27 February Morning Biz News: Hyphen Expands Training, SA Inflation Rises, Tesla Stock Drops

Hyphen Hydrogen Energy Expands Green Hydrogen Training
Hyphen Hydrogen Energy has signed a Memorandum of Understanding (MoU) with the Hardap Regional Council to address the skills gap and prepare local workers for employment in the green hydrogen industry. According to The Brief, this collaboration is part of Hyphen’s broader efforts with the Namibian government to develop specialized training and capacity-building programs.

South Africa’s Inflation Rises to 3.2% in January
Consumer inflation in South Africa climbed to 3.2% in January, the first figure calculated using an updated basket of goods. Statistics South Africa reports that while meat prices have declined for a third consecutive month, the cost of cereal products has surged by 3.8% year-on-year.

Botswana and De Beers Finalize Landmark Diamond Deal
Botswana has concluded a much-anticipated diamond sales agreement with De Beers, aimed at strengthening job creation and economic stability. President Duma Boko, who assumed office in October last year, prioritized finalizing this deal, which will see Botswana’s share of rough diamonds from the Debswana joint venture rise to 50% over the next decade.

Tesla Shares Plummet Amid Sales Decline in Europe and UK
Tesla’s stock dropped by more than 9% after reports showed a significant decline in sales across the European Union and the United Kingdom, with figures plunging nearly 50% in January. As a result, the company’s market valuation has fallen below the $1 trillion mark for the first time since November 2024.

Latest Financial Indicators

• Namibia Dollar (NAD) Exchange Rates:
  • USD/NAD: 18.42
  • EUR/NAD: 19.32
  • GBP/NAD: 23.35
• Commodities:
  • Gold: $2,915.83 per fine ounce
  • Brent Crude: $73.02 per barrel
  • Bitcoin: $1,561,589.93

Stay tuned for more updates on global and local financial trends.