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

Business / Economics

1232 Results / Page 55 of 137

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Business / Economics

US consumer inflation falls ahead of Fed interest rate decision

      By Daniel AVIS     Fresh US consumer inflation data published Wednesday is unlikely to sway the Federal Reserve's plans to leave its key lending rate unchanged, but could alter how many rate cuts policymakers pencil in for this year. The annual consumer price index (CPI) came in at 3.3 percent in May, down 0.1 percentage point from April, the Labor Department said in a statement -- […]

todayJune 12, 2024 21

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Business / Economics

Trustco Converts Debt to Equity, Plans $100 Million US Capital Raise

Trustco Group Holdings Limited is converting 4.4 billion Namibian Dollars of debt into equity, setting the stage for a planned $100 million US capital raise. This involves exchanging debt owed to Next Capital and Dr. Quinton van Rooyen for new Trustco shares at a premium, anticipated to enhance Trustco's net asset value by approximately 1.5 billion Namibian Dollars. Deputy CEO, Quinton Van Rooyen Junior provided insights into the development.  

todayJune 12, 2024 48

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Business / Economics

12 June 2024 Morning Biz News: “Market Dynamics Shift: Vitol Divests, Rand Strengthens, Nigeria Explores LNG, Dollar Steadies”

Fair Competition Ensured as Vitol Emerald Bidco Divests from Service Stations in Namibia In a move to uphold fair competition in Namibia's fuel market, Vitol Emerald Bidco (Pty) Ltd has announced its decision to divest from 58 Engen and Shell service stations. This decision comes in the wake of its acquisition of Engen Ltd and is in compliance with conditions set by the Namibian Competition Commission. The aim behind this […]

todayJune 12, 2024 17

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Business / Economics

PowerCom Enhances Connectivity in Namibia

PowerCom CEO, Beatus Amadhila announced plans to improve connectivity in Namibia by installing 80m guyed lattice towers in several regions. Two towers are already built, with more planned in Ikumwe, Nakabolelwa, Mutikitila, and additional locations. PowerCom aims to construct 29 towers at a cost of N$32.5 million in 2023/24, aiming to achieve 70% of this plan. These efforts will boost network capabilities and digital access across communities.

todayJune 11, 2024 25

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Africa

African countries could unlock billions in local and global trade – what’s working and what’s not

          By Bedassa Tadesse, University of Minnesota Duluth     Africa’s share of global trade remains disproportionately small, hovering around 2%-3%. Countries on the continent trade more with the rest of the world than they do among themselves. Africa needs to improve its share of trade to boost growth and reduce poverty. Aid for Trade is a development initiative that seeks to remove barriers to trade […]

todayJune 11, 2024 13

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Business / Economics

11 June 2024 Morning Biz News: Biz News Update: Q1 2024 Highlights and Key Financial Indicators

  Namibia's Pork Production Surge In the first quarter of 2024, Namibia's local fresh and processed pork production achieved a significant milestone, meeting 49.4% of the nation's consumption demands. This progress towards self-sufficiency was reported by the Brief, highlighting the country's efforts to bolster its domestic agricultural capabilities. The Livestock of Namibia Board noted a substantial 10.3% increase in the number of pigs slaughtered, rising to 12,253 from just over […]

todayJune 11, 2024 23

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Business / Economics

Old Mutual Foundation avails N$800 000 in seed capital funding for grassroots entrepreneurship

      The Old Mutual Foundation, in partnership with Basecamp and the Financial Literacy Initiative (FLI), has announced the 40 shortlisted candidates for the OM SEED Entrepreneurship Programme. This initiative aims to foster entrepreneurship, accelerate economic growth, and address the Sustainable Development Goals (SDGs) in Namibia. This year, the program focuses on entrepreneurs in the Ohangwena, Oshikoto, Zambezi, and Kavango West regions. By 2025, OM SEED will have reached […]

todayJune 10, 2024 47

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