Erongo Red is one of the regional electricity distribution companies (REDs) that do not owe power utility NamPower, it has been revealed.

This comes after the company had been inadvertently listed among companies that owe the utility, amidst NamPower's plans to introduce prepaid meters for all its distribution customers, including (REDs), as part of measures to improve its debt management.

The power utility aims to convert all its distribution customers to prepaid meters by July 2025.

NamPower is reported to be owed N$1.5 billion.

Sanlam Investments says it has now deployed an initial N$150 million through the Sanlam Namibia Unlisted Debt Fund, launched during the height of the Covid-19 pandemic, into Namibian companies excluded from traditional banking.

The Namibia Stock Exchange (NSX) is now among the top five exchanges on the African continent by market capitalisation, the central bank has said.

The growth of the Gross Domestic Product (GDP) in the Southern African Development Community (SADC) continues to diverge, while output remains below potential, leading to a high unemployment rate in the region, an official has said.

The National Commission on Research, Science and Technology (NCRST) says there is a critical need to bolster research and development (R&D) capabilities, especially in the context of the burgeoning oil and gas sector.

The Office of the Labour Commissioner says over 40 trade unions and 15 employers who have failed to submit their annual returns have until November this year or will face litigation and deregistration.

The southern mining town of Rosh Pinah is facing serious investment challenges, as investors seem to have lost trust in the economic viability of the area post mine closure.

Namibia and Zambia have signed four cooperation agreements on trade and investment, industrial development cooperation, competition, and standards benchmarking as the two countries strengthen bilateral relations.

Uranium One Group subsidiary, Headsprings Investment, which has been actively exploring the Omaheke Region, has projected an annual revenue of N$6.6 billion for the next 25 years. 

Namibia is becoming an increasingly attractive destination for Finnish investors, thanks to its favourable business conditions and strategic partnership with the European Union (EU).