Finance

Finance (607)

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The Development Bank of Namibia (DBN) through its Covid-19 Business Relief Loan provided N$53 million in funding to The Gondwana Collection to pay employees’ salaries, preserving approximately 950 jobs.

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Netherlands start-up Kelp Blue has secured a N$31.1 million investment from the De Beers Group to commercially develop the world’s first large-scale kelp farm off the coast of Namibia, near Luderitz.

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Letshego Namibia CEO, Ester Kali and Bank Windhoek Managing Director, Baronice Hans have been named among Top 100 Women CEOs in Africa for their accomplishments as female administrative officers in charge of leading organisations on the continent.

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Ten public enterprises are earmarked to receive N$746.8 million in total as a government subsidy for the 2022/23 financial year, the Ministry of Public Enterprises announced on Thursday.

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 The Namibia Deposit Guarantee Authority (NDGA)’s market value more than doubled to N$10,259,574 in 2021 up from N$4,902,924 reported in 2020.

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The Government Institutions Pension Fund (GIPF) will be hosting a series of pre-retirement workshops in Windhoek aimed at preparing its members between the ages of 53 and 59 years, who are planning to go on early or normal retirement.

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The word “retire” was borrowed from the French language. They used it in the military during the 16th century to indicate a time when soldiers needed to “withdraw to a place of safety or seclusion”, after their service in the military.

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Germany, through KfW has availed an initial grant of N$144.5 million (EUR 7 million) towards the establishment of “Urban Development Fund”.

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The Namibia Financial Institutions Supervisory Authority (NAMFISA) has opened a 30 consultative window to allow input into the proposed Financial Institutions and Markets Act (FIMA) following a backlash over the inclusion of a compulsory pension preservation clause.

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The Road Fund Administration (RFA) says it has secured N$350 million from Nedbank Namibia to finance its Low Volume Road Seal Strategy (LVRSS).

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