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Namibian businesses and individuals have racked up debt of over N$110.5 billion as of December 2022, according to the latest Private Sector Credit (PSCE) figures.

Deep Yellow’s expected capital investment in the Tumas uranium project in Namibia has increased to N$6.4 billion (US$372 million) from N$4.7 billion estimates in 2021, according to its latest definitive feasibility study (DFS).

Namibia’s trade with the rest of the world totalled N$225 billion last year compared to N$161.1 billion recorded in 2021.

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.

Namibia is ready to start piloting the Single African Air Transport Market (SAATM) and has started talks with other African countries to begin flights into the country.

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