Company News

Nkurenkuru — Residents of Kavango West will no longer need to travel to Rundu for MTC services as the company has opened a mobile home in Nkurenkuru.

The Eastern and Southern Africa Trade and Development Bank (TDB) formerly, PTA bank has approved $60 million loan borrowed by three Ethiopian companies.

Windhoek — FNB Namibia is supporting the upcoming TEDx Unam with an amount of N$50,000. The event will take place on Saturday, September 30 at the University of Namibia Health Sciences Campus (School of Medicine/Pharmacy).

Axia Corporation reported a six percent increase in after tax profit to $15,3 million in the year ended June from $14,5 million last year on increased revenue.

A Chinese-based firm has expressed its interest in the buyback of the SAMIR oil refinery. While the proposed amount was deemed insufficient Moroccan oil company, a site visit was scheduled and a proper proposal is pending approval.

Blantyre — Electricity Supply Corporation of Malawi (ESCOM) says it is in the process of doubling its transmission capacity to over 140 megawatts come December, 2018.

BANCABC has set aside $16 million for the 2017 /2018 sugarcane production season in the Lowveld, as the financial services group consolidates its presence in this previously under-serviced but critical sector.

Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change.

Kampala — Telecom service provider, Airtel Uganda, ended the 2016 financial year with 85.6% growth in net profit to Shs 160.45bn on the back of improved uptake of mobile money, value added services and data.