Business / Economics

The Alexforbes Lead Story – 23 January

The Alexforbes Lead Story is back for 2024 and still tackling the topics that matter to you. In this episode David speaks to President of the Anaesthesiologists Society of Namibia, Dr. Jesse Mumba, and specialist anaesthetist, Dr Meandra Jordaan about the fact that NAMAF decided on a zero rate increase for 2024 and how this will impact not only them as specialists who only do in-hospital procedures, but also the […]

January 24, 2024 72

Business / Economics

BUSINESS AND FINANCIALS UPDATE 24 JANUARY 2024

Orano Mining Namibia Contemplates Resuming Operations at Trekkopje Mine Amidst Uranium Price Surge: Orano Mining Namibia is currently exploring potential actions, including the potential resumption of operations at its Trekkopje Mine, driven by the recent upswing in uranium spot prices. The mine, located in the Erongo Region, was placed under care and maintenance in 2013, with the commencement of operations deferred indefinitely, contingent upon the eventual recovery of uranium prices. […]

January 24, 2024 6

Business / Economics

Namibia’s Annual Inflation Moderates to 5.3% in December 2023

In December 2023, Namibia experienced a moderation in its annual inflation rate, standing at 5.3% year-on-year. This represented a slowdown from the 5.7% year-on-year figure observed in November 2023 and a more substantial decline from the 6.9% recorded the previous year. FNB Namibia Economist, Ruusa Nandago, provides insights into what can be anticipated regarding inflation for the year 2024.

January 24, 2024 24

Business / Economics

Uranium one withdraws case against water ministry

The Uranium One Group has withdrawn its case against the water ministry for not issuing exploration drilling permits to the company but remains confident its project will be safe and beneficial to Namibia. Here is Uranium One spokesperson Riaan van Rooyen.

January 23, 2024 21

Business / Economics

Tesla bypasses South Africa due to high import taxes

Elon Musk has announced that Tesla will not sell electric cars in South Africa due to high import duties and taxes, due to a lack of incentives for local electric vehicle manufacturing. Importing a Tesla Cybertruck to South Africa can cost upwards of R1.3 million (incl. VAT). According to ‘My Broadband’, South Africa’s tax regime protects domestic car factories while failing to develop a policy to incentivise local EV manufacturing.

January 23, 2024 26

Africa

Kenyan universities are very short of professors: why it matters and what to do about it

Ishmael Munene, Northern Arizona University A Kenyan vice-chancellor recently went public about the scarcity of university professors. There are fewer than 1,000 professors for the country’s 68 universities and 562,925 students. That is an average of around 563 students per professor. South Africa has around 4,034 professors and 1,112,439 students – around 275 students per professor. Professors occupy the highest teaching rank in the university. They reach this […]

January 23, 2024 18

Africa

Ghana wants to make importing food like rice and tomatoes more costly: expert explains why it’s a bad idea

By Sylvanus Kwaku Afesorgbor, University of Guelph Ghana, like many other developing nations, relies heavily on imports of food and consumer goods to feed its population. For instance, Ghana imports 55% of the rice that is consumed locally. The country’s import dependence is primarily a consequence of the production of low-value primary products without substantial value addition. To forestall over-dependence on foreign goods, the government has proposed a trade […]

January 23, 2024 8

Business / Economics

Manuel Ngaringombe: The Impact of Crime and Infrastructure on Investments

By Leonard Witbeen- 23rd January 2024 In a recent audio statement, Manuel Ngaringombe discussed the crucial relationship between crime rates, corruption, social cohesion, and infrastructure in attracting investments to a country. Ngaringombe emphasized that a conducive social and political environment plays a pivotal role in luring investors, and factors such as a high crime rate and corruption can create obstacles in this regard. Ngaringombe highlighted that investors are more likely […]

January 23, 2024 323

Business / Economics

Latest Financial News Highlights – 23 January 2024

China Aims to Surpass $1 Billion Trade with Namibia China has reaffirmed its commitment to enhance trade ties with Namibia, aiming to exceed the US$1 billion trade achieved in the previous year. The focus is on fostering collaborations in vital sectors such as agriculture, aquaculture, tourism, and mining. Official statistics indicate a substantial 29% increase in bilateral trade volume between China and Namibia from January to September 2023 compared to […]

January 23, 2024 8