Business (318)

  • 20
  • Apr
The IJG Business Climate Monitor improved to 50.99 points in February, the Institute of Public Policy Research said this week.
  • 20
  • Apr
The Namibia Trade Forum (NTF) is investigating the idea of setting up a GS1 Barcode Centre for Namibia, which is expected to make it easier for locally manufactured products to land on shelves both at home and abroad.
  • 20
  • Apr
Ten years after Malaysian Textile Company Ramatex collapsed, government is planning to set up garment manufacturing companies at a cost of N$189 million, the 2018/2019 budget document shows.  
Although the documents did not shed more light on the plan, the factories may be set up at the envisioned industrial sites, which the trade ministry plans to set up at a cost of N$1 billion.
Questions sent to the trade ministry two weeks ago on the matter remain unanswered.
In particular, the Windhoek Observer wanted to know whether there were any foreign investors interested in taking up stakes in the envisaged factories and if the garments produced at these factories would be for the local or export markets. 
The garment factory plan comes as Ramatex, which was given EPZ status as well as special water and electricity tariffs, sent thousands of Namibians to the streets after it closed down in 2008.
The company became bankrupt after it lost its United States market following an exposé about its bad labour practices in Namibia.
When Ramatex invested in Namibia, the government, Namwater, NamPower and the City of Windhoek gave the company an incentive package and a 99-year tax exemption on land as well as N$100 million to prepare the land were the factory was situated with the promise that it would create 10,000 jobs.
At its peak in 2004, the company employed 7,000 workers, including over 1,000 Asian migrant workers.
In his budget speech last month, Finance Minister Calle Schlettwein, said that government intends to spend N$10 billion to N$15 billion on industrial hubs over the next five years to be funded through bilateral concessional arrangements.
One of the major investments will be a N$190 million plant to assemble Opel and Peugeot vehicles at Walvis Bay.
The budget development programmes released by the Ministry of Finance under the trade ministry allocation include a special industrialisation programme (N$450 million), a gemstone and jewellery development programme (N$53 million), a de-bushing for bio fuel (N$100 million), Agro Processing development (N$350 million), construction of leather and allied sector centres (N$188 million) and the establishment of a tomato paste production plant at a cost of N$100 million.
 
 
 
  • 20
  • Apr
Government is set to spend at least N$5 billion in upgrading the country’s railway network over the next three financial years, according to the Ministry of Works and Transport budget documents.
  • 13
  • Apr
Construction workers will now receive a minimum wage of N$16.94 per hour following the promulgation of the Collective Agreement that determines the minimum wage
  • 13
  • Apr
The 2018 Horticultural Producer of the Year will be crowned on 26 September.
  • 13
  • Apr
Pupkewitz Motor Division and Namibia Training Authority (NTA) recently signed an Apprenticeship Memorandum of Agreement in Windhoek to enhance access to training opportunities,
  • 13
  • Apr
The Anti-Corruption Corruption Commission (ACC) says it plans to establish a dedicated forensic investigations unit to handle complex financial investigations.
  • 13
  • Apr
A recent survey conducted by accounting firm, PwC on economic crime in Namibia shows that 53 percent of companies have experienced economic crime.
  • 13
  • Apr
The Financial Intelligence Centre (FIC) at the Bank of Namibia has blocked 125 suspicious transactions amounting to N$196 million from 2010 to 31 March last year,
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WINDHOEK OBSERVER

The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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