Business / Economics Archives - Page 126 of 184

Nigeria suspends cybersecurity law

Nigeria has suspended a planned levy on electronic transfers to fund cybersecurity. The Central Bank of Nigeria had in a circular last week directed all banks and mobile money operators to charge 0.5% of the value of electronic transfers as a cybersecurity levy. Ajeck Mangut reports.

15 May, 2024

Africa

Kenya’s Evolving Credit Landscape Highlights Drive for Financial Inclusion

Kenya’s economic landscape showcased remarkable resilience in the latter part of 2023, with gross domestic product (GDP) growth coming in at 5.9% in the third quarter of 2023, compared to 4.3% in the corresponding quarter of 2022. Against this backdrop, TransUnion Kenya’s latest Q4 2023 Kenya Credit Industry Insights Report showed a state of flux in the credit market, shaped by macroeconomic shifts, consumer behaviour changes and technological advancements. […]

15 May, 2024

Business / Economics

15 May 2024 Morning Biz News: Africa’s Green Hydrogen Initiative, Rand’s Fluctuations, and Oil Price Surge: A Snapshot of Recent Financial Trends

As the global economy navigates through various challenges and opportunities, the financial landscape witnesses dynamic shifts influenced by diverse factors ranging from economic policies to natural disasters. Here's a roundup of the latest developments shaping the business world: Africa's Green Hydrogen Pipeline Initiative: President Nangolo Mumba's announcement of a groundbreaking collaboration between Namibia and South Africa marks a significant stride towards sustainable energy development in the region. The partnership, […]

15 May, 2024

Africa

Zambia begins debt restructuring process

Zambia’s international bondholders should quickly complete the restructuring of the notes after the government announced the start of the process, says International Monetary Fund Managing Director Kristalina Georgieva. Bloomberg Africa reports that the government of Africa’s first pandemic-era sovereign defaulter will meet eurobond investors on June 4th to ask them to approve exchanging what’s grown to almost $3.9 billion of debt for new instruments.

14 May, 2024

Business / Economics

Namport sets new cargo record

The Namibian Ports Authority has set a new record, handling 8 million tonnes of cargo in the fiscal year ending 31 March 2024, marking a 4% increase from the previous year. Major exports include, bulk salt saw a growth of 10%, copper concentrate 12%, bagged salt 1%, frozen fish 29%, manganese ore 15.7%, zinc/lead concentrates 2.9% and marble 41%. The Corporate Communications Manager at Namport, Taná Pesat explains. With regards […]

14 May, 2024

Business / Economics

Sustainable investments: aligning wealth with ESG values

By Bank Windhoek’s Chief Treasurer, Claire Hobbs The Harvard Business School defines Sustainable Investment as investment strategies that consider the environmental, social, and corporate governance (ESG) factors alongside financial considerations, in so doing creating a holistic impact; hence, the concept is also being referred to as socially responsible investment back in the day or today as impact investment. This concept evolved from the recognition that […]

14 May, 2024

Business / Economics

14 May 2024 Morning Biz News: Namibian Ports Authority Hits Record 8 Million Tonnes Cargo Milestone, Rand Strengthens Amid Dollar Decline: Key Financial Highlight

Namibian Ports Authority Hits Record 8 Million Tonnes Cargo Milestone The Namibian Ports Authority (NAMPORT) has achieved a significant milestone in its fiscal year ending on March 31, 2024, by managing a staggering 8 million tonnes of cargo. This achievement marks a notable 4% increase from the previous year's record of 7.7 million tonnes, as reported by The Brief. Elias Mwenyo, NAMPORT's Executive for Commercial Services, attributed this remarkable feat […]

14 May, 2024

Business / Economics

Namibia, EU collaborate to strengthen fruit and vegetable value chain

The Ministry of Industrialisation and Trade, in collaboration with the Namibian Agronomic Board and funded by the European Union, has launched a series of workshops. The initiative, part of the EU-Namibia Economic Partnership Agreement support programme, aims to improve agricultural competitiveness by exploring new opportunities in the EU market. Ministry spokesperson Elijah Mukubonda.

13 May, 2024