Finance

Finance (607)

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The Namibia Revenue Agency (NamRA) is structuring an independent auditing department that will only focus on the oil, gas and renewable sectors to curb tax evasion and maximise revenue collection in these sectors, an official has revealed.

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Namibia's credit market saw a modest uptick in the third quarter of 2023, with total credit extended reaching N$357.1 billion, latest data shows. 

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First National Bank of Namibia, in partnership with the Namibia Special Risk Insurance Association (NASRIA), has extended N$83 million to address credit limitations issues faced by aspiring entrepreneurs. 

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The Road Fund Administration (RFA) says it is striving to tackle a hefty funding gap of N$3.6 billion in 2024/25 through a N$1 fuel levy increase. 

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The Road Fund Administration (RFA) has warned that the condition of the road network and the growing funding gap are expected to drive vehicle maintenance costs for Namibians to a staggering N$42 billion by 2028. 

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An Old Mutual Financial Services Monitor (OMFSM) report estimates that approximately 40% of working Namibians currently hold personal loans.

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The African Development Bank Group (AfDB) has approved a loan of N$3.7 billion (US$196.43 million) for Namibia to implement the second phase of its Transport Infrastructure Improvement Project (TIIP).

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Life is unpredictable, and financial emergencies can strike when you least expect them. Whether it's a sudden medical expense, a car repair, or a job loss, having a financial safety net can make all the difference.

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 The German Development Bank (KfW) and NamPost, through its subsidiary PostFin, signed a N$406-million concessional financing agreement to disburse as micro-loans to micro- and small-sized enterprises and households in rural and remote areas.

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Loans worth N$326.1 million have been disbursed to a total of 310 small and medium enterprises (SMEs) since the launch of the SMEs Recovery Loan Scheme by the Bank of Namibia, Finance and Public Enterprises Minister Iipumbu Shiimi has revealed.

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