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).

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.

The Government Institutions Pension Fund (GIPF) allocated N$9.2 billion to local unlisted investment managers for the financial year ended 31 March 2022, of which N$5.3 billion was invested, with the biggest chunk of N$2.7 billion pumped into renewable projects, its recently released Integrated 2022 Annual Report shows.

Standard Bank Namibia has been named the Best Bank and Best Investment Bank in Namibia at the EMEA African Banking Awards for 2022.