Regional Price Variations for Maize Meal in Namibia -☕# Issue 31

Today’s Issue:

In today’s edition, we delve into several key stories that highlight Namibia’s economic and educational progress, alongside significant developments in the global tech landscape.

Namibia’s Economic and Educational Milestones:

1. PETROFUND’s N$1 Million TVET Scholarships:
   The Petroleum Training and Education Fund (PETROFUND) has awarded N$1 million in TVET scholarships to 13 students at the Namibian Institute of Mining and Technology (NIMT). This initiative aims to boost Namibia’s petroleum sector by developing critical skills in trades such as boilermaking and electrical work.

2. NamRA’s Revenue Growth and Taxpayer Recognition:
   The Namibia Revenue Agency (NamRA) has recorded a 15% increase in revenue, surpassing its target with a collection of N$88.6 billion. Additionally, NamRA recognized top taxpayers at its 2025 Appreciation Awards, highlighting the contributions of businesses like FNB and NBL to the country’s economic development.

3. Regional Price Variations for Maize Meal:
   Consumers in the /Kharas, Erongo, Hardap, and Omaheke regions paid the highest price for maize meal, underscoring regional disparities in food costs.

Global Tech Insights:

1. TSMC Faces $1 Billion Fine Over Huawei AI Chip Probe:
   Taiwan Semiconductor Manufacturing Company (TSMC) is under investigation for allegedly producing chips used in Huawei’s AI processors, potentially leading to a significant fine. This development highlights the complexities of global semiconductor supply chains amidst geopolitical tensions.

2. Google and Sphere Partner for AI-Driven Entertainment:
   Google has partnered with Sphere Entertainment to bring AI technology to The Wizard of Oz at Sphere, an immersive experience set to debut in Las Vegas. This collaboration showcases AI’s transformative potential in the entertainment industry.

Today’s issue offers a comprehensive look at Namibia’s economic progress and global tech advancements. From empowering local industries through education to exploring AI’s role in entertainment, these stories reflect the dynamic interplay between innovation and economic growth.

BUSINESS & ECONOMY

PETROFUND Awards N$1 Million TVET Scholarships to Boost Namibia’s Petroleum Sector

The Petroleum Training and Education Fund (PETROFUND) has awarded Technical and Vocational Education and Training (TVET) scholarships to 13 students at the Namibian Institute of Mining and Technology (NIMT). Valued at N$1 million over the next three years, this initiative aims to equip Namibians with critical skills essential for the country’s growing petroleum industry.

Empowering Future Talent:

• Focus on Key Trades:
  The scholarships will support training in boilermaking, electrical work, and fitting and turning—skills vital for building and maintaining Namibia’s petroleum infrastructure.

• Comprehensive Support:
  Under the partnership, the Namibia Students Financial Assistance Fund (NSFAF) will cover tuition fees, while PETROFUND will fund accommodation, transport, trade test fees, meal allowances, and pocket money.

Building Local Capacity:

PETROFUND CEO Nillian Mulemi highlighted the importance of developing local expertise as Namibia approaches a Final Investment Decision (FID) from major oil and gas operators.

“The oil and gas industry is growing at an unprecedented pace. It is imperative that we accelerate our efforts to build the technical capacity of as many Namibians as possible,” Mulemi said.

This year alone, PETROFUND is supporting 77 students locally and internationally. With the addition of these 13 TVET trainees, the total number of beneficiaries for 2025 rises to 90.

Regional Focus and Industry Impact:

The TVET scholarship programme was launched in partnership with the !NamiǂNûs Constituency and Chevron, targeting youth from southern regions near the Orange Basin—an area of heightened petroleum exploration activity. Mulemi emphasized that the impact of the oil and gas sector would extend beyond exploration, driving growth across multiple industries.

“In this growing petroleum industry, skills in electrical work, boilermaking, fitting and turning are crucial for the safe and efficient operation, maintenance, and construction of vital infrastructure,” she noted.

The Bottom Line:

As Namibia prepares for a transformative phase in its petroleum sector, initiatives like PETROFUND’s TVET scholarships are laying the groundwork for local capacity building. By investing in technical training today, Namibia is ensuring that its workforce is ready to seize opportunities in tomorrow’s energy economy.

NamRA Records 15% Revenue Growth, Surpasses Target with N$88.6 Billion Collection

The Namibia Revenue Agency (NamRA) has achieved a remarkable 15% increase in net revenue for the 2024/25 financial year, collecting N$88.6 billion—up from N$77 billion in the previous year. This milestone marks NamRA’s success in exceeding its annual target of N$85.3 billion by achieving 103.81% of the projected amount.

