Chamber of Mines calls for action after decline in mining survey

Chamber of Mines calls for action after decline in mining survey

The Chamber of Mines has called for urgent policy reforms in the country's mining sector following Namibia's drop in the 2023 Fraser Institute Annual Survey of Mining Companies. The country’s position on the overall Investment Attractiveness Index fell by 3 points from 59 in 2022 to 56 in 2023, while on the continent, Namibia ranked 4th out of 22 African jurisdictions surveyed. Lauren Graham, Chief Economist at the Chamber of […]

May 21, 2024 62

Africa

Nigeria’s maritime logistics cruise as ports get a makeover

By Bonface Orucho, bird story agency Nigeria is implementing a ports makeover, ramping up investment to expand its ports as it seeks to untangle congestion, enhance efficiency, and seize economic opportunities through improved sea freight logistics. President Tinubu and Maersk Chairperson Robert Maersk Uggla have reportedly discussed a US$600 million deal with A.P. Moller-Maersk. The two met during the World Economic Forum event in Riyadh. In […]

May 3, 2024 55

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Business / Economics

New salmon farm at Lüderitz to create 600 fobs

Namibia has broken ground on the largest salmon farm at Lüderitz today. Facilitated by the Namibia Investment Promotion and Development Board, Benguela Blue Aqua Farming is set to pioneer salmon farming in Namibia and become one of the largest salmon farming projects in Africa. The project is expected to create 600 direct and about 1500 indirect jobs. Here’s Johannes Aldrian, the Co-Founder and Managing Director of Benguela Blue Aqua Farming, […]

May 2, 2024 196 1

Africa

Global tech giants in Africa AI gold rush

By Conrad Onyango, bird story agency Global technology giants including Microsoft, IBM, Huawei, Nvidia, and Google are lining up to tap into a multi-billion dollar opportunity in the nascent Artificial Intelligence (AI) market. The five multinationals tops the list of more than 100 tech companies across the globe that will feature in the ‘AI Everything’ forum in this year’s GITEX Africa 2024, the continent's premier tech and […]

May 2, 2024 25

Africa

Zimbabwe’s Tourism and Hospitality Industry Permanent Secretary gives update on MoU with Namibia

Zimbabwe and Namibia in 2014 signed a Memorandum of Understanding at the seventh session of the Joint Permanent Commission meant to strengthen bilateral trade and investment. Zimbabwe’s Ministry of Tourism and Hospitality Industry Permanent Secretary Dr. Takaruza Munyanyiwa.

April 25, 2024 57

Business / Economics

Trustco increases stake in Legal Shield Holdings

Trustco Group Holdings Limited has announced the acquisition of an additional 11.35% interest in Legal Shield Holdings Limited from Riskowitz Value Fund LP for N$ 468 million. The strategic transaction fortifies Trustco's investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted assets acquired encompass Trustco Insurance Limited, Trustco Life Limited, and an extensive real estate portfolio spanning […]

April 23, 2024 51

Local

TRUSTCO Group solidifies insurance and property holdings with strategic transaction.

Trustco Group Holdings Limited (Trustco) today announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for NAD 468 million. This will increase Trustco’s holding in Legal Shield to 91.35%. The strategic transaction fortifies Trustco's investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted […]

April 23, 2024 6

Local

NBL receives Overall Top Tax Contributor Award

Namibia Breweries Limited (NBL) was recently awarded with the “Overall Highest Trader Revenue Contribution” for the year 2023. The award from the Namibia Revenue Agency (NamRA), showcases the NBL’s tax compliance and overall positive contribution to the development of the local economy. NBL was awarded in the category of the “Highest Contributor of Customs and Excise,” which relates to the revenue collected mainly on customs and excise duties […]

April 17, 2024 20

Africa

Africa’s millionaire population expected to increase by 65%

There is USD 2.5 trillion in total investable wealth currently held on the African continent, and its millionaire population is set to rise by 65% over the next 10 years. This is according to the 2024 Africa Wealth Report, published by Henley & Partners and wealth intelligence company New World Wealth. In its 9th edition, the latest report reveals that there are currently 135,200 high-net-worth individuals with a liquid investable […]

April 16, 2024 4