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LatestNews (147)

Credit extended to the private sector increased marginally to 2.7% y/y in September from 2% y/y in August 2021, the Bank of Namibia (BoN) has revealed.

Public Enterprises minister, Leo Jooste, says government is mulling a review of remuneration packages offered for CEO positions in State Owned Enterprises (SOEs) as part of strategies to attract the best suited candidates for the job.

The Namibian Competition Commission (NaCC) is currently investigating nine mergers, with short-term insurer King Price and Deep Catch among some of the companies targeted.

Agriculture, Water and Land Reform Minister, Calle Schlettwein says he does not support the approval of mining activity in areas where important water resources may be threatened or destroyed.

Meatco and new entrant, BeefCor are expected to battle it out for the lucrative Norwegian quota for 2022 following a call for applications by the Meat Board of Namibia.

The Acunam Technology Group has announced its acquisition of Bidvest Namibia IT business for an undisclosed amount.

The FirstRand Namibia Group has appointed Jan Coetzee to its Board of Directors, as an Independent Non-Executive Director with effect from the 1st of October, 2021.

Namibia Breweries Limited’s (NBL), a subsidiary of the Ohlthaver & List (O&L) Group, has recorded an after-tax profit of N$373 million, up 42.8% from N$261 million recorded prior year, from net revenue of N$2.65 billion for the financial year ended 30 June 2021.

The Bank of Namibia (BoN) says activity in the domestic economy improved during the second quarter of the year, attributed to improved performance in the tertiary industry.

Namibia should expect to be off the United Kingdom ‘red list’ by early October if the Ministry of International Relations (MIRCO) has its way.

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