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The SADC Business Council Tourism Alliance has expressed deep concern over Namibia's proposed restrictive visa regime, which could severely hamper the country's tourism industry and economic growth. This policy shift appears to contradict Namibia Airports Company’s recently launched air access strategy, “Air Connect Namibia”, aimed at increasing international flights and connectivity. The implementation of stricter visa requirements could have a detrimental impact on various sectors of Namibia's economy, including tourism, hospitality, transportation, and retail, all of which rely heavily on international visitors. Evidence from across Africa, including success stories from Rwanda and Zambia, demonstrates that visa liberalisation significantly boosts tourism,…

Deep Yellow Limited has selected Ausenco Services Pty Ltd as the preferred contractor to deliver the detailed engineering and the engineering, procurement and construction management (EPCM) services for the company’s flagship Tumas Project located in the Erongo Region. Ausenco is a market leading engineering and consulting firm and brings extensive knowledge of the Tumas Project, through the work they completed on the February 2023 definitive feasibility study together with the December 2023 re-costing. The scope of work to be completed includes finalising detailed engineering with an EPCM contract opportunity for project execution Deep Yellow said tendered price is commensurate with…

Businesses operating across borders are facing slowing growth and an increasing battle for long-term sustainability, according to a new report from KPMG International. The findings in KPMG’s Top risks forecast: Bottom lines for business in 2024 and beyond shine a light on the multifaceted, complex challenges facing companies looking to grow internationally at a time of increasing divergence on regulation, conflict, technological advancement and political uncertainty. The report’s analysis identified the three most critical risks for businesses right now, known as ‘bottom lines’, likely to impact operations this year and beyond. Global trade restrictions have been on the rise, with…

South African President Cyril Ramaphosa has signed into law the Revenue Laws Amendment Bill of 2023, which establishes a ‘two-pot’ system that gives members of retirement funds access to retirement savings without having to resign or cash out entire pension funds. The amendment law introduces a ‘two-pot’ retirement system to address the concerns related to lack of preservation before retirement and lack of access to retirement funds by households in financial distress. According to a statement by the Presidency, this retirement system comprises a savings and retirement component for contributions made after 1 September 2024, while historical retirement benefits will…