• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

Namibia: Air Namibia Gets a N$500m Government Guarantee

blacksonrise by blacksonrise
December 24, 2019
in Africa Business
0
Tanzania: NBC, Sanlam Partner in New Insurance Scheme
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

THE government has made available a N$578 million guarantee for the cash-strapped national airline to sustain its operations until the first quarter of 2020.

Confirming the guarantee to The Namibian on Tuesday, public enterprises minister Leon Jooste said the guarantee should not be seen as a bailout plan.

The airline wanted a N$1,6 billion bailout from the government in September for its operations, threatening that without the lifeline, it would be forced to shut down.

The public enterprises minister explained that for Air Namibia to restore solvency and implement a new feasible business model the airline will require between N$4,3 and N$5 billion, depending on various factors.

He reiterated that the government agreed to extend a government guarantee, and not funds to the value of N$578 million, which Air Namibia can use to raise financing from various financial institutions.

He said this is simply to allow them to sustain their operations until the first quarter of 2020 pending the outcome of a final Cabinet decision on the long-term future of the airline.

“A full bailout will require a great deal more and Cabinet will have to weigh this against the opportunity cost of funding other social or productive projects and programmes,” Jooste said.

Advertisements

Also speaking to The Namibian, ministry of works spokesperson Julius Ngweda said priority will be given to local banking institutions to provide the Air Namibia loan, and the government would provide the guarantee.

“Yes, the government approved for Air Namibia to look for loans at financial institutions,” he said.

Email: [email protected]

Twitter: Char_Ngatjiheue

Credit: Source link

Previous Post

Uganda: Sacked State Attorney Petitions Labour Court

Next Post

Fenimore church holds annual Christmas Candlelight Cantata

Next Post
Fenimore church holds annual Christmas Candlelight Cantata

Fenimore church holds annual Christmas Candlelight Cantata

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

Loadshedding expected to last until September – SABC News
Africa Business

Eskom defends load reduction strategy – SABC News

January 19, 2021
Invasion Day graffiti slams celebrating ‘genocide’
Aboriginal Australia News

Invasion Day graffiti slams celebrating ‘genocide’

January 18, 2021
Lawsuit filed for ‘TT’ children in ISIS refugee camps
Caribbean Business

Lawsuit filed for ‘TT’ children in ISIS refugee camps

January 16, 2021
UC Berkeley’s African American studies department receives $2.8M grant
African American News

UC Berkeley’s African American studies department receives $2.8M grant

January 19, 2021
Many businesses in Cape Town metro on the brink of collapse ‘due to curfew’ – SABC News
Africa Business

Many businesses in Cape Town metro on the brink of collapse ‘due to curfew’ – SABC News

January 16, 2021
Wall Street drops as big banks fall after results – SABC News
Africa Business

Wall Street drops as big banks fall after results – SABC News

January 15, 2021
Ready for business: Papua New Guinea’s Ihu Special Economic Zone approved
Papua New Guinea Business

In brief: K1 million for Ihu Special Economic Zone and other business stories

January 18, 2021
Assembly Members, Polling Station Executives endorse Alhaji Tanko Yakubu as DCE
African News

Assembly Members, Polling Station Executives endorse Alhaji Tanko Yakubu as DCE

January 21, 2021
DTI Baguio ‘ Benguet recognizes its 2020 top performing clients
Caribbean News

DTI Baguio ‘ Benguet recognizes its 2020 top performing clients

January 17, 2021
Tiger undergoes surgery to have disc fragment removed
Caribbean News

Tiger undergoes surgery to have disc fragment removed

January 20, 2021
What’s on the agenda for Papua New Guinea business in 2021?
Papua New Guinea Business

What’s on the agenda for Papua New Guinea business in 2021?

January 18, 2021
Relatives of man killed in Chancellor shootout want answers
Caribbean Business

Relatives of man killed in Chancellor shootout want answers

January 15, 2021
Multi-talented Ajamu lets ‘Compassion Reign’
Caribbean News

Multi-talented Ajamu lets ‘Compassion Reign’

January 18, 2021
Churches join push for vaccinations – Florida Courier
African American News

Churches join push for vaccinations – Florida Courier

January 16, 2021
Music Producer B-RAD Dies at Age 30 – EMTV Online
Papua New Guinea News

Music Producer B-RAD Dies at Age 30 – EMTV Online

January 21, 2021
Port Augusta City Safe program axed, negatively impacting vulnerable community, services say
Aboriginal Australia News

Port Augusta City Safe program axed, negatively impacting vulnerable community, services say

January 21, 2021
Indigenous influence in brand identity for new Bondi to Manly walk
Aboriginal Australia Business

Tourism Australia Managing Director predicts top global travel trends for 2021

January 20, 2021
Caribbean American Kamala Harris creates history, sworn in as US VP
Caribbean News

Caribbean American Kamala Harris creates history, sworn in as US VP

January 20, 2021
CWU expects a total blackout at SABC on Friday – SABC News
Africa Business

CWU expects a total blackout at SABC on Friday – SABC News

January 20, 2021
Color Of Change Launches New Directory For Black-Owned Businesses
African American Business

The Siemens Foundation And Nothern Trust Committ $10 million to CDFIs

January 20, 2021

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Caribbean Life: Queens Edition: January 22, 2021
  • The Illusion Of Soaring Savings Amid Rising Economic Uncertainty
  • Shaq Accepts New Job In Georgia With the Henry County Sheriff’s Office

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

USD $
  • USD USD $
  • EUR EUR €
  • GBP GBP £