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Breweries profit up 182%

Releasing its financial results in the capital this week, Namibia Breweries Limited announced a 10% decrease in operatin...

EIA clearance for prospective lead producer

North River Resources plc recently announced that the Ministry of Environment and Tourism had approved its application f...

Flower power starts jubilant spring

Flower power starts jubilant spring

Julie, Evelyn and Frieda joined the hundreds of late-season tourists flocking to the Tintenpalast gardens where spring h...

Bidvest to put N$500 million into horse mackerel processing on land

Diversified investment company, Bidvest Namibia, said its fisheries division is on the cusp of making a very substantial...

N$160 million dairy farm for Rundu

A new commercial-scale dairy farm is being constructed at the government’s agricultural experimental farm, Vungu Vungu...

MTC not to blame for high data usage

MTC customers are still complaining about the high data usage they are experiencing and they are blaming it on the high ...

NAMFISA reviews strategy

Financial institutions regulator, NAMFISA said it plans to have a modernised regulatory and supervisory framework in place within the next three years. The new laws will provide the regulator with strong enforcement powers against institutions that are found to contravene these laws.
Chairman of the NAMFISA board, Rick Kukuri said the revised strategy sets out the strategic objectives of the authority over the next five years and forms the basis of NAMFISA’s annual planning.
The new legislative base will also give the regulator the ability to deploy its limited resources towards the most vulnerable areas in the financial system. NAMFISA will further direct its attention to building the required human capacity which will enable it to deliver on its mandate effectively.
CEO Phillip Shiimi said given the importance of regulatory reform, “we placed the review of the financial institutions and markets bill at the top of our priorities. The financial institutions and market bill will provide us with a modern, flexible regulatory framework in the years to come.”
According to NAMFISA’s 2011 annual report, twenty new micro-lenders were licensed last year while two licenses were cancelled. The micro-lending sector now has 347 registered micro lenders, with total loans extended increasing by 19% to N$1.1 billion.
In the period under review, Investment management companies had N$86 billion of Namibia’s savings under management compared to N$84 billion in the previous period of which 53% was invested locally, while unit trust companies managed N$26 billion compared to N$25 billion in the previous period, 49% of which was is invested locally.
Long term insurers raised a total of N$4.5 billion in premiums in 2010 with total accumulated assets reported at N$25 billion compared to N$22 billion in 2009 against policy holders liabilities of N$22 billion compared to N$20 billion in 2009.
On the other hand, short term insurers reported an increase of 21% in assets to N$2.36 billion, receiving gross premiums of N$2.03 billion up from from N$1.76 billion in 2009. A total of N$162 million was paid in premiums for insurance placed outside the country, the report indicates.
Furthermore, the report shows that total pension funds reached N$63.9 billion from N$55.8 billion during 2009 while the medical aid fund, which covered 152 328 beneficiaries compared to 148 040 in 2009, received contributions amounting to N$1.5 billion up from N$1.39 billion received in 2009.

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Film Industry setting sail

Friday, 12 September 2014

The Namibian Film Commission (NFC) this week showcased four of its productions, fully-funded by the Ministry of Informat...

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Aochamub retains SABA presidency

Aochamub retains SABA presidency

Friday, 05 September 2014

The Southern African Broadcasting Association (SABA) has re-elected Albertus Aochamub Namibia Broadcasting Corporation (...

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MVA rolls out campaign to curtail casualties

Friday, 12 September 2014

The practice of transporting employees at the back of open vehicles not fitted with safety mechanisms poses a risk of se...

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SA used car sales surge

Friday, 12 September 2014

Sales figure released last week show that New Car sales in South Africa have been declining but Used Care sales have exp...

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Second Quarter GDP growth at 3%

Friday, 12 September 2014

The Namibia Statistics Agency reveals ints GDP second quarter report that the GDP for the second quarter of 2014 recorde...

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FNB kicks dust in competition’s eyes

FNB kicks dust in competition’s eyes

Friday, 12 September 2014

First National Bank (FNB) Namibia Holdings last Friday released its full results reflecting a EBIT profit of N$1.171 bil...

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Why a competitiveness benchmark when we do not understand the concept Terms of Trade

Friday, 12 September 2014

Our 88th position in the ranking of the latest Global Competitiveness report puts us somewhat below the halfway mark of ...

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Blink again and all the large extractive projects have new owners

Friday, 05 September 2014

A meeting of mining and financing experts in Australia produced a serious difference of opinion between some of the dele...

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Offbeat 12 September 2014

Offbeat 12 September 2014

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Forget Ebola, the awful things in the Middle East and your future as a roofing contractor. In order for humanity to surv...

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Changing media landscape

Changing media landscape

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Women’s issues are men’s issues too

Women’s issues are men’s issues too

Friday, 12 September 2014

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Bible Societies meet

Bible Societies meet

Friday, 12 September 2014

Representatives from the Bible Societies of Namibia, South Africa, Botswana, Lesotho and Swaziland held their annual mee...

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Of BEE and tenders

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Debt, the bottomless pit

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Stars need outside the box sponsors

Stars need outside the box sponsors

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Film  Review - About Last Night

Film Review - About Last Night

Friday, 12 September 2014

Director: Steve Pink
Screenplay: David Mamet
Cast: Kevin Hart, Michael Early, Regina Hall and Joy Bryant
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Volleyball League makes a return

Volleyball League makes a return

Friday, 12 September 2014

After a long break from the season, the Bank Windhoek National Volleyball League continued last weekend in Windhoek.
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Table Tennis League concludes

Table Tennis League concludes

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The Namibian Table Tennis Associations (NTTA) National Team League came to a thrilling conclusion (down to the final mat...

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12 September 2014

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Friday, 12 September 2014

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The Science ‘boffins’

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Friday, 12 September 2014

The National Commission on Research, Science and Technology in partnership with Nampower, hosted the first ever Quiz Nig...

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Merck supports UNAM with diabetes

Merck supports UNAM with diabetes

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German pharmaceutical giant, Merck has started its second year fighting diabetes by adopting E–learning solutions to b...

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Swakop Uranium, MANWU cement agreement

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Pick n Pay Auas almost done

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Labour Force Survey to correct past errors

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Bank Windhoek recognises employees

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