MSC Cruises Welcomes 42 Namibians to Its Onboard Team

Over 40 locals have landed jobs with MSC Cruises following a recruitment initiative launched in collaboration with the Namibia Investment Promotion and Development Board in June. The Brief says NIPDB announced that 42 candidates received letters of intent and are preparing to join the cruise line's fleet between November 2024 and January 2025. Positions include roles in hospitality, business administration, beauty and wellness, housekeeping, sales, and culinary services. This initiative […]

November 1, 2024 7

Business / Economics

1 November 2024 Morning Biz News: Development Bank of Namibia Achieves Milestone with N$21 Billion Investment

The Development Bank of Namibia (DBN) has reached a significant milestone, having invested over N$21 billion in local development over the past 20 years. This investment has not only bolstered the country's infrastructure but has also created over 76,000 jobs, highlighting the bank's vital role in Namibia's economic growth. For the fiscal year 2023/2024, the DBN reported a net operating profit of N$62 million, marking a robust recovery from a […]

November 1, 2024 8

Business / Economics

ActionSA criticizes 2024 mid-term budget promises

ActionSA says the 2024 mid-term budget fails to meet the government of National Unity’s promises. Party representative Alan Beesley welcomed increased SARS funding but criticised the 1.1-percent economic growth projection, saying it falls short of the needed three-percent. Beesley argues that government neglects economic stability, keeping a bloated cabinet while essential services like policing, healthcare, and education suffer. He labels the budget’s priorities as misplaced, calling for urgent focus on […]

October 31, 2024 7

Business / Economics

INTERVIEW: Tora Conservancy Invests in Wildlife Conservation and Community Development in Kunene Region

This interview highlights Reginald Roman, Secretary of Tora Conservancy, discussing the various initiatives and partnerships aimed at supporting wildlife conservation, community upliftment, and skill development within the Kunene region’s conservancies. Tora Conservancy, in collaboration with other conservancies and partners like Wilderness Safaris and Gondwana Collection, focuses on conserving natural resources, protecting endangered species, and fostering socio-economic development. Roman explained that Tora Conservancy has significantly invested in local youth through education […]

October 31, 2024 19

Business / Economics

DA leader and Agriculture minister John Steenhuisen endorsed the mid-term budget

DA leader and Agriculture minister John Steenhuisen endorsed the mid-term budget, calling it the right step toward fiscal growth. Speaking outside Parliament, Steenhuisen commended the focus on debt reduction, infrastructure spending, halting bailouts for state-owned entities, and the end of e-tolls. He emphasises the DA’s role in driving reforms through the government of national unity, through economic growth and job creation:

October 31, 2024 15

Business / Economics

Economist Embraces Tax Amnesty Announcement

During the presentation of the mid-term budget, Finance minister,Iipumbu Shiimi, announced the extension of the tax amnesty programme until October 31, 2026. It was originally set to expire today. Economist Gabriel Erastus provided his insights on the announcement.

October 31, 2024 21

Business / Economics

31 October 2024: Navigating Economic Shifts: Key Financial Updates from Namibia and Beyond

In recent developments, Finance Minister, Ipumbu Shiimi, has announced an extension of the country’s tax amnesty programme, now set to conclude on October 31, 2026. During his mid-term budget review presented in Parliament, Shiimi highlighted the overwhelming requests from various sectors to prolong this programme, which allows taxpayers to settle their full tax debts without incurring penalties or interest. This initiative is designed to enhance tax compliance and boost government […]

October 31, 2024 13

Business / Economics

South Africa nears compliance with the Financial Action Task Force’s financial crime requirements

South Africa is close to meeting the Financial Action Task Force's requirements to combat financial crimes like money laundering and terrorism financing. In his first medium-term budget policy statement for the seventh administration, Finance minister Enoch Godongwana said only six items remain to be addressed by February next year, with 16 of the 22 requirements already fully or mostly completed:

October 31, 2024 12

Africa

Nigeria’s Dangote Oil Refinery Holds 500 Million Litres of Petrol

Nigeria's Dangote oil refinery possesses a reserve of 500 million litres of petrol, according to its billionaire founder, refuting assertions from marketers that they require additional imports to address fuel shortages. CNBCAfrica indicates that, in response to the situation, Nigeria's President, Bola Tinubu, convened a meeting on Tuesday in Abuja with oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote.

October 31, 2024 6

Business / Economics