Bank of Namibia Investigates Unlicensed Banking Activities by CBI Exchange Namibia

The Bank of Namibia has undertaken an investigation into the business operations of CBI Exchange Namibia and Coenraad Barend Nolte Botha, who are suspected of engaging in banking activities by accepting deposits from the public without proper licensing. Neither CBI Exchange Namibia nor Coenraad Barend Nolte Botha were authorized by the central bank to carry out banking operations. This information was provided by Kazembire Zemburuka, the Director of Strategic Communications […]

March 14, 2024 27

Namibia

President Nangolo Mbumba Set to Deliver Maiden State of the Nation Address

This afternoon, President Nangolo Mbumba is scheduled to deliver his inaugural State of the Nation Address at Parliament. The State of the Nation Address marks Mbumba's first official address of this kind. Typically, the address is given during the committee stage of debates on the annual Appropriation Bill in the National Assembly. Local political analyst Rakkel Andreas shared this insight.

March 14, 2024 32

Business / Economics

14 March 2024 Morning Biz News: Strategic Expansion: Namib Desert Diamonds Targets Far East Markets

Namib Desert Diamonds (NAMDIA) has set its sights on the Far East, with a strategic push into markets in Vietnam and Hong Kong. This move, spearheaded by Alisa Amupolo, the Chief Executive Officer of NAMDIA, aims to leverage emerging opportunities and position the company for substantial revenue growth in the region. The announcement of this expansion underscores the growing significance of Far East markets in the global diamond trade. With […]

March 14, 2024 10

Namibia

Activist Rosa Namises Discusses High Youth Unemployment and Parents’ Pension reliance

Activist Rosa Namises comments on the situation where, according to the Namibia Statistics Agency's initial findings, over 71.1% of the population under 35 years of age, out of the total population exceeding 3 million, are predominantly unemployed. This alarming rate of youth unemployment contributes to a greater reliance on their parents' Old Age Pension, currently set at N$1600 per month.

March 14, 2024 8

South Africa

National Union of Metalworkers of South Africa Prepares for National Strike Amidst Disputes in Bus Passenger Sector

The National Union of Metalworkers of South Africa has accused employers in the bus passenger sector of instigating a potential national strike by insisting that workers absorb contract penalties and establishing a two-tier labor market. Following unsuccessful negotiations and a minimal wage increase offer, the union has rejected these demands and is gearing up for industrial action. Numsa is advocating for adjustments to allowances, medical insurance, and working hours, alleging […]

March 14, 2024 7

World

Trump expected to attend Florida hearing over classified documents

Donald Trump is expected to attend a hearing in the federal case over his handling of classified documents after leaving office. The former president's lawyers are seeking to have the criminal charges dismissed ahead of a trial. Ira Spitzer reports.

March 14, 2024 16

South Africa

City of Tshwane’s Audit Outcome Reflects Governance Progress

The audit outcome of the City of Tshwane has demonstrated notable improvement, transitioning from an adverse result in 2022 to a qualified outcome in 2023. This shift signifies advancements in governance within the municipality. Mayor Cilliers Brink has acknowledged the significant strides made, crediting the improvement to heightened oversight and the dedicated efforts of Chief Financial Officer Gareth Mnisi. Brink has expressed the municipality's commitment to achieving an unqualified audit […]

March 14, 2024 48

Namibia

Namibia’s Youthful Demographic Challenges: Population Hits Three Million

Alex Shimuafeni, the statistician general of the Namibia Statistics Agency, has disclosed that Namibia's population has reached three million, with a significant portion of 2.1 million being young individuals. This demographic trend is anticipated to perpetuate issues such as youth unemployment, poverty, and inequality, according to experts. The data unveiled an increase in the country's population from 2.1 million in 2011 to three million in 2023. Statistics indicate that 71.1% […]

March 14, 2024 13

South Africa

City of Cape Town Takes Legal Action Against Extortionists Delaying MyCiTi Bus Service Expansion

The City of Cape Town has revealed that internal procedures are in progress to file an interdict application against extortionists responsible for obstructing the construction of the MyCiTi bus service in Mitchells Plain. This 340-million-rand initiative is a crucial component of the broader rollout of the MyCiTi service to Mitchells Plain, Khayelitsha, Claremont, and Wynberg. Rob Quintas, Mayoral Committee Member for Urban Mobility, has indicated that the interdict is anticipated […]

March 13, 2024 27

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