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The interest rate hike of 0.75% will be “devastating” for consumers, but there are ways you can get through them with your finances in check.

Cabinet is yet to decide on whether to extend or remove the fuel price relief measures introduced in May, The Brief can reveal.

There is no relief in sight from rising interest rates, amid indications that the Bank of Namibia will announce a major hike come August after SA Reserve Bank Governor, Lesetja Kganyago on Thursday announced a 75-basis points hike, the biggest hike since September 2002. 

Canadian gold exploration company Osino Resources Corp has completed the acquisition of Ondundu gold exploration property in Namibia from B2Gold for a total consideration of N$257.3 million. 

US social-media giants shed nearly $47 billion in market value in extended trading Thursday, as disappointing revenue from Snap Inc. raised concerns about the outlook for online advertising.

The 2021 Mastercard Index of Women Entrepreneurs (MIWE) has, for the third consecutive year, ranked Botswana (38.5%), Uganda (38.4%) and Ghana (37.2%) as the countries with the most women business owners globally.

The Index’s benchmark indicator is calculated as a percentage of total business owners. This is the fifth edition of the MIWE, which puts the spotlight on the significant socio-economic contribution of women entrepreneurs around the world, including Africa, and provides insights on the factors driving and inhibiting their advancement.

In many African countries, women’s advancement is hampered by less supportive entrepreneurial conditions, a lack of funding, less opportunities for higher-level education, as well as structural barriers.

Botswana, however, scores in the top 15 economies globally in terms of advancement outcomes for women, particularly as far as performance by income is concerned, out-performing high-income and developed economies such as Canada, the United States, New Zealand, Switzerland and Australia. Botswana also scores highly in MIWE 2021’s ‘women’s labour force participation rates’, ranking 13th globally.

According to the report, Nigeria, alongside Angola and Ghana, ranked first globally in the Women’s Entrepreneurship Activity Rate in MasterCard Index of Women Entrepreneurs (MIWE) 2021.

Nigeria also ranked second globally for the number of ‘women professional and technical workers’ at 59.1 per cent, while Angola ranked second globally in hiring intentions with 16.4 per cent of adults planning to employ six or more people in the next.

Despite the challenges presented by the pandemic and economic downturn, Mastercard’s research indicates that women entrepreneurs in Africa are resilient and adaptable, particularly those in low and middle-income economies, often surpassing men in terms of entrepreneurial activity.

Ebehijie Momoh, Country Manager and Area Business Head for West Africa at MasterCard, congratulated the African countries for their entrepreneurial and SME activities efforts.

He added that “women in Botswana, Uganda, Ghana, Nigeria and Angola stand out as excellent examples of women’s determination to provide for themselves and their families, despite facing financial, regulatory and technical challenges. In these economies, women are able to leverage on opportunities in their respective environments to be business owners, leaders and professional or technical workers.”

As part of Mastercard’s commitment to creating a world where women entrepreneurs are equally represented and supported, the company made a global commitment to connect 25 million women entrepreneurs to the digital economy by 2025. Not only will empowering women’s entrepreneurship act as a catalyst for growth and innovation, but it will raise up the communities around successful women and fuel a global recovery that is more equitable and sustainable for everyone.-businessinsider

The City of Windhoek approved a total of 227 building plans valued at N$398.2 million in June, representing a 55.5% m/m increase from the 146 building plans worth N$118.1 million approved in May.

Namibia’s diamond production increased by 67% to 565 000 carats in the second quarter up from 338 000 carats recorded in the same period last year, figures released on Thursday show.

French carmaker Peugeot is debating the future of its Namibian assembly plant, which was opened in 2018 to build cars for the South Africa market but has since suspended operations.

Namibia’s tourism sector is expected to provide support to overall economic growth in 2022 following a recent rise in national occupancy rates and foreign arrivals, which are creeping closer to pre-pandemic levels, Simonis Storm has said.

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