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    Josia Shigwedha

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    Josia Shigwedha

Business / Economics

1655 Results / Page 23 of 184

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Business / Economics

Arrests rock NAMCOR: More charged in N$327 million corruption scandal

  The Anti‑Corruption Commission (ACC) has confirmed the arrest of nine individuals, among them four former senior executives of the National Petroleum Corporation of Namibia (NAMCOR), the state-owned petroleum entity, in connection with alleged corrupt dealings that drained more than N$327 million from public coffers. ACC spokesperson Josefina Nghituwamata revealed the charges focus on unlawful credit extensions and a failed N$53 million attempt to acquire fuel storage facilities—facilities already owned by […]

today14 July, 2025

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Business / Economics

Jobless Rate Surge Poses Tax Threat

A spike in unemployment could severely shrink the tax base and weaken government revenue, warns a leading business and economics expert. In a recent interview, Josef Kefas Sheehama explained that fewer taxpayers mean lower collections and greater pressure on welfare spending. He says this cycle could drag down economic growth if urgent solutions aren’t found. 

today14 July, 2025

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Business / Economics

Interview: High Unemployment Puts Pressure on Revenue, Says Sheehama

Business and economics expert Josef Kefas Sheehama says the country’s rising unemployment rate is putting mounting pressure on tax collection, public finances, and overall economic stability. In an exclusive interview, Sheehama explained that while the official unemployment rate climbed from 33.4% in 2018 to 36.9% in 2023, the real figure could be much higher. “If we use what we call the standard mean, unemployment could actually stand at 60%,” he […]

today14 July, 2025

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Business / Economics

No Bail for Namcor Corruption Suspects as companies join the list

Entities connected to the N$480 million Namcor corruption case face fresh scrutiny as eight people implicated were denied bail in the Windhoek Magistrate’s Court on Thursday. Magistrate Olga Muharukua presided over arguments after the Anti-Corruption Commission made the arrests. The group will attempt another bail bid on Monday, 14 July. Willem Snyman  for NewsOnOne:  

today11 July, 2025

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Business / Economics

August Oil and Gas Conference to Drive Alignment

The third Oil and Gas Conference, happening from 12 to 15 August , will unite industry players, government, and partners to focus on aligning the sector with national development plans during the shift from exploration to production. Jason Kasuto is the Chairperson of the Economic Association:

today11 July, 2025

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Business / Economics

NamPower’s Haulofu Urges Local Plant to Tackle High Power Costs.

NamPower Managing Director Simson Haulofu is calling on government to develop a national power plant to help lower electricity costs and end Namibia’s heavy reliance on imports. NewsOnOne reports that while speaking to parliament’s energy and natural resources committees on Tuesday, Haulofu said that while renewables like the 100MW solar plant are encouraging, Namibia still needs a stable long-term energy solution. 

today9 July, 2025

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Business / Economics

EU and U.S. near preliminary trade deal

  In a push to head off looming tariffs, the European Union and the United States are nearing agreement on a preliminary trade framework, with both sides reportedly accepting a 10% baseline reciprocal tariff. This tentative deal aligns with U.S. President Trump’s threat to reinstate higher tariffs after a July 9 cutoff date. According to Reuters, the U.S. expects a flat 10% tariff on most EU goods unless further specific agreements […]

today8 July, 2025