Namibia: Latest News
He Hid In Namibia For 10 Years And Tried Self-Reform. US Judge Jails Israeli Fugitive For Securities FraudBy Dana Sanchez, 6:23 pm
Jacob “Kobi” Alexander returned to the U.S. from Namibia hoping for a plea deal. Prosecutors said he could easily “find his next Namibia” and a federal judge agreed, jailing him as a flight risk until his sentencing in December. While living in Namibia, Alexander paid back millions in fines to the U.S. He settled for $53 million with the SEC in one of the largest settlements ever in an options back-dating case.
Dana Sanchez, 11:38 am
Occupancy at the Victoria Island hotel and casino fell to 42 percent. Sun International isn’t the first South African company to clash with Nigerian authorities. Telecoms group MTN got a record-breaking multi-billion dollar fine. Nigeria is already in recession and it’s going to last a long time, an economist predicts. This month, South Africa reclaimed from Nigeria the title of Africa’s biggest economy due to appreciation of the rand and devaluation of the naira.
Dana Sanchez, 9:51 am
South Africa’s 17 percent sales decline in new auto sales in July is the biggest since 2009 at the height of the global economic recession. “Despite the rand’s recent strength, what we’re experiencing now are the after effects of the currency’s weakness in months prior,” a stakeholder said. Despite the overall decline, certain classes of vehicles have seen sales increase. Toyota and Volkswagen dominate passenger car sales in Namibia. Ford and Isuzu are also strong.
Keren Mikva, 1:52 pm
When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
Staff, 3:26 pm
In Africa, the big-hitting commodities have traditionally been diamonds, iron ore, gold and copper. But with the global energy landscape rapidly changing and disruptive technologies on the rise in 2016, many investors are turning to opportunities in specialist technology metals. The poster child for this trend has been lithium. An essential component in lithium-ion batteries used by the manufacturing and telecommunications sectors, lithium has tripled in price since the beginning of 2015.
Julia Austin, 2:21 pm AFKI Original
A former member of the South African police force noticed a gap in high-level security for the private sector, and he capitalized on it. Chris Beukes’s TSU Protection Services has grown from a single office in Cape Town to a multinational business in at least 14 countries. Clients have a mobile app as extra protection when trained professionals aren’t at their side. A quick shake of a cell phone alerts TSU to danger, and sends out video surveillance.
Namibia has several thousand shipwrecks along its almost-1000-mile coast. Getting there requires a huge effort, and visitors are restricted to around 800 a year to preserve the fragile environment. See why this is a terrible place for sailors, then check out the best wreck dives in Africa, and learn how Namibia has revolutionized tourism.
Dana Sanchez, 2:55 pm
The rough diamond market appears to be making a cautious recovery. Polished diamonds? Not so much. Monthly fluctuations show it’s too soon to tell. Lack of firm evidence for a diamond market recovery is not deterring diamond exploration. A Namibian joint-venture with De Beers recently took possession of its sixth mining and exploration vessel, price tag: $160 million. It’s the most sophisticated diamond sampling and exploration vessel in the world, and will operate off the Namibian coast.
Marinda Louw-Coetzee, 9:14 am
Apart from excellent beers and good food, lodges in Namibia offer some extra refreshment: their often-stunning pools. There’s nothing like a cool, refreshing pool after a hot, dusty day exploring the stunning natural wonders of Namibia, where daytime temperatures in summer often reach 40°C (104F) and the average winter temperature is around 20°C (68F). Namibian pools not only offer a perfect way to relax at the end of a blazing day, but they also offer views and ambiance that can’t be beat. Here are 17 of our favorite Namibian pools.
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