28 February 2025, Morning Biz News: Businesses Face Blacklisting, SA Inflation Rises, MTN Gains in Nigeria, UK Business Confidence Rebounds

Local Businesses Face Blacklisting Over Non-Compliance

The Business and Intellectual Property Authority (BIPA) has issued a stark warning to registered entities in Namibia, cautioning that a majority risk blacklisting for failing to comply with the country’s beneficial ownership law. According to The Brief, only 84,000 out of 229,000 registered businesses have submitted the required information, leaving 145,000 entities vulnerable to severe penalties. This crackdown aims to enhance financial transparency and combat illicit financial activities.

South Africa’s Inflation Rises Slightly

FNB South Africa’s senior economist, Koketso Mano, reports that consumer inflation in January edged up to 3.2% from 3% in December. This data marks the first update following revisions to the measured basket of goods. Analysts expect inflation to reach 3.5% in February and surpass 5% by year-end, driven by global economic trends and domestic cost pressures.

MTN Eyes Stability as Nigeria Approves Tariff Hikes

MTN expects Nigeria’s recent approval of a 50% mobile service tariff increase to help stabilize its operations after nearly two years of financial strain caused by the weakened naira. Business Day Nigeria reports that this decision follows a six-year push by mobile network operators, including MTN, advocating for pricing adjustments. The move aims to ensure sustainable telecom operations in Africa’s largest market.

UK Business Confidence Rebounds

British businesses have shown renewed optimism for the first time in seven months, with confidence rising to 49% in February, up from 37% in January, according to Reuters, citing the Lloyds Bank Business Barometer. This improved sentiment signals a more positive economic outlook and increased hiring plans, reaching the highest levels since mid-2023.

Financial Indicators

The Namibia dollar trades at 18.45 to the US dollar, 19.19 to the euro, and 23.26 to the pound. Gold is at $2,875 per fine ounce, Brent crude stands at $72.53 per barrel, and Bitcoin is valued at $1,505,016.54.

That is your biz news. Stay tuned for more updates.