Business / Economics Archives - Page 91 of 184

Namibia to Host Inaugural Global African Hydrogen Summit in September

From 3rd to 5th September, Namibia will host the Global African Hydrogen Summit, the first platform dedicated to unlocking green energy opportunities for African governments. The three-day event will focus on attracting critical investments and financing into bankable green energy projects, promoting Namibia's green hydrogen sector, and positioning Africa as a global green energy hub. Green Hydrogen Commissioner James Mnyupes on expectations:

29 August, 2024

Business / Economics

Letshego Namibia Reports Strong First-Half Financial Performance with 16% Profit Increase

Letshego Holdings Namibia, encompassing Letshego Bank and Letshego Micro Financial Services, has announced impressive financial results for the first half of 2024. The company achieved a 16% increase in profit after tax, reaching N$199 million, and a 14% rise in total revenue, largely due to a 21% growth in interest income. Notable achievements include a successful social listing on the Namibian Stock Exchange and a significant rise in customer deposits. […]

29 August, 2024

Business / Economics

Green Hydrogen Commissioner gives a progress update

Namibia's green hydrogen plans have attracted interest from several countries, including European nations. At a press conference in Windhoek on Wednesday, Green Hydrogen Commissioner James Mnyupe gave an update on the progress of these projects. Mnyupe said that Namibia is currently developing about eight green hydrogen projects that are at various stages. Among these, the Daures project is nearing completion, with expectations to finalise by the end of […]

28 August, 2024

Business / Economics

Government and US African Development Foundation to launch grant programme

The Ministry of Industrialisation and Trade and the United States African Development Foundation signed an MoU at the US-Africa Leader’s Summit. Minister Lucia Iipumbu and USADF President Travis Adkins will launch the MASP in Windhoek this Thursday, according to Ministry spokesperson Elijah Mukubonda.

28 August, 2024

Business / Economics

28 August 2024 Morning Biz News: Namibia’s PPI Declines, Rand Holds Steady, and Oil Prices Dip

Namibia's Producer Price Index Declines The Producer Price Index (PPI) for Mining and Quarrying in Namibia experienced a notable decrease, falling to 142.9 basis points in the second quarter of 2024 from 149.1 in the same period last year, according to the Namibia Statistics Agency (NSA). This 6.2-point drop resulted in a deflation rate of 4.2%, a significant shift from the 12.9% inflation rate recorded in the second quarter of […]

28 August, 2024

Business / Economics

Trustco Group’s Meya Mining Uncovers 391.45-Carat Diamond in Sierra Leone

Trustco Group Holdings announced the discovery of a 391.45-carat diamond by Meya Mining in Sierra Leone's Kono District. Trustco, which holds a 19.5% stake in Meya Mining, highlighted that this is the second major diamond find from the Meya River kimberlite domain. The first significant discovery was a 476-carat diamond in 2017. Like the previous find, the latest diamond, initially weighing 514.99 carats, fragmented into three pieces during recovery. Quinton […]

28 August, 2024

Business / Economics

Telecom to Launch 5G Services by 2026, Begins With Infrastructure Upgrades

Telecom plans to introduce commercial 5G services in targeted areas by 2026, starting with trial deployments in Otjozondjupa and Omaheke regions in 2025. CEO Stanley Shanapinda announced that the company is upgrading its core network infrastructure and expanding 4G and 4.5G networks to ensure seamless connectivity. Additionally, Telecom is replacing copper lines with fiber optic cables in several areas to improve service quality and combat copper theft. The company has […]

28 August, 2024

Business / Economics

Savanna Beef Processors Opens Final N$6.5 Million Share Offering to Producers

Savanna Beef Processors Ltd has initiated its fourth and final private placement, inviting producers to invest in the remaining N$6.5 million of share capital says The Brief. According to Chairperson Meiki Schneider, shares will be available in N$4,000 batches for each preferential slaughter cattle. He urged producers to take advantage of this opportunity, noting that preferential slaughter rights will play a key role in quota allocations. Additionally, over-the-counter trading of […]

27 August, 2024

Business / Economics

INTERVIEW: Activist Herbert Jauch Calls for Rethink on Namibia’s Oil and Gas Strategy

Windhoek, Namibia – Herbert Jauch, a prominent activist, has called for a fundamental reassessment of Namibia’s approach to oil and gas exploration. In a recent discussion, Jauch emphasized that the use of Namibia’s natural resources should benefit all Namibians, not just a select few, and warned against continuing with oil and gas extraction given the current global context. Jauch argued that Namibia's natural resources have long been controlled by foreign […]

27 August, 2024