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9544 Posts
Trustco’s portfolio valuations decline

Trustco’s portfolio valuations decline

CHAMWE KAIRA Trustco has reported in a trading statement for the year 12 months ended August 2023 that a notable factor contributing to the decline in portfolio valuations was the collective surge in discount rates, totalling 11.68 percent (approximately N$650 million, or 66 cents per share) across Trustco's portfolios. Trustco, a diversified investment entity said the prevailing global trajectory of escalating central bank rates appeared to have reached its apex as of the current reporting period. “Forecasts indicate a potential moderation in these rates, hinting at an anticipated reduction in discount rates over the coming years. This expected adjustment may…
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Fishing to slow down in 2024

Fishing to slow down in 2024

The central bank expects growth in agriculture, forestry and fishing is expected to turn negative during 2023 and 2024, due to inconsistent rainfall patterns and reduced fishing quotas. The expected onset of El Niño late 2023 and/or early 2024 poses a downside risk to crop production in Southern Africa during 2023-2024 season, the central bank states. The Bank of Namibia said the diamond mining sector is expected to register a moderate growth rate during 2023, but a slowdown when compared to 2022, as production levels get closer to the carrying capacity. The uranium mining sector is expected to return to…
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Practical financial tips for festive season

Practical financial tips for festive season

MAURIZA FREDERICKS As the Namibian festive season fills the air, many families eagerly anticipate a time of celebration, togetherness, and cherished memories. However, this joyous period can also bring financial strain due to increased spending on gifts, travel, and entertainment. To avoid the post-holiday financial blues, it is crucial to plan your festive season expenses wisely and ensure a joyous celebration without financial burdens. Here are some realistic tips to accomplish just that. Create a Realistic Budget The foundation of a stress-free festive season lies in a well-structured budget. Start by creating a detailed budget that accounts for all your…
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Anglo American unlocks value through operational discipline

Anglo American unlocks value through operational discipline

Anglo American plc, which owns De Beers has provided an update on its performance during 2023 and setting out capital expenditure and production guidance for the next three financial years. De Beers jointly owns diamond operations in Namibia with the government. Duncan Wanblad, Chief Executive of Anglo American, said: “The prospects for mined products have rarely looked better. In the near term, given continuing elevated macro volatility, we are being deliberate in reducing our costs and prioritising our capital to drive more profitable production on a sustainable basis. We are focused on what we can control - safety, operational discipline…
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Walvis Bay mayor calls for a peaceful festive season

Walvis Bay mayor calls for a peaceful festive season

Niël Terblanché As the festive season fills the air with joy and anticipation in Walvis Bay, Mayor Trevino Forbes has taken a moment to reflect on the accomplishments of the past year and extend warm wishes for a peaceful and enjoyable holiday season. “The end of the year is a time for reflection and setting new goals for the future,” he said in his special message. Despite the challenges that 2023 brought, Mayor Trevino Forbes expressed pride in the significant steps and milestones achieved in the coastal town. Some of the notable highlights include the successful relocation of the first…
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SITA explores the shifting trends

SITA explores the shifting trends

With the arrival of Generative AI in 2023, the technology has surged to the top of airport and airline agendas, with 97 percent of airlines planning a program to develop the technology. This has taken the limelight away from Metaverse, which was the focus for 2022. Similarly, Urban Air Mobility has seen surging interest from airlines and airports, with the first flights due to take off in 2024. As a result, investment in the space across all stakeholders (including OEM, infrastructure, and systems) is projected to accelerate from US$5 billion in 2022 to US$28 billion in 2030. These were some…
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Africa has US$250 billion green investment potential

Africa has US$250 billion green investment potential

KPMG has released a new report highlighting Africa’s significant investment opportunity in renewable energy, detailing nearly US$250 billion untapped green investment opportunities in areas such as solar, wind and hydrogen. As it stands, Africa will need US$277 billion annually between 2020 and 2030 to reach its Paris Agreement targets and implement its nationally determined contributions, to contribute to limiting global warming to 1.5°C, according to the Climate Policy Initiative. Despite this, it currently only receives US$29.5 billion in annual climate finance, revealing the significant inflows of both public and private finances required from domestic and international sources. The report ‘Climate…
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NSA records third quarter GDP growth of N$6.8 billion

NSA records third quarter GDP growth of N$6.8 billion

Stefanus Nashama The Namibia Statistics Agency (NSA) has recorded the economic expansion of N$6.8 billion of the Gross Domestic Product (GDP) for the third quarter of 2023. NSA Statistician-General, Alex Shimuafeni, announced this yesterday and said the size of the Namibian economy, as quantified by the GDP at current prices, reached N$59.7 billion during the quarter under scrutiny. This, he said indicates an increase from the N$52.9 billion recorded in the corresponding quarter of 2022, which then consequently has experienced the expansion in the GDP size amounting to an increment of N$6.8 billion. In percentage, the GDP of the third…
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Namra to disburse N$66.8 million in tax refunds

Namra to disburse N$66.8 million in tax refunds

Hertta-Maria Amutenja Namibia Revenue Agency (NamRA) is set to release tax refunds totalling N$66,805,594.15 to 63 150 individual salaried persons and pensioners. NamRa Chief Strategic Communications and Support Engagements, Yarukeekuro Ndorokaze, announced this yesterday and said that the agency is set to make the payments this week; however, the refunds will only be available to the taxpayers a week after. He said NamRA’s strategic approach involves meticulous risk assessment, the establishment of acceptable risk thresholds, and the implementation of an automated refund process. This has resulted in the processing of 91,092 returns, contributing to the clearance of refunds dating back…
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Namibia is thriving in the use of technology

Namibia is thriving in the use of technology

Martin Endjala According to Jan Coetzee, Managing Director of Headway Consulting, Namibia is making significant strides in embracing technology, establishing best practices within organizations, and recognizing the advantages of adhering to international standards in enhancing service delivery and the bottom line. However, the country still faces certain challenges, and both organizations and the nation as a whole must take the need for streamlining processes, compliance, and digitalization more seriously. "Organizations can greatly benefit from Enterprise Resource Planning (ERP) tools and available software to facilitate this transformation," Coetzee said. He believes that by embracing and implementing such tools throughout an entire…
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