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

Business / Economics

1232 Results / Page 34 of 137

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Business / Economics

Bank of Namibia Forecasts Economic Growth of 3.1% for this year

The Bank of Namibia’s August 2024 Economic Outlook predicts a 3.1% growth for Namibia’s economy ifor this year, with a slight increase to 3.9% in 2025. Global growth is expected to be 3.2%, rising marginally to 3.3% in next year. While the 2024 forecast remains unchanged, the 2025 projection has been adjusted upward by 0.1 percentage points due to revised growth estimates for China. Josefina Oskar, the Bank’s Communications Practitioner, […]

todayAugust 9, 2024 44

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Business / Economics

9 August 2024 Morning Biz News: Namibia Urged on Borrowing Strategies, South Africa Implements VAT on Imports, Dollar Gains on Jobless Data, Yuan Strengthens Amid Market Volatility

In recent financial developments, the African Development Bank (AfDB) has advised Namibia to implement conservative borrowing strategies and harness the potential of the Namibian Stock Exchange (NSX) and the Government Institutions Pension Fund (GIPF) to bolster developmental capital. This recommendation aims to tackle the country's increasing public debt and enhance financial stability, according to The Brief. In South Africa, a new policy is set to impact the clothing industry significantly. […]

todayAugust 9, 2024 18

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Business / Economics

Surge in Exploration License Applications Raises Concerns

Minister of Mines and Energy, Tom Alweendo reported a significant increase in exploration license applications, with over 600 by December 2023 and an additional 400 since January 2024. Speaking at the 2024 Mining Expo and Conference, he acknowledged delays in processing due to the high volume and highlighted issues with some applicants lacking the necessary capabilities. To address this, the ministry will now award licenses only to those meeting stringent […]

todayAugust 8, 2024 13

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Business / Economics

Alweendo Calls for Collaboration and Innovation at 11th Mining Expo & Conference

At the 11th Mining Expo & Conference in Windhoek, Minister of Mines and Energy Tom Alweendo urged for collaborative efforts to address challenges and leverage opportunities in Namibia's mining sector. He highlighted the government's commitment to a sustainable industry and noted that, out of 162 mining licenses, only 68 are currently active. Alweendo emphasized the growing global interest in critical minerals and called for international partnerships to strengthen Namibia's role […]

todayAugust 8, 2024 18

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Business / Economics

1-8 August Weekly Economic Wrap: Mining Growth in Namibia, South African Refinery Deal, and Global Currency Fluctuations

Namibian Highlights: Mining Sector Growth: Research by Simonis Storm reveals an 18.2% increase in the real value added by Namibia's mining and quarrying sector for Q1 2024. This growth has elevated its contribution to Namibia's GDP from 0.6% in 2015 to 1.4% today, attributed to continued investments in oil and gas activities. Nedbank's Avo SuperShop Expansion: Since its launch in late 2023, Nedbank's Avo SuperShop has attracted over 1,800 users […]

todayAugust 8, 2024 38

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Business / Economics

8 August 2024 Morning Biz News: Namibia Sees Surge in Exploration Licenses, JSE Shows Signs of Revival, MTN Faces Financial Hurdles, and Oil Prices Rebound

Surge in Exploration Activity in Namibia The Ministry of Mines and Energy has reported a remarkable increase in exploration activity, with over 600 new license applications submitted by December 2023. This upward trend has continued into 2024, with an additional 400 applications, bringing the total number of applications to over 1,000. Minister Tom Alweendo has highlighted this influx as a positive indicator of growing confidence in Namibia's mineral potential. The […]

todayAugust 8, 2024 21

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Business / Economics

Govan Mbeki Lecture Highlights Need for African Infrastructure Upgrades

In S.A, The annual Govan Mbeki Lecture at the Nelson Mandela University in Gqeberha emphasised the importance of African infrastructure upgrades for industrialisation. Speaking at the lecture, Volkswagen Group South Africa's managing director , Martina Biene said the African Free Trade Agreement is seen as a strategic move to boost intra-African trade and position Africa as an industrial hub:  

todayAugust 8, 2024 18

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Business / Economics

Finance Minister tables Income Tax Amendment Bill

The Minister of Finance and Public Enterprises, Iipumbu Shiimi has introduced the Income Tax Amendment Act of 2024 in the National Assembly. The Act provides tax relief to individuals and non-mining companies by amending Schedule 4 of the Income Tax Act of 1981, which addresses tax rates. Shiimi had announced in the February 2024 national budget that all taxpayers would receive relief by adjusting the tax tables by N$50,000, exempting […]

todayAugust 7, 2024 327 4 2

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