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The Foschini Group (TFG) has announced a major acquisition of R2.35 billion, which, if approved by competition authorities, will see it own well-known furniture retail and bedding chains Coricraft, Volpes, Dial-a-bed and The Bed Store.

The National Petroleum Company of Namibia (NAMCOR) says it has no plans to ask the Ministry of Mines and Energy to increase its current 10% equity held in all exploration activities taking place in the country, including the two recent oil finds.

Debmarine Namibia’s N$7 billion new diamond recovery vessel, the Additional Mining Vessel (AMV#3), is set to be unveiled this month, eight months after it was officially handed over by Damen Shipyards Mangalia in Romania.

Botswana, the world’s second-largest diamond producer, is seeking a more prominent role in the industry as No. 1 player Russia faces international outrage following its invasion of Ukraine. 

Commercial and residential property group Knight Frank has published its Wealth Report for 2022, showing the number of high-net-worth individuals that currently live in South Africa.

The Namibian Ports Authority has announced the acquisition of cargo handling equipment worth N$17 million, as part of efforts to increase operational efficiency at its ports.

The Namibian government says it raised N$567 million from the auctioning of the Governmental Objective Fish Quota in 2021.

NamPower is set to begin construction of a N$1.259 billion 50megawatt (MW) Anixas II Power Station in Walvis Bay after signing an engineering, procurement and construction (EPC) contract with FK Namibia Joint Venture (JV) on Friday.

Letshego Holdings (Namibia) recorded a N$303.3 million profit after tax for the year ended 31 December 2021, down 5.5%.

Even after a salary cut, Denise Coates’ paycheck is hard to beat. 

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