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Justicia Shipena  Government revenue from the leather industry is expected to decline following a reduction in export levies.  This week, the Ministry of Finance announced revised export levy rates on skins and hides, effective 1 May 2025.  The levy on raw skins and hides was reduced from 60% to 15%, while the levy on pickled skins dropped from 15% to 10%. “Export levies on raw materials can have a detrimental effect on investment, which will lower the long-term supply of raw resources, by lowering domestic prices in the country while implementing the measures and raising uncertainty,” said economist Josef Sheehama.…

Justicia Shipena The Bank of Namibia (BoN) met with the diplomatic community on Tuesday to discuss economic issues, including the operationalisation of Namibia’s Sovereign Wealth Fund. The meeting highlighted the Welwitschia Sovereign Wealth Fund as a tool for long-term fiscal sustainability and intergenerational equity. The fund, established in May 2022, was initially capitalised with N$260 million. By August 2023, it had grown to N$440 million.  As of February of this year, the fund had reached N$453 million, reflecting an increase of N$193 million since its inception. The fund is structured into short- and long-term investments. It allocates 70% of its…

Justicia Shipena Letshego Holdings Namibia has named Cornelius Kamerika as regional manager for the central and southern regions, effective 1 May 2025. The company announced the appointment on Tuesday. According to Letshego’s communications manager, Ongame Mutorwa, Kamerika will lead regional growth and profitability. He will drive business development, improve operations, and execute sales strategies. “Successful banking is built on the great customer experiences we create and the impact we have on those we serve,” said Kamerika.  He said he aims to build strong relationships with his team, customers, and stakeholders. Letshego Chief Commercial Officer Mbo Luvindao described Kamerika as a…

Robert McGregor Namibia is one of the few countries with pension fund assets exceeding GDP (106.6% of nominal GDP in 2024). These long-term savings are highly regulated, both in terms of what they may be invested in and where they may invest. Following changes gazetted in August 2018, Namibian pension funds have been required to invest at least 45.0% of their total assets in Namibia since 31 March 2019. This requirement, however, was only met by the end of March 2021. Despite a large ‘domestic savings pool’, Namibia's investable universe is constrained. The size of these savings has led to…