Namibia’s current railway infrastructure is inadequate for its fuel demand supply chains. This has resulted in minimal volumes being transported by rail in the country. Namibia’s reliance on rail for fuel transportation has dramatically declined from 70% a decade ago to just 14% today. With the scarcity of pipelines, road transport has surged, leading to […]
As Namibia’s oil and gas sector gains momentum, there is a strong focus on developing the necessary skills for its success. Selected government officials and industry stakeholders are participating in health, safety, security, and environment training to meet regulatory requirements and conduct inspections of offshore oil and gas sites. The potential for further oil and […]
Erongo Governor Neville Andre says the world is transitioning to a green economy, with governments and businesses alike increasingly recognising the importance of environmentally friendly practices. This shift, Neville Andre says, presents a unique opportunity for Namibia. The governor was speaking at the Kingdom Ministries Workshop on the Changing Economic Landscape at Walvis Bay. Andre […]
The Head of Economic Affairs at the Indonesia Embassy, Ari Hadiman, has described the recent 2nd Indonesia-Africa Forum as a success. The forum saw the signing of agreements between Indonesia and Africa in various sectors to the tune of about N$52 billion. The 2nd Indonesia-Africa Forum, attended by 16 countries, was aimed at enhancing cooperation […]
The Chief Executive Officer at Namibia Investment Promotion & Development Board (NIPDB), Nangula Uaandja, said Namibia needs to focus more on skills building if the country is to derive a return on investment. Uaandja, who was speaking at the Government Information Center, says improving service delivery, infrastructure-especially rail-and owning affordable electricity will lead to attracting […]
The Ministry of Finance has announced that new tax rates, outlined in Paragraph 1 of Schedule 4 of the 1981 Income Tax Act, took effect on March 1, 2024. As part of this change, the Namibia Revenue Agency (NamRA) has directed employers to adjust Pay-As-You-Earn (PAYE) deductions to correct any overpayments made before the new […]
Namibia’s beef exports to the European Union are under threat as the EU’s new deforestation regulation comes into effect on 1st January 2025. This regulation prohibits the entry of commodities linked to deforestation after December 2020, including beef, unless stringent environmental standards are met. The regulation stipulates that products including cattle, cocoa, coffee, palm oil, […]
President Nangolo Mbumba has encouraged all UN member states to reflect in earnest how they can continue to build on multilateralism. This, as the negotiations for the Pact of the Future are underway, to be adopted at the end of the Summit of the Future, which Namibia and Germany are co-facilitating. President Mbumba and co-facilitor […]
The Namibia Investment Promotion and Development Board (NIPDB) and Namibia Revenue Agency (NamRA) signed a Memorandum of Understanding to promote competitiveness and facilitate the ease of doing business in Namibia. The collaboration seeks to streamline income tax and VAT registration processes, improve the administration and enforcement of revenue laws, and foster joint consultations on policy […]
Funding for small and medium-sized enterprises in Africa remains a significant challenge, largely due to the collateral requirements imposed by financial institutions. These were the sentiments shared by various participants attending Figuring Out Finance for Africa’s SMEs at the AU MSME Forum in the Capital. SMEs are critical to any economy as they make significant […]