Revenue Breakdown:

• Gross Revenue: N$98.9 billion collected, with N$10.4 billion disbursed in refunds, resulting in a net collection of N$88.6 billion.

• Key Contributors:

  • International Trade Taxes: N$30.18 billion (34%)

  • Value-Added Tax (VAT): N$20.56 billion (23%)

  • Pay-As-You-Earn (PIT): N$20.07 billion (23%)

  • Corporate Income Tax (CIT): N$12.63 billion (14%)

  • Other Revenue Streams: N$5.1 billion (6%)

Economic Context:

Namibia’s gross domestic product (GDP) expanded by 34%, growing from N$184 billion in 2021 to N$245 billion in 2024. This broader economic growth has contributed significantly to improved tax revenue streams.

Leadership Insights:

Speaking at NamRA’s Taxpayers Appreciation Day, Finance Minister Ericah Shafudah hailed the achievement as a collective success for taxpayers and traders who remain compliant with regulations.

“This accomplishment reflects the dedication of Namibians to supporting national development through effective resource mobilization,” Shafudah said.

She emphasized that tax contributions enable the government to fund essential services, invest in infrastructure, and address socio-economic challenges exacerbated by global economic conditions and climate change.

Regional and Global Recognition:

NamRA’s tax-to-GDP ratio stands at 25.1%, the highest on the continent compared to Africa’s average of 15%. African Tax Administration Forum (ATAF) Executive Secretary Logan Wort commended Namibia’s strong performance, noting its potential to sustain growth despite being below the OECD average of 34%.

The Bottom Line:

NamRA’s record-breaking revenue collection underscores its pivotal role in strengthening Namibia’s economy through effective taxation and compliance enforcement. As the agency continues to modernize its systems and foster public-private partnerships, it sets a strong foundation for sustainable growth and development across the nation.

NamRA Recognises Top Taxpayers at 2025 Appreciation Awards

The Namibia Revenue Agency (NamRA) celebrated tax compliance excellence at its 2025 Taxpayer/Trader Appreciation Awards, with First National Bank of Namibia (FNB), Namibia Breweries Limited (NBL), and Swakop Uranium among the honourees. The annual event highlights the contributions of individuals and businesses to Namibia’s economic development.

Top Winners:

1. FNB Namibia:
   FNB emerged as the evening’s biggest winner, claiming the prestigious Overall Top Tax Contributor accolade. The bank also swept up four additional awards, including:

   • Highest Contributor to Value Added Tax (VAT)

   • Import VAT

   • Withholding Tax on Interest

   • Non-Resident Shareholders’ Tax

2. Namibia Breweries Limited (NBL):
   NBL secured two major honours:

   • First Runner-up in the Highest Revenue Contributor category

   • Top Contributor in Customs and Excise
     Additionally, NBL received a N$25,000 cheque from NamRA to support a charity of its choice, recognizing its high level of tax compliance.

3. Swakop Uranium:
   Swakop Uranium was awarded Highest Contributor to Employees’ Tax, underscoring its role in supporting Namibia’s workforce.

4. Standard Bank Namibia:
   Standard Bank received the award for Highest Contributor to Corporate Income Tax and was named First Runner-up in the Overall Tax Contributor category.

Additional Recognitions:

NamRA also honoured several businesses for their commitment to compliance:

• DDE Logistics and Trading CC: Compliant Transit Bond Operator

• Robiati Distributors CC: Compliant Authorised Economic Operator

• Laura N Clearing Agent CC: Compliant Clearing Agent

• Namcor Petroleum Trading and Distribution (Pty) Ltd: Compliant Bonded Warehouse Operator

NamRA’s Vision for Compliance:

NamRA Commissioner Sam Shivute emphasized that the awards aim to “honour and encourage excellence in tax and customs compliance” while fostering a culture of accountability among taxpayers.

“These companies are contributing meaningfully to Namibia’s development,” Shivute said, highlighting the importance of tax compliance in funding essential services and infrastructure.

The Bottom Line:

The 2025 Taxpayer/Trader Appreciation Awards underscore the vital role of compliant taxpayers in driving Namibia’s economic growth. By recognizing top contributors like FNB, NBL, and Swakop Uranium, NamRA continues to encourage businesses to uphold their civic duty and support national development initiatives.

