Investment

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 […]

23 April, 2024

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 […]

17 April, 2024

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 […]

16 April, 2024

Africa

Zambia’s arts and creative sector is thriving

By Bonface Orucho, bird story agency Zambia’s recent unveiling of a National Arts and Revised Film Policy is evidence of the growing interest in increasing investment and fostering the growth of the arts and creative sector. Besides committing to invest close to US$100 million in the arts and film sector between 2024 and 2028, the policy commits to improving artists' welfare in a bid to promote talent by […]

8 April, 2024

Africa

Somalia plugs 5G into its economic rebound

By Seth Onyango, bird story agency Somalia has received its first 5G installation, cranking up a series of reforms to revamp its economy after joining the East Africa Community (EAC). Hormuud Telecom Somalia Inc., its largest telco, rolled out faster internet speeds last month, signalling budding growth in the country's digital services industry. "As Somalia strides towards stability, the launch of 5G services by Hormuud Telecom emerges as […]

2 April, 2024

Africa

Victims of Jammeh’s Barbaric Rule in Gambia Still Hope for Solace and Money

Gambia, a tiny country of 2.6 million tightly knit people, located right in the middle of Senegal in West Africa, is still struggling to recover from the brutal 22-year authoritarian reign of Yahya Jammeh. He was the longtime former president who fled the country in 2016 to nearby Equatorial Guinea after he lost re-election and regional states forced him from power. A range of United Nations agencies and bodies […]

28 March, 2024

Business / Economics

Financial Planning for Namibia’s Millennials

By Ashante Manetti, Group Marketing Manager, Old Mutual Namibia Financial freedom. It's a term that conjures up images of early retirement, dream vacations, and unshakeable security. But for Namibia's millennial generation, this dream can often feel shrouded in uncertainty. With student loan burdens, a competitive job market, and a rising cost of living, achieving financial stability can seem like an uphill battle. Financial planning for millennials isn't […]

28 March, 2024

Business / Economics

Costly mistakes to avoid as a Namibian farmer

By Hanks Saisai, Technical Advisor: Crops & Poultry, Agribank Many livelihoods in Namibia rely directly or indirectly on agriculture and the products that reward the hardworking men and women who farm as a way of life. It is important to note that the journey of a farmer requires hard work, determination, dedication, and a sense of innovation. One must always be aware of common mistakes that are […]

26 March, 2024

Namibia

Government avails N$ 8 million to revive rice project

During his keynote address at Namibia’s 34th Independence Day celebrations at Katima Mulilo, President Nangolo Mbumba revealed that the government has availed N$ 8 million to revive the Kalimbeza Rice Project. Mbumba also said government approved the establishment of a sugar plantation on part of Kalimbeza, in addition to a sugar processing plant in Katima Mulilo. Highlighting the development and job growth potential of the projects, the Presuident added that […]

22 March, 2024