Food and Allied Workers Union Accuses Kavango Supermarket of Labour Act Violations

Food and Allied Workers Union Accuses Kavango Supermarket of Labour Act Violations

Jacob Penda, the general secretary of the Namibia Food and Allied Workers Union, has accused the management of Kavango Supermarket and Bottlestore (Kavango OK Foods) of violating the Labour Act. Penda condemned the recent suspension of 103 workers, stating that the management intimidated employees who had participated in a legal strike earlier this year. The suspensions were reportedly linked to their involvement in an unprotected strike.

October 3, 2024 15

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Business / Economics

AirConnect adds daily flights between Johannesburg and Windhoek

AirConnect Namibia has announced a third daily flight between Johannesburg and Windhoek, starting 27 October 2024. The Namibia Airport Company's Dan Kamati said the new service plans, operated by SAA's A320 fleet, will provide greater flexibility for both business and leisure travelers.

October 2, 2024 23 4

Business / Economics

Financial restructuring strengthens NAMCOR’s performance

The National Petroleum Corporation of Namibia has given an update on its efforts to become a leading energy company. According to Paulo Coelho, Manager of Marketing, Communications, and Public Relations, Namcor is focusing on financial restructuring, improving operations, and accountability to strengthen its performance.

October 2, 2024 33

Business / Economics

Namib Mills responds to allegations following tragic incident in South Africa

Namib Mills has issued a statement regarding the tragic deaths of three children in Mdantsane, Eastern Cape, South Africa, after consuming home-cooked porridge. The company emphasized that there is no evidence linking their Top Score Instant Porridge to the incident. As a precaution, the product has been temporarily withdrawn from markets in South Africa, Namibia, Zambia, and Lesotho while an independent investigation is conducted. In response to the situation, the […]

October 2, 2024 16

Business / Economics

FNB Namibia expects inflation to reach 4.7% in September

FNB Namibia expects headline inflation to increase to 4.7% year-on-year in September from 4.4% in August, mainly driven by rising food and non-alcoholic beverage prices because of the ongoing drought, while transport costs continue to decline. Core inflation is expected to slightly decrease from 3.8% in August to 3.7% in September. FNB Namibia economist Helena Mboti, explains.

October 2, 2024 30

Business / Economics

Trade deficit reaches N$3.6 billion in August 2024

The Namibia Statistics Agency has reported a trade balance deficit of N$3.6 billion in August 2024 which is an increase from N$2.1 billion in July and a decrease from N$4.9 billion in August 2023. Exports were adjusted upward by N$7 million, while imports decreased by N$1 million, mainly due to higher export values of fish and precious stones, according to Namibia Statistics Agency spokesperson Mirjam Shihepo.

October 2, 2024 28

Business / Economics

FNB Namibia expects inflation to reach 4.7% in September

FNB Namibia expects headline inflation to increase to 4.7% year-on-year in September from 4.4% in August, mainly driven by rising food and non-alcoholic beverage prices because of the ongoing drought, while transport costs continue to decline. Core inflation is expected to slightly decrease from 3.8% in August to 3.7% in September. This small drop suggests that, even though overall inflation might temporarily rise, inflationary pressures in the economy are gradually […]

October 2, 2024 31

Business / Economics

Trade Deficit Narrows to N$3.6 Billion in August

In August, trade balance recorded a deficit of N$3.6 billion, an improvement from the N$4.9 billion deficit in August 2023 but higher than the N$2.1 billion deficit in July 2024. Exports saw an upward revision, increasing by N$7 million, while imports were adjusted downwards by N$1 million. The rise in export values was primarily driven by increased sales of fish and precious stones. Namibia Statistics Agency spokesperson, Mirjam Shihepo.

October 2, 2024 19

Business / Economics

2 October 2024 Morning Biz News: Namibia’s Business Landscape: Awards, Financial Highlights, and Global Trends

Namibia Investment Promotion Board Recognized in Global Awards The Namibia Investment Promotion and Development Board has been named runner-up in the 2024 World Trade Promotion Organisation Awards, organized by the International Trade Centre. The board received this honor in the category of "Best Initiative to Ensure that Trade is Inclusive and Sustainable" for its Know2Grow High Potential Pool Programme. This innovative program is designed to assist small businesses in competing […]

October 2, 2024 21