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Simasiku plans to shake up energy

Former Chief Executive Officer of the Electricity Control Board of Namibia, Siseho Simasiku is at the forefront of a con...

Retail Charter in negotiation phase

Minister of Trade and Industry, Calle Schlettwein launched negotiation talks for the Namibian Retail Charter at the Nami...

Solid business ideas originate from Ongwediva conference

Solid business ideas originate from Ongwediva conference

The winner of the Best Business Idea competition run by the Economist Businesswomen Club after their Businesswomen Confe...

Ostriches back in vogue

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Namibia commemorates World Food Day

Namibia commemorates World Food Day

The City of Windhoek commemorated World Food Day yesterday at Otjomuise. This is the first ever commemoration of the Wor...

NamPower sighs relief as new PPA is signed

NamPower sighs relief as new PPA is signed

The power utility company NamPower on Thursday signed a new Power Purchase Agreement (PPA) with Zimbabwe Power Company (...

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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N$40,000 for Bible walk

N$40,000 for Bible walk

Friday, 24 October 2014

Officeconomix and Homeconomix will once again be the main sponsors for this year’s Walk for Bibles in Windhoek. Each o...

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Major sponsors boost tech tour

Friday, 24 October 2014

The AMPION Venture Bus technology tour that is en route to Windhoek has received support from major international compan...

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Car sales up 8.8% yoy

Friday, 24 October 2014

A total of 15,881 have been sold year to date while 1,912 new vehicles were sold during September, up 12.9% month on mon...

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Logistics workshop successful

Logistics workshop successful

Friday, 24 October 2014

The Annual Logistics and Transport workshop took place in the capital late last month and covered a wide range of topics...

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Sanlam raises the bar

Sanlam raises the bar

Friday, 24 October 2014

In an effort to provide the additional convenience to its clients, Sanlam Namibia Holdings officially began using a Poin...

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Benchmark fund crosses N$1.3 bn in assets

Benchmark fund crosses N$1.3 bn in assets

Friday, 24 October 2014

The Benchmark Retirement Fund, a Namibian umbrella fund, which was founded on 1 January 2000, announced its results for ...

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Can one individual have such a profound impact?

Friday, 24 October 2014

Towards the middle of the recent Windhoek Show, long queues started forming around the back end of the President’s Hal...

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US and European consumers do not want to come to the party

Friday, 17 October 2014

Can one imagine how unmanageable the Namibian capital market would be if yields on government bonds came down by 11% on ...

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Including innovation in the planning cycle

Including innovation in the planning cycle

Friday, 24 October 2014

In previous articles, I discussed the role of a corporate innovation manager and also the team who will be involved in m...

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Offbeat 24 October 2014

Offbeat 24 October 2014

Friday, 24 October 2014

Social media, being a group phenomenon, requires threat alerts and, in the absence of significant threats, individual me...

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To win the war against hunger, only have children that you can take care of

To win the war against hunger, only have children that you can take care of

Friday, 24 October 2014

More than 300,000 Namibians had little or nothing to eat in May 2013. By the end of the year, that number increased to 4...

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Councillors work for communities

Councillors work for communities

Friday, 24 October 2014

The Gibeon constituency office through its constituency development fund recently handed over equipment, material and go...

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Where is the competition?

Where is the competition?

Friday, 24 October 2014

In economics, competition is the rivalry among sellers trying to achieve such goals as increasing profits, market share,...

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Of public service officials

Of public service officials

Friday, 17 October 2014

What seemed like a prompt visit to the Ministry of Education to obtain school leaving certificates have left me scared a...

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Egyptian Villa 69 this weekend at the Goethe Centre

Egyptian Villa 69 this weekend at the Goethe Centre

Friday, 24 October 2014

The 2013 Abu Dhabi Film Festival Jury Prize Winner “Villa 69”, by Ayten Amin, Egypt, 2013, will be premiered in Nami...

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Youth to enjoy last African film for the year

Youth to enjoy last African film for the year

Friday, 24 October 2014

AfricAvenir and the Franco Namibian Cultural Centre together with Goethe-Centre/NaDs will be screening the last African ...

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CAF final: A west African affair

CAF final: A west African affair

Friday, 24 October 2014

All roads on Sunday will lead to the Sam Nujoma Stadium, to witness the battle between Nigeria and Cameroon in the CAF W...

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Hardap to host maiden Table Tennis tourney

Hardap to host maiden Table Tennis tourney

Friday, 24 October 2014

FNB Namibia sponsored N$15,000 towards the Namibian Table Tennis Association (NTTA) for hosting this year’s event of t...

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24 October 2014

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17 October 2014

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What Happened?
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Swakopmund hosts marine scientists

Friday, 24 October 2014


By Comfort Ajibola
[email protected]

At the opening of the official third global Large Marine Ecosystem Conference,...

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Elders considered in disaster planning

Elders considered in disaster planning

Friday, 24 October 2014

The City of Windhoek celebrated the International Day for Disaster Reduction on Wednesday at the Katutura Old Age Home. ...

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More clinics for cattle farmers

Friday, 24 October 2014

Livestock farmers in the Northern Communal Areas (NCAs) this past weekend inaugurated two more animal health clinics, fu...

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Organic agricultural training

Organic agricultural training

Friday, 17 October 2014

The Namibian Organic Association (NOA) recently attended the Regional Training Workshop on Marketing and Extension suppo...

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Wanted – three girls to study finances

Friday, 24 October 2014

Three regions were selected last week by the Ericah Shafudah Financial Management Foundation Trust to find the first thr...

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Bandwidth for learning

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Friday, 24 October 2014

Pushing for the use of technology in all its operations, now including teaching and learning, the Polytechnic of Namibia...

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Hilton triumphs at World Travel Awards

Hilton triumphs at World Travel Awards

Friday, 24 October 2014

Hilton Windhoek has been recognised as Namibia’s Leading Hotel at the finals of the renowned World Travel Awards 2014,...

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Safe plastic ideal for travellers

Friday, 24 October 2014

With the festive season at our doorstep, holiday makers and business travellers alike are bound to go around the globe a...

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Movember has arrived

Friday, 17 October 2014

The Cancer Association of Namibia (CAN) launched the 6th Movember campaign to encourage men to grow their moustache for ...

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Armed forces receive field hospital

Armed forces receive field hospital

Friday, 10 October 2014

More than 150 people gathered to fill the seats and bleachers to witness the U.S. Government hand over a surgical field ...

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Shaw River secures off-taker

Friday, 24 October 2014

Shaw River Manganese has locked in Noble Resources Pte Limited for the sale of up to 30,000 tonnes of manganese ore mine...

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Eco Atlantic initiates drilling

Friday, 24 October 2014

Eco Atlantic Oil and Gas recently commenced its planned 3D seismic drilling survey on its Cooper Block located in the Wa...

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Auas Valley Safari Den opens

Auas Valley Safari Den opens

Friday, 24 October 2014

Agra celebrated the opening of their extended and revamped Safari Den store in the Auas Valley Shopping Mall on Wednesda...

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Retail Merchandising Strategy on cards

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One of the main factors undermining the purchase of local produce is poor visibility in-store and on-shelf as said by Te...

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Pushing for self-empowerment

Friday, 24 October 2014

Her Liberty Namibia is a new non-governmental organization that plans to engage, represent and participate in activities...

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Leadership key to business success

Leadership key to business success

Friday, 17 October 2014

FNB Namibia last week hosted a business breakfast at which Brand Pretorius, retired Chief Executive Officer of McCarthy ...

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