Finance

04 March Morning Biz News: Shiimi Appoints New Procurement Board, Fuel Price War Erupts in Nigeria, and Sinopec Unveils Major Oil Discovery

Finance Minister Reshuffles Central Procurement Board Finance Minister Ipumbu Shiimi has made key appointments to the Central Procurement Board of Namibia, ensuring continuity and fresh leadership. Mary Ndeshihafela Shiimi and Julinda Memosa //Garus-Oas have been reappointed, with Shiimi serving as the board chairperson. Meanwhile, Brian Katjaerua has been appointed as the new deputy chairperson. These appointments aim to enhance efficiency in procurement processes and strengthen governance. South African Manufacturing Sector […]

4 March, 2025 26

Business / Economics

FNB Namibia freezes accounts over KYC non-compliance

The First National Bank (FNB) Namibia has started freezing the accounts of customers who fail to comply with Know Your Customer (KYC) regulations, leaving some clients frustrated over the lack of access to their funds. The move is part of the bank’s obligation to adhere to the Financial Intelligence Act and other regulatory requirements aimed at preventing financial crimes. FNB Namibia’s spokesperson, Kirsty Watermeyer, said that freezing accounts […]

28 February, 2025 105

Business / Economics

Morning Market Roundup: 24 February 2025

Local Market Performance Namibia’s stock market saw significant trading activity, with over 1.5 million shares exchanged across 15 deals, amounting to a total value of N$12 million. The financial sector led market transactions, contributing N$9.4 million, followed by consumer staples and discretionary stocks. Year-to-date, the market has recorded 9.17 million shares traded, reaching a combined value of N$537.9 million. Sasol’s Secunda Plant Faces Uncertain Future A new study in […]

24 February, 2025 19

Business / Economics

30 January-6 February 2025 Weekly Economics Wrap: Tourism, Telecommunications, and Global Economic Trends

The local hospitality industry in Namibia is undergoing a significant shift as several major hotels transition from fixed rates to dynamic pricing. This move, influenced by international trends and increasing operational costs, has raised concerns about the impact on domestic tourism, already facing economic challenges. A recent survey by The Brief revealed that fluctuating rates could affect local tourism, making it difficult for many Namibians to access affordable accommodations. This […]

6 February, 2025 23

World

China Vows to Deepen Graft Fight in Areas Like Finance And Energy

China's top anti-graft agency has vowed to double down on its efforts to battle corruption as it mapped out its focus in areas such as finance, state-owned enterprises, and energy and renewed its pledge to go after bribe payers in the new year. It's a signal that President Xi Jinping's campaign against dirty officials will roll on for the foreseeable future. Laura Westbrook is our reporter:

9 January, 2025 37

Business / Economics

National accounting summit kicks off in Windhoek

The Institute of Chartered Accountants of Namibia's National Accounting Summit 2024 is underway in Windhoek, under the theme, "Shaping the Future of Accounting through Influence and Innovation." Here is Fenni Nghikevali, the CEO of the Institute of Chartered Accountants of Namibia. Nghikevali also explains the challenges they are faced with.

17 October, 2024 40

Oshiwambo

Namibia okwa tameke nuunashipundi wo Southern African Customs Union (SACU) Summit, Council of Ministers and Commission

Namibia okwa tameke nuunashipundi wo Southern African Customs Union (SACU) Summit, Council of Ministers and Commission, okuza nena mo 15 July. Uunashipundi owuulike etameko lyoshikako sha Namibia shomumvo 1,tashiya pehulilo mo 14 July 2025. Amushanga omukuluntu go SACU Secretariat Thabo David Khasipe nena mo Windhoek okwati Namibia okwa kutha oshinagwanithwa ku Lesotho,ngoka kwali omunashipundi go SACU okuza mo 15 July 2023 sigo 14 July 2024. Ta tseyitha kutya omupresitend Nangolo […]

15 July, 2024 31

Business / Economics

Standard Bank’s Thomas Koneka Iindji dies aged 44

Renowned banker and former Namibia Chamber of Commerce and Industry Northern Branch Chairperson, Thomas Koneka Iindji, has died aged 44. This, according to the Namibia Press Agency, was confirmed by a family member, saying that Iindji died on Tuesday in Windhoek. At the time of his death, he held the position of Head of Business and Commercial Banking at Standard Bank, a position he assumed in February this year. He […]

23 April, 2024 133

Local

Rwanda to host Shelter Afrique Development Bank’s 43rd AGM in June 2024

Rwanda will host Shelter Afrique Development Bank (ShafDB) 43rd Annual General Meeting (AGM) in June Kigali, the Company has disclosed. This follows the nomination of Rwanda as the next host country at Shelter Afrique Development Bank’s 42nd AGM held in Abuja, Nigeria, and the subsequent signing of the host country agreement between the Company and the Government of Rwanda in Kigali in March. The host country agreement was signed by […]

23 April, 2024 39