Business / Economics Archives - Page 19 of 184

Private Sector Credit Growth Accelerates to Pre-Pandemic Levels .

Private sector credit grew by 5.7% year-on-year in June, up from 4.1% in May—the fastest pace since early 2020. Corporate credit surged 10.6%, fueled by strong activity in mining, energy, retail, and manufacturing sectors. Overdrafts jumped 17.4%, driven largely by real estate development and rising consumer demand, explained Simonis Storm economist Almandro Jansen.

5 August, 2025

Business / Economics

BP strikes major oil & gas discovery in Brazil’s Santos Basin

The vessel ‘Valaris DS-15’ that drilled the Bumerangue well. BP said it was too early to assess the quality of the reserves. Photo: by Valaris via Financial Times BP has announced a landmark oil and gas discovery at its Bumerangue prospect in Brazil’s Santos Basin on 4 August, marking its largest find in 25 years. The deepwater well penetrated a 500-meter hydrocarbon column in a high-quality pre-salt reservoir spanning […]

4 August, 2025

Business / Economics

Maersk to end direct SA–U.S. shipping route in October

Photo credit: Maersk Maersk will suspend its direct shipping service between South Africa and the United States starting in October, leaving South Africa with only one remaining direct route to the U.S. This move, according to News24, may disrupt exporters who depend on reliable, fast deliveries to American markets. The affected service, known as the American Express (Amex), was formerly operated through the 2M vessel-sharing alliance with MSC. As that […]

4 August, 2025

Business / Economics

Bank Of Namibia Defends N$1 Coin Design Amid ‘Outere Dollar’ Talk

The Bank of Namibia has addressed public concerns over the new N$1 coin, explaining that its design—showing two hands exchanging coins—was created to honour the country’s retail sector and highlight values like dignified trade, resilience, and economic inclusion. The Bank’s spokesperson, Kazembire Zemburuka, clarified that the nickname “Outere Dollar” (Khoekhoegowab for “give me”) was never part of the official intent.

4 August, 2025

Business / Economics

August Fuel Prices Remain Unchanged, Ministry Confirms

Fuel prices will stay unchanged throughout August, according to Anna Salkeus of the Ministry of Mines, Industry and Energy. While petrol saw a minor over-recovery and diesel a notable under-recovery, the National Energy Fund will offset the losses. This stability is attributed to a stronger Namibian dollar and reduced shipping costs.

4 August, 2025

Africa

SACU revenue at risk as South Africa scrambles to renegotiate with U.S.

Namibia is likely to feel the economic aftershocks of the 30% tariff imposed by the United States on South African goods, according to economist Dr. Omu Matundu, who says the move could contract South Africa’s export market and dent Namibia’s revenue from the regional customs pool. South Africa, Namibia’s largest trading partner and the continent’s most industrialised economy, has seen key sectors such as automotive and agriculture directly targeted by […]

1 August, 2025

Business / Economics

Radio outages as Gross Herzog transmission tower fails

Several radio stations have gone off air following a power failure at the Gross Herzog transmission tower, a key telecommunications hub located south of Windhoek. The tower, which stands 41.2 metres tall on the Gross Herzog Mountain, has been out of full operation since Monday. The outage is linked to a generator at the site running out of diesel fuel, leaving the structure without backup power. The tower, which has […]

31 July, 2025

Business / Economics

SMEs, skills, and youth take centre stage at 15th Eenhana Expo

The 15th Eenhana Annual Trade and Business Expo is currently underway in the Ohangwena Region. A new feature at this year’s event is a cooking training and competition designed to develop skills among small and medium enterprise (SME) owners. Ohangwena Governor Kadiva Hamutumua says the expo is focused on youth empowerment, entrepreneurship, sport, arts, and health. The event aims to give local businesses and young people a platform to showcase […]

30 July, 2025

Business / Economics

South Africa must diversify trade

South Africa’s envoy to the United States, Mcebisi Jonas, says the country must broaden its trade relationships as it faces potential tariff changes and uncertainty over the future of the African Growth and Opportunity Act (AGOA). Jonas made the remarks ahead of an expected announcement by U.S. President Donald Trump on trade policies related to Africa. He said African countries should take the lead in navigating global trade, despite challenges […]

30 July, 2025