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

Business / Economics

1309 Results / Page 49 of 146

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Business / Economics

O&L Group to prioritise local market and employee welfare

Following the Olthaver & List Group's announcement to terminate its franchise agreement with Pick n Pay South Africa by the end of June next year, O&L Executive Chairperson Sven Thieme said that the needs of employees will be a top priority during the transition period. Thieme said the company is shifting towards becoming a more customer-centric and Namibian market-oriented business.  

todayJuly 24, 2024 79

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Business / Economics

World Bank approves $138.5 million energy loan for NamPower

Namibia has embarked on its first World Bank-financed energy project, a $138.5 million initiative to strengthen the reliability of its transmission network and integrate more renewable energy into the electricity system. The project will be implemented by NamPower, the national electricity utility, and represents a big step toward a greener and more sustainable future. "Namibia is uniquely positioned as a regional leader in the transition towards a greener future. The […]

todayJuly 24, 2024 30

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Business / Economics

24 July 2024 Morning Biz News: Financial Brief: Key Updates on Pension Schemes, Currency Movements, and Commodities

GIPF’s Pension-Backed Housing Loan Scheme Gathers Momentum The Government Institutions Pension Fund (GIPF) is poised to enhance its financial offerings with an innovative pension-backed housing loan scheme. This initiative will be facilitated through GIPF’s subsidiary, Kuleni Financial Services, and housing loan fund manager, First Capital Treasury Solutions. The Memorandum of Agreement (MoA) for the scheme is currently under review by the Office of the Prime Minister, as reported by The […]

todayJuly 24, 2024 25

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Business / Economics

23 July 2024 Morning Biz News: Galp’s N$2.1 Billion Investment in Namibia Highlights Busy Financial Week; Rand Steady, Oil Prices Drop, and SAP Surpasses Revenue Expectations

Galp Energia's Major Investment in Namibia Galp Energia has invested approximately N$2.1 billion in upstream projects in Namibia during the first half of 2024, according to The Brief. The total investment by the group amounted to €564 million, with €389 million allocated specifically to upstream activities. In the second quarter of 2024, capital expenditure reached €241 million, with Namibia accounting for about one-third of the upstream investments, reflecting Galp's 80% […]

todayJuly 23, 2024 15

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Business / Economics

B2Gold continues workforce downsizing at Otjikoto mine

B2Gold has confirmed it will proceed with further workforce reductions at its Otjikoto mine, involving involuntary separations. This decision follows a comprehensive review by a dedicated retrenchment committee, in collaboration with the Mineworkers Union of Namibia (MUN) branch executive committee on site. Eric Barnard, General Manager of Otjikoto Mine, detailed the process, saying, “We have a retrenchment committee that evaluated the necessary reductions across various departments. This effort was not […]

todayJuly 22, 2024 41

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Business / Economics

22 July 2024 Morning Biz News: Green Hydrogen Boosts Jobs in Namibia; Rand Weakens, Oil Prices Rise in Global Markets

Green Hydrogen Sector Sparks Job Creation in Namibia Green hydrogen pilot projects in Namibia's Central Valley are making significant strides, creating over 200 jobs and awarding nearly N$170 million in contracts to local small and medium-sized enterprises, according to The Brief. Eline van der Linden, Head of Impact and ESG for the Namibia Green Hydrogen Programme, emphasized that these developments are crucial for advancing the green hydrogen sector. Each job […]

todayJuly 22, 2024 26

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Africa

Nigeria Fines Meta $220 Million for Data Privacy Violations

Nigeria has fined Meta Platforms $220 million for violating local consumer, data protection, and privacy laws, the Federal Competition and Consumer Protection Commission announced on Friday as per Reuters. The FCCPC found that Meta misappropriated Nigerian users' data without consent, abused its market dominance by imposing exploitative privacy policies, and treated Nigerian users discriminatorily compared to other jurisdictions with similar regulations.

todayJuly 22, 2024 12

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Business / Economics

US airlines begin resuming operations after global IT outage

        Multiple US airlines said they were beginning to resume operations Friday following a major worldwide computer systems outage that grounded or delayed thousands of flights across the country. The IT issue has wrought global havoc at airports, grounding flights in Europe and the United States, while also derailing television broadcasts in the UK and impacting telecommunications in Australia. At Dulles International Airport outside of Washington, Evyn […]

todayJuly 19, 2024 28

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