Rate this item
(0 votes)

Namibia has begun engaging lenders such as the European Investment Bank and Climate Fund Managers amid plans to issue a Green Bond to raise funds to finance projects that use renewable energy to manufacture hydrogen for export.

Cheetah Cement Factory has been granted permission to resume operations by the Ministry of Labour after the company was ordered to cease operations early this month after violations related to occupational health and safety regulations were detected during an inspection.

AfriTin Mining plans to set up a lithium pilot plant at its Uis mine before the end of the year.

Erongo RED board member Irene Simeon-Kurtz has called for the immediate withdrawal of the appointment of Immanuel !Hanabeb as the incoming Chief Executive Officer of Erongo RED, citing a flawed recruitment process.

Jabu, a Namibian start-up, is set to launch its own payments wallet, Jwallet, to bring many of the country’s unbanked population into the formal banking system, while bringing convenience to its operations.

Trigon Metals Inc has secured a N$39.1 million (US$2.5 million) loan from Sprott Mining Inc to fund its Kombat Mine operations in Namibia and for working capital purposes.

Rate this item
(0 votes)

The Namibia Revenue Agency (NamRA) has extended its modified tax relief programme by another year to help taxpayers boost their operations which were significantly decimated by the coronavirus pandemic.

Cattle continue to be the mainstay of Namibia’s agricultural sector with two of the country’s financial institutions forecasting a 3.8 - 4% growth for the sector in 2022.

Bank of Namibia forecasts a 3.8% growth rate for the agricultural sector, with 4.5% growth forecasted for livestock farming, 3% for crop farming and 3.8% for fishing in 2022.

On the other hand, Agribank, whose mandate is to fund agricultural projects in the country, forecast a 4% growth in the agriculture sector for 2022.

Mines and Energy Minister Tom Alweendo says Namibia has hardly benefited from exploring carbon sources as a means to industrialize and grow its economy, despite the country having served for over 100 years as a carbon sink.

Rate this item
(0 votes)

Economic advisory firm Simonis Storm says the newly launched Welwitschia Sovereign Wealth Fund could be abused if no proper guidelines are put in place.