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The Government Institutions Pension Fund (GIPF) has invested nearly N$25 million in Kavango West region as part of its shared value creation strategy, The Brief has learnt.

The Russia-Ukraine crisis has caused global oil prices to rise up significantly in the last few days with ramifications in countries such as Namibia where more fuel price hikes are looming after the N$1.20/litre for petrol and N$1.30/litre for diesel increase in March. Market experts are already predicting that the local pump price may breach the N$20 a litre mark.

Ster Kinekor’s business rescue plan has been approved by the group’s creditors and shareholders.

South Africa’s Standard Bank is trying to convince the Industrial and Commercial Bank of China (ICBC) to buy its 40% stake in their London-based joint venture, CEO Sim Tshabalala said on Friday.

Nedbank Namibia has recorded a N$206.4 million after-tax profit in the full year to December 31, 2021, which is a 75.4% increase from N$117.7 million registered in 2020.

South Africa is in full support of establishing a single African currency backed by the continental central bank and monetary institute.

Mines and Energy minister, Tom Alweendo says Namibia is moving ahead with the development of both its oil and gas sector, and its green hydrogen initiatives, maintaining there was no contradiction in the decision.

Namibians should be prepared to dig deeper this year to buy cars due to disruptions in the global supply chain caused by the Russia-Ukraine conflict, economic advisory firm Simonis Storm (SS) has warned.

The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) announced that they had approved with immediate effect that multiple cessions can now be accommodated by banks and insurers on a single life insurance policy.

Often Agribank is inundated with enquiries from public members on whether one can apply for an Agribank loan and/or is eligible for various loan products of the Bank.

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