FNB Namibia Named Best Bank in Namibia at Global Banker Awards

FNB Namibia Named Best Bank in Namibia at Global Banker Awards

First National Bank of Namibia has been recognized as the Best Bank in Namibia at this year's Banker's Bank of the Year Awards, held in London. The prestigious accolade highlights FNB Namibia’s commitment to providing innovative, socially impactful financial solutions while adhering to global best practices. Conrad Dempsey, CEO of FirstRand Namibia, expressed gratitude for the trust and loyalty of customers, reaffirming the bank's mission to foster a globally competitive […]

December 6, 2024 6

Business / Economics

FNB Namibia Offers Drought Relief Loans to Farmers

FNB Namibia is stepping up to assist farmers affected by the ongoing drought in the country. In line with the Bank of Namibia’s recent policy changes, FNB is offering loan moratoriums, restructuring, and emergency funding under preferential terms to qualifying agricultural clients. These measures aim to provide financial relief to farmers until October 2026. CEO Sepo Haihambo emphasized that the bank is committed to supporting Namibia's agricultural sector, which is […]

December 5, 2024 11

Africa

Nigeria Seeks South Africa’s Support to Join G20 and BRICS

The Nigerian government has officially requested South Africa's endorsement for its bid to join the G20 and BRICS groups of leading economies. According to Duetsche Welle, Nigeria's Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, made the request during bi-annual talks in Cape Town. South Africa, which recently assumed the G20 presidency, has welcomed Nigeria's request. The move highlights the ongoing political and economic rivalry between the two nations.

December 5, 2024 10

Business / Economics

EU Delegation Hosts Trade and Investment Workshop

The EU Delegation to Namibia held a workshop discussing EU-Namibia trade relations, presenting key findings from a study by economist Robin Sherbourne. The study showed the EU was Namibia's top foreign investor in 2023, contributing N$12.7 billion, with a diversified export mix including renewable energy projects. Ana Beatriz Martins is the EU Ambassador to Namibia: According to Salomo Hei, Managing Director of High Economic Intelligence, more funding should be directed […]

December 5, 2024 11

Business / Economics

Moody’s affirms South Africa’s Ba2 rating with a stable outlook

Moody's has affirmed South Africa's long-term debt ratings at "Ba2" with a stable outlook. The agency cited the country's strong institutions, like the judiciary and central bank, as credit strengths. However, persistent inequalities continue to hinder reforms and pose social risks, according to Moody's.

December 4, 2024 8

Business / Economics

The Bank of Namibia reduces the repo rate

Consumers can expect some relief as the Bank of Namibia has lowered the repo rate by 25 basis points, bringing it down to 7%. This marks the central bank’s final rate decision for the year. Here is BoN Governor Johannes !Gawaxab speaking at today’s monetary policy announcement. Cirrus Capital economist, Robert McGregor reacts to the development.

December 4, 2024 10

Business / Economics

Elon Musk’s Tesla pay package – now worth over $100b – blocked again by judge

Elon Musk has lost his bid to get his record-breaking Tesla pay package reinstated. A Delaware judge blocked it in January saying Musk essentially controlled the board that approved it. At the time, the stock-option based package was worth $56billion - but now it would be worth over $100b. Toni Waterman has more.

December 4, 2024 32

Business / Economics

S.A’s Tourism Council CEO Optimistic as G20 Presidency Boosts Tourism Growth

S.A's Tourism Business Council CEO Tshifhiwa Tshivhengwa says South Africa is poised to shine after it accepted the G20 presidency for 2025. Strengthened market positioning is boosting international conventions, including the 2025 G20 Summit, driving growth in business and leisure tourism. He calls for improved safety to attract more visitors and sustain the nation’s tourism momentum:

December 4, 2024 11

Business / Economics

Economist Urges Reforms as South Africa’s GDP Shrinks by 0.3%

In S.A, North-West University Business School economist, Raymond Parsons, has called for urgent economic reforms following the disappointing gross domestic product growth figures for the third quarter, when it decreased by 0.3-percent. Parsons calls for more investment and faster reforms from both the public and private sectors to drive job-rich growth and improve the economy:

December 4, 2024 13