insert_link Namibia Ministries Collaborate to Establish Special Economic Zones for Industrial Growth In a strategic collaboration between the Finance and Public Enterprises and Industrialisation and Trade ministries, Namibia is gearing up to establish Special Economic Zones aimed at fostering competitive industrial development. Finance Minister Ipumbu Shiimi announced that participants in these zones will enjoy a favorable corporate income tax rate of 20%, along with standard deductions for capital allowances and zero-rated VAT within the designated areas. Theo Klein, an economist from Oxford […] todayMarch 4, 2024 36
insert_link Business / Economics 04 March 2024 Morning Biz News: Financial Highlights: Schwenk Zement, Rand Stability, CBN Forex Crackdown, and Oil Price Surge 1. Schwenk Zement International Terminates Purchase Agreement In a recent development, Schwenk Zement International GmbH has officially terminated its purchase agreement with RWCo GmbH concerning shares in Schwenk Namibia (Pty) Ltd. The stumbling block cited by RWCo is the Namibian Competition Commission conditions linked to the deal's approval. RWCo argues that these conditions lack a legal basis under Namibian competition law. The termination brings an end to what was expected […] todayMarch 4, 2024 11
insert_link World Biden approves funding to prevent govt shutdown US President Joseph Biden has signed a bill that prevents a partial government shutdown taking effect on Saturday. The House and Senate both passed a measure on Thursday which extends the deadlines, with the aim of getting longer-term deals done in the coming weeks. Nick Harper reports from Washington. todayMarch 4, 2024 18
insert_link Namibia Minister Kawana Addresses Investigative Challenges: Over 4,000 Cases Pending Nationwide Minister of Home Affairs, Immigration, Safety, and Security, Albert Kawana, disclosed that 4,377 cases are currently under investigation by the Namibian Police nationwide. Speaking in parliament, Kawana attributed the delays in solving these cases to a lack of resources and manpower. Financial constraints, shortage of personnel, and logistical challenges were highlighted as the primary obstacles. The highest number of unsolved cases is in Khomas, totaling 2,736, followed by Oshana with […] todayMarch 4, 2024 26
insert_link South Africa UDM Leader Bantu Holomisa Declares Upcoming Elections Pivotal for South Africa’s History During the United Democratic Movement of SA's manifesto launch in Midrand, Johannesburg, party leader Bantu Holomisa underscored the significance of this year's elections as a pivotal moment in South Africa's history. Holomisa asserts that these elections could mark the end of the ANC's three-decade-long one-party dominance, accompanied by the eradication of the corruption tolerated during this period. He envisions this upcoming electoral milestone as an opportunity for the people of […] todayMarch 4, 2024 41
insert_link Namibia Persistent Withdrawal of Gender-Based Violence Cases Raises Alarm for Namibian Police Chief Inspector Ileni Shapumba, the Unit Commander for Community Policing in Erongo, Namibia, expresses deep concern over the ongoing trend of complainants withdrawing gender-based violence cases. Despite repeated police advisories that such cases should only be withdrawn in court, Shapumba highlights the disconcerting occurrence. The worry intensifies as two repeat offenders, previously involved in murder and attempted murder cases in Okombahe and Swakopmund, are reportedly released from custody following the […] todayMarch 4, 2024 20
insert_link World More than half of U.S. Democrats want a leader who does not support military aid for Israel Most voters in President Joe Biden's party want a leader who does not back U.S. military aid for Israel, according to a new Ipsos/Reuters poll. The President's full support for Israel, in its war against Hamas in Gaza, has angered many people, as the death toll there grows to 30,000. Caroline Malone reports. todayMarch 1, 2024 29
insert_link South Africa South Africa Gears Up to Host Historic G20 Summit SA's Minister in the Presidency, Khumbudzo Ntshavheni, officially confirmed Cabinet's consideration of preparations for South Africa's hosting of the G20 Summit next year. This marks a historic moment as the first African country to host this prestigious gathering. Ntshavheni expressed confidence in South Africa's ability to deliver a successful summit during a media briefing on the outcomes of the Cabinet meeting. Additionally, she announced that Cabinet has approved hosting the […] todayMarch 1, 2024 26
insert_link World China Pulls Further Away from World Bank’s Definition of High Income Nation China's per capita gross national income fell for the first time in nearly 30 years in 2023, according to newly released government data.It nudges China further away from the World Bank's threshold for categorizing a country as high-income. Patrick Fok reports. todayMarch 1, 2024 15