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Pick n Pay Namibia is venturing into the convenience retail space with two Pick n Pay Express stores planned for 2022.

Mines and Energy minister Tom Alweendo says calls for the country to import cheap fuel from Angola are misguided as the neighboring country is also a net importer of the precious liquid.

This comes as pressure continues to mount on the government from consumers after petrol and diesel prices have increased by 51% and 60% respectively in the last 12 months, contributing to rampant smuggling of cheap fuel from Angola.

“We have been receiving calls that we will start to import our fuel from Angola because it is cheap. The fact is that Angola buys 80% of its fuel needs from the same international market where we buy our fuel, and they buy it at the same price. It therefore does not make any sense for Angola to sell us fuel at a cheaper price than what we currently pay. The only reason why fuel is cheaper in Angola is that they make use of the revenue they receive from the export of their crude oil to subsidize the price to the consumer,” he said in Parliament during his ministry’s budget motivation.

Namibia Dairies has withdrawn certain batches of Nammilk Fresh Milk after a quality test conducted by the company indicated that the product’s shelf-life was inadequate.

MTC has announced a collaboration with Inceptus, the commercial arm of the University of Namibia (UNAM), to supply the university’s students with monthly data.

Newly appointed Acting Public Enterprises minister, Ipumbi Shiimi has also come out in support of TransNamib, dismissing the possibility of the railway company being liquidated.

The Development Bank of Namibia (DBN) has provided funding to Dr Vincent Kambinda of MedRundu Health Centre to set up his practice, contributing to an increase in the number of health facilities available in Rundu.

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.

B2Gold has awarded Byrnecut, an international specialist underground mining contractor, a N$1.6 billion development and production contract for its Wolfshag Underground Mine.

Namibia has slipped seven places on a highly regarded global survey measuring investment attractiveness of mining jurisdictions in the world.

Improved economic prospects in Angola due rising oil prices is expected to provide a boon for the Namibian property sector in the short-to-medium term with the probable return of Angolans for leisure and educational purposes, FNB Namibia has forecasted.

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