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Chamwe Kaira Agra Limited is anticipating financial strain next year due to factors such as escalating fuel prices, rising inflation, and challenges associated with sourcing essential farming input materials. Additionally, the company said the prevailing high-interest rate environment adds complexity to the equation. “Our assessment also encompasses meteorological influences and a continued focus on enhancing credit control practices. We remain vigilant about potential supply chain disruptions caused by load shedding, impacting South African producers, which could lead to fluctuations in availability,” the company said in financial results for the period ended 31 July 2023. The company said although the challenges…

Chamwe Kaira The Bank of Namibia’s stock of international reserves declined in September by 3.4 percent month on month to N$53.8 billion compared to N$55.6 billion at the end of August. “The decline is attributable to commercial bank outflows, as well as government payments. The foreign reserves translated into 5.6 months of import cover, remaining above the international benchmark and adequate to support the currency peg between the Namibia Dollar and the South African Rand,” the central bank said. The annual growth in M2 declined to 7.9 percent at the end of September relative to a growth of 9.6 percent…

Chamwe Kaira The Government has successfully redeemed the JSE-listed Nam03 bond, which matured on the 1st of August with an outstanding balance of N$157 million. This is contained in the Fiscal Policy Statement for the Financial Year 2024/2025 to 2026/2027 released by the Ministry of Finance and Public Enterprises this week. The Government further rolled over the GC23 bond on the 15th of October. To this effect, an outstanding balance of N$2.1 billion at redemption was successfully rolled into other medium to long term bonds along the yield curve. Further, maturing bonds over the Medium Term Expenditure Framework (MTEF) amounts…

Chamwe Kaira Public Enterprises employ 25 000 people, according to statistics released by the Minister of Finance and Public Enterprises, Ipumpu Shiimi this week. The government is in the process of reforming public enterprises to improve their operations. Namibia currently owns 81 Public Enterprises (PEs) consisting of commercial, non-commercial and extra budgetary funds. The Total Asset Value of the all Public enterprises stands at N$119 billion and liabilities at N$60 billion, giving a portfolio Net Asset Value of N$50 billion. Shiimi said it is known the performance of a number of our public enterprises is mediocre; service delivery is ineffective…

Apex Group Ltd, a global financial services provider, has announced its expansion into the Namibian market with the appointment of Sybil Somaes as Country Head – Namibia, responsible for overseeing the delivery of Apex Group’s single-source solution to global clients. Apex Group’s Namibia business supplements the group’s existing presence in South Africa where it currently employs over 1200 people across offices in Cape Town and Johannesburg, servicing 140 clients with assets of USD$130 billion. Apex Group in Namibia will be led by newly appointed Sybil Somaes, with plans to grow client service and delivery teams in this location through the…