from Riskowitz Value Fund LP. This acquisition will raise Trustco’s total ownership of LSH to 91.35%. The transaction, valued at approximately $468 million, includes two insurance companies, covering both short-term and life insurance, as well as real estate assets from the Otrusco Group. These assets include notable developments such as […]

todayOctober 15, 2024 28

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Business / Economics

NWR Updates Shuttle Service in Sossusvlei Area

Starting today, Namibia Wildlife Resorts will change its shuttle service operations in Sossusvlei. The shuttle will no longer operate from the 2x4 area and will exclusively depart from the Sesriem Campsite. Clients with existing bookings to Deadvlei will now be ferried from Sesriem, and new tickets must also be purchased there. NWR encourages guests to plan accordingly and assures that their team is available to assist with any inquiries related […]

todayOctober 15, 2024 19

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Africa

Nigeria’s Belemaoil Resumes Operations at Oil Mining Lease 55 After Three-Year Shutdown

Nigerian independent producer, Belemaoil Producing announced the resumption of operations at its Oil Mining Lease 55, which had been halted for three years due to facility damage caused by theft. CNBCAfrica indicates that the company acquired OML 55, situated approximately 40 km west of the Bonny oil export terminal in a swampy to shallow water area, from Chevron Corp in February 2015. Operations were suspended in 2021 due to rampant […]

todayOctober 15, 2024 4

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Business / Economics

15 October 2024 Morning Biz News: Trustco Expands Stake, JPMorgan Enters Kenya, and Nvidia Stock Soars Amid AI Boom

Trustco Group Expands Stake in Legal Shield Holdings Trustco Group Holdings is set to increase its ownership in Legal Shield Holdings to 91.35%, following a N$468 million deal expected to close by December 31. This acquisition will encompass key assets, including Trustco Insurance, Trustco Life, and a substantial real estate portfolio, with developments like Elisenheim Lifestyle Estate and Lafrenz Industrial Park being part of the deal. JPMorgan Chase Approved for […]

todayOctober 15, 2024 17

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Africa

World Bank Lowers Sub-Saharan Africa Growth Forecast to 3% Amid Sudan Crisis

The World Bank announced on Monday that it has reduced its economic growth forecast for sub-Saharan Africa this year to 3%, down from 3.4%, largely due to the impact of Sudan's civil war on its economy. Reuters says, nevertheless, growth is anticipated to exceed last year's 2.4% rate, driven by increased private consumption and investment, according to the bank's latest regional economic outlook report, Africa's Pulse. Andrew Dabalen, the World […]

todayOctober 15, 2024 9

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Business / Economics

FlySafair launches Cape Town-Windhoek route

South African Civil Aviation Excellence Award winner, FlySafair is set to introduce a new twice-weekly service between Cape Town International Airport in South Africa and Hosea Kutako International Airport, starting on 22 October 2024. Namibia Airports Company Marketing Officer, Dan Kamati has the details.     In addition to FlySafair’s new service, South African Airways is increasing its frequency between Johannesburg and Windhoek. Kamati weighs in on the positive impact […]

todayOctober 14, 2024 44

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Business / Economics

Namibia Special Risks Insurance Association Achieves Record Profit and Growth in Reserves

The Namibia Special Risks Insurance Association has reported a record profit after tax of N$103 million for the period ending March 31, 2024, marking the first time in its history that net profit has exceeded N$100 million. The organization’s reserves rose from N$709 million to N$802 million, reflecting the increased profits earned during the year. NASRIA’s Limited Insurance revenue also grew by 9%, increasing from N$77 million in 2023 to […]

todayOctober 11, 2024 9

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