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The Namibia Revenue Agency (NamRA) has collected approximately N$2.8 billion from its customs and excise operations for the 2022/23 financial year from April to December, 2022.
The dawn of 2023 came with numerous amendments to tax legislation which was promulgated on 29 December 2022 and came into effect on 1 January 2023. For instance, the Income Tax Act amendments resulted in the tax-deductible amount for contributions towards both retirement and educational policies being increased from N$40 000 to N$150 000 per annum.
It is incredible how many people make resolutions about getting themselves into shape when a new year begins. Very few of us, think about the ‘financial hangover’ that we are dragging into a new year and how much getting personal finances back in shape could benefit our lives.
The Environmental Investment Fund (EIF) of Namibia has commenced with the Green Climate Fund (GCF) programming consultation following its re-accreditation to the body for another five years last year.
Global forecasts indicate that the demand for minerals will grow exponentially with minerals such as graphite, lithium, copper, and cobalt, which could increase by 500% by 2050, to meet the growing demand for clean energy technologies and to maintain global warming by 2100 to below 2 °C.
The Agricultural Bank of Namibia (Agribank) and the Development Bank of Namibia (DBN) have signed a two-year memorandum of understanding (MoU) to cooperate and co-finance controlled environment agriculture activities in Namibia.
It’s no secret that 2022 was a difficult year for financial markets. The combined effects of the Russia-Ukraine war, China's hard Covid lockdowns coupled with the global supply chain constraints, drove global inflation to astronomical levels in 2022, especially in major economies, with the US reaching a 40-year high of 8.6% in May, peaking at 9.1% in June this year.