Regional Price Variations for Maize Meal in Namibia

Consumers in the /Kharas, Erongo, Hardap, and Omaheke regions, classified as Zone 3 by the Namibia Statistics Agency (NSA), paid the highest price for a 5kg bag of maize meal in March 2025, at N$82.19. This is significantly higher than the prices in other regions, with Zone 1 (northern regions) paying N$78.66 and Zone 2 (Khomas region) paying the lowest at N$69.74.

Regional Inflation Rates:

• Zone 3: Recorded the highest regional inflation rate at 4.4% in March 2025, slightly above the national average of 4.2%.

• Zone 1: Registered an inflation rate of 4.2%, while Zone 2 (Khomas region) recorded a slightly lower rate of 4.1%.

Price Trends Across Commodities:

• Beef Stew: Zone 1 residents paid the most for beef stew at N$108.99 per kg, followed by Zone 3 at N$106.88, and Zone 2 at N$100.39 per kg.

• Other Commodities: Prices for other staples like rooibos tea and sunflower oil also varied significantly across regions.

The Bottom Line:

The regional disparities in maize meal prices highlight the challenges of economic inequality and access to affordable staples in Namibia. As inflation rates stabilize, addressing these disparities will be crucial for ensuring equitable economic growth and consumer welfare across the country.

TECH

TSMC Faces $1 Billion Fine Over Huawei AI Chip Probe

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading contract chipmaker, is under scrutiny by U.S. export control authorities for allegedly producing a chip used in Huawei’s advanced AI processor. The investigation could result in a fine exceeding $1 billion, highlighting the growing tension between U.S. regulations and China's technological ambitions.

Key Details:

• The Chip in Question:
  TSMC manufactured a chip designed by Sophgo, a Chinese company, which was later found in Huawei’s Ascend 910B AI processor—a sophisticated alternative to Nvidia’s industry-leading AI chips.

• Regulatory Concerns:
  Huawei, listed on the U.S. trade blacklist, is prohibited from obtaining products made with American technology. The alleged violation stems from export control laws that permit penalties of up to double the value of transactions that contravene these regulations.

• Actions Taken:
  TSMC suspended shipments to Sophgo last year after the U.S. Department of Commerce directed it to cease supplying advanced chips (seven nanometers or more) to China for AI applications.

Implications:

The potential fine underscores the complexities of global semiconductor supply chains and the geopolitical challenges surrounding advanced technology exports. As tensions rise between the U.S. and China, companies like TSMC are caught in the crossfire, facing significant financial and reputational risks.

Google and Sphere Partner to Revolutionize Entertainment with AI

Google has teamed up with Sphere Entertainment Co. to bring cutting-edge generative AI technology to The Wizard of Oz at Sphere, an immersive entertainment experience set to debut in Las Vegas on August 28, 2025. This collaboration marks a pivotal moment in visual storytelling, leveraging AI to push the boundaries of cinematic innovation.

Key Highlights:

• Generative AI Technology:
  Google Cloud and DeepMind are deploying fine-tuned Gemini models, Veo 2, and Imagen 3 to enhance resolution, extend backgrounds, and digitally recreate characters who would otherwise not appear on screen.

• Massive Data Processing:
  The project has processed 1.2 petabytes of data so far, supported by Google Cloud’s scalable AI infrastructure designed for high computational demands.

• Legacy of Innovation:
  The partnership aims to revolutionize entertainment technology much like Technicolor did nearly 90 years ago with the original Wizard of Oz film.

Impact on Entertainment:

This groundbreaking project demonstrates how AI can transform storytelling by creating immersive experiences that blend creativity with technological precision. As Google continues to innovate in entertainment tech, The Wizard of Oz at Sphere sets a new benchmark for cinematic ingenuity.

PERSONAL DEVELOPMENT

It's Okay to Start Over

Starting over can be daunting, but it's often a necessary step toward growth and success. Whether you're rebooting a project, changing careers, or simply taking a fresh approach to life, remember that every new beginning offers a chance to learn, improve, and thrive.

Tips for Starting Over:

• Set Clear Goals: Define what you want to achieve and create a roadmap to get there.

• Seek Support: Surround yourself with people who encourage and support your journey.

• Stay Positive: Focus on the opportunities ahead rather than dwelling on past setbacks.

The Bottom Line:

Starting over is not a failure; it's a chance to refine your path and emerge stronger. By embracing this mindset, you open yourself up to endless possibilities and a brighter future. So, take a deep breath, gather your courage, and start anew with optimism and determination! Happy Wednesday folks!