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Capricorn Private Wealth (CPW) hosted an exclusive stakeholder event for its female clients.

Mobile Telecommunications Limited (MTC) and the World Food Programme (WFP) have entered into a five-year partnership agreement which aims to improve and support programmes targeted towards food systems infrastructure, rural transformation, human capital development and digital solutions.

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Hollard Insurance Company of Namibia is expected to fork out N$3million in fines after entering into a consent agreement with the Namibia Competition Commission (NaCC) regarding a 2017 investigation into uncompetitive exclusive dealing allegations.

The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to further increase the Repo rate by 50 basis points, in the meeting held on 15 June 2022. Economic analysts have also predicted that the Bank of Namibia will announce two more rate hikes before year end.

Government says it will not subsidise the importation of Electric Vehicles (EV) to cushion consumers amid rising fuel costs.

Atterbury Property Holdings, owned by the JSE-listed Atterbury Group is reported to be in talks to sell the iconic Grove Mall of Namibia to Zimbabwean investors, mainly pension funds, keen to invest in the regional market to increase value for their stakeholders.

According to The Herald, Stratus Capital Partners and Bard Santner Markets are brokering the N$1.8 billion deal.

Bard is the lead financial adviser, while the Chikuni Shenjere-Mutiswa-led Stratus Capital Partners brokered the deal.

Bard is led by banker Senziwani Sikhosana, who has over two decades experience in banking, investment, property, and capital and money markets dealings.

Sikhosana works with a Zimbabwean business consortium, which includes Tatenda Hungwe, Alfred Mthimkhulu and international finance expert Vinod Bussawah from Mauritius.

It develops prime mixed-use, commercial, retail and industrial properties and from its South African base, has developed many properties in South Africa, sub-Saharan Africa and Europe worth billions.

Sikhosana was quoted saying: “We are not able to discuss the deal in the media at the moment, but we will let you know when we are ready to talk soon.”

The current Pension and Provident Funds Act in Zimbabwe is being amended through the Pensions and Provident Funds Bill to modernise and strengthen the regulation and supervision of the pensions industry, while giving them flexibility to invest in other markets.

There has been very little legislation on the subject of pensions law with the current law statute having been promulgated in 1976.

Until relatively recently, Zimbabwean pensions funds invested primarily in stocks and bonds, often using a liability-matching strategy.

 Now they increasingly invest in a variety of asset classes, including private equity, real estate, infrastructure, and securities to hedge inflation.

Built by Howard and Chamberlain Architects through investment from Atterbury Property, Attacq Ltd, The Frontier Property Trust and Demushuwa Property Developer (Pty) Ltd, The Grove is located in the Hilltop mixed-use estate in Kleine Kuppe  and is largest shopping centre ever to be developed in Namibia, measuring 52 000 square metres, at a cost of N$1 billion.

Namibia Dairies says it is still reviewing the cost implications of relocating the production of its milk products from South Africa to Namibia.

Alpha Namibia Industries Renewable Power Limited (ANIREP) has recorded a 139.4% increase in revenue to N$166.9 million for the year ended 28 February 2022 from N$69.7 million realised in the previous financial year.

AfriTin Mining Limited has recorded a 13% increase in tin production at its Uis mine in Namibia in the first quarter ended 31 May 2022.

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Namibia is home to over 1 700 millionaires with a wealth of more than US$1 million, 60 individuals with a wealth of more than US$10 million and three with a wealth of more than US$100 million, a new report by Henley & Partners and New World Wealth shows.

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