Finance

Finance (391)

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The Development Bank of Namibia (DBN) says its currently negotiating a new credit facility with, KFW to fund climate and environmentally friendly projects in the country.

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The Government Institutions Pension Fund (GIPF) says it will be taking its member education campaign to the Omaheke Region, as it seeks to fulfil its mandate to ensure that its members are knowledgeable about their benefits and how the Fund operates.

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Global Credit Rating Company (GCR) has affirmed the unsolicited Namibian long and short-term national scale issuer ratings of First National Bank of Namibia Limited at AA+(NA) and A1+(NA) respectively.

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Momentum Metropolitan says its Namibian life insurance business paid out 393 COVID-19 claims totaling over N$40.6 million in the 2021 financial year.

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Capricorn’s Namibian long and short-term issuer ratings were affirmed at AA-(NA) and A1+(NA), with a Stable outlook by rating agency, Global Credit Ratings Company (GCR).

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PSG Wealth Management Namibia and IJG Securities are in for a N$21 million payday for work done on the Mobile Telecommunications Limited (MTC) Initial Public Offering.

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Credit extended to the private sector slowed to 2% at the end of August 2021 from a growth of 3% at the end of July 2021, a decline attributed to a decrease in demand for credit by businesses.

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Catalyst Investment Managers, is one of six managers who are a part of the Government Institutions Pension Fund (GIPF) incubation programme, which commenced in 2019, aimed at addressing the need for active beneficial participation of Namibian professionals in the asset management industry, expand on their capacity within Namibia and bring in expertise with the necessary skills to mainstream asset management.

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Bank Windhoek has announced the completion of the second phase of its rollout of cash deposit ATMs in Namibia’s northern, coastal and central regions.

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Namibian Stock Exchange listed, Capricorn Group Limited released its annual financial results for the year ended 30 June 2021, with profit after tax increasing by 14.8% to N$983.0 million. The listed Group’s net interest income before impairment charges increased by 3.3% to N$2.26 billion for the period under review.