Botswana’s economy contracted in Q1

Botswana’s economy contracted in Q1

Botswana’s economy contracted after diamond production dropped. Gross domestic product shrank an annual 5.3% in the first quarter, compared with growth of 1.9% in the prior three months. The downturn, according to Statistics Botswana was primarily influenced by a decrease in real value added of the diamond traders and mining & quarrying industries of 46.8% and 24.8% respectively. Botswana is the world’s largest producer of rough diamonds by value, with the […]

July 1, 2024 13

Namibia

Namibia hosts women’s leadership summit Nalafem

Namibia is hosting the Nalafem Summit today, attracting both local and international delegates. The summit serves as a platform for Africa's women leaders from various sectors, including politics and activism, to share best practices and foster collaboration between the public and civil society. Ministry of Information and Communication Technology spokesperson, Shoki Kandjimi.

July 1, 2024 35

Namibia

Firefighters prevent Ludwigsdorf fire from reaching the city

The City of Windhoek on Sunday battled to contain a fire raging for nearly nine hours in the Ludwigsdorf suburb, east of the capital. The fire spread towards Olaf Palme, and firefighters worked to prevent it from spreading further towards the city. City of Windhoek Chief of Emergency Services Raymond Kapia explained that every year, the department contracts a contractor to create fire breaks. Despite the windy weather conditions and […]

July 1, 2024 113

World

Preparations underway for second peace summit

Ukrainian President Volodymyr Zelensky published a video on Thursday thanking participants of the recent Ukraine Peace Summit, and announced that steps were being taken to present a clear path to peace at the second Global Peace Summit.

June 27, 2024 26

Business / Economics

Businesses must declare owners, says BIPA

Following the introduction of the beneficial ownership requirement, which became law in 2023, all registered businesses are now required to declare their beneficial owners. We spoke to Ockert Jansen, the Business and Intellectual Property Authority's Executive of Marketing, Corporate Communications, and Client Management Services, to find out if local businesses have complied and the possible repercussions.

June 27, 2024 41

Namibia

ECB withholds tariff increase applications for distributors

The Electricity Control Board has withheld the applications for new tariff increases submitted by power distributors NORED and the City of Windhoek. The decision was made due to non-compliance with ECB conditions. ECB Executive for Technical Regulation, Petrus Johannes.

June 27, 2024 30

Business / Economics

NamRA warns of penalties for late tax returns

The Namibia Revenue Agency has reminded the public to submit their income tax returns for the fiscal year 2023/24 before the deadline. NamRa spokesperson, Steven Ndorokaze stressed the importance of timely submission to ensure compliance and avoid penalties.

June 27, 2024 81

World

Euroskeptic parties in talks to for faction

Central and Eastern European leaders are reportedly discussing the formation of a new faction within the European Parliament. According to Hungary's Nepszava newspaper, the proposed group would include Hungarian, Czech, and Slovak parties outside any EP political group, as Pablo Gutierrez reports.

June 27, 2024 24

Africa

Zambia gets funds from IMF as drought takes toll

The International Monetary Fund has agreed to immediately disburse $569.6 million to Zambia, boosting the country’s foreign exchange reserves as it deals with its worst drought in almost 60 years. Bloomberg reports that the money includes an augmentation of $385.7 million. The funds will assist Zambia’s drought relief measures.

June 27, 2024 16