Finance

Finance (607)

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November marks the start of seasonal spending, and while this is an exciting time of year, it is equally critical for customers and businesses to be vigilant when shopping to avoid falling victim to fraudsters.

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The Namibia Financial Institutions Supervisory Authority (NAMFISA) CEO Kenneth Matomola has been appointed to represent sub-Saharan Africa on the executive committee of the International Association of Insurance Supervisors (IAIS).

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How many times have we read numerous newspaper articles about children who squandered their inheritance money or how they trusted quick “get rich” schemes and was dubbed out of it?

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Retirement funds and the Financial Institutions and Markets Act, Act No. 2 of 2021 (FIMA) received significant media focus earlier this year. For a brief time, events such as the war in Ukraine and the rising cost of living were overshadowed by retirement fund debates in coffee shops and around the braai.

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The Government Institutions Pension Fund (GIPF) asset base grew by 8.6% to N$147.9 billion for the financial year ended 31 March 2022, up from N$136.2 billion recorded in the comparable period.

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Standard Bank Namibia, which is participating at the 2022 United Nations Climate Change Conference (COP27), says it actively supports Namibia’s transition to a low-carbon economy.

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 The European Investment Bank has given Hydrogène de France (HDF) Energy a N$179 million (€10 million) grant to implement Namibia’s first green hydrogen power plant.

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Osino Resources has entered into an agreement with Nebari Gold Fund 1, LP and Nebari Natural Resources Credit Fund I, LP, with Nebari Gold Fund 1, LP as collateral agent and certain Osino subsidiaries as guarantors, for a credit facility of up to N$276.3 million (US$15 million).

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The Development Bank of Namibia (DBN) has launched a Business Rescue Programme aimed at saving qualifying businesses from liquidation. 

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 IJG has joined forces with Prescient to form Prescient IJG Unit Trust Management Company, a joint venture entity currently providing four-unit trust funds with plans to launch a white labelled solution to the Namibian market.

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