5 July 2024 Morning Biz News: Global Financial Insights: Namibia’s Energy Exploration Highlights, Currency Movements, and Major Market Developments

5 July 2024 Morning Biz News: Global Financial Insights: Namibia’s Energy Exploration Highlights, Currency Movements, and Major Market Developments

Shell and Galp Energies Applauded for Namibian Exploration Achievements Research firm Wood Mackenzie Exploration Survey has acknowledged Shell and Galp Energies for their notable contributions to the exploration sector, with a special emphasis on their work in Namibia. According to The Brief, the survey gathers insights from industry professionals, who are asked to identify the most admired explorers, excluding their own companies. This recognition highlights the significant strides both companies […]

July 5, 2024 17

Business / Economics

Swaitex organisers invite SMEs to showcase their products

With the Swakopmund International Trade Expo currently underway in the Erongo region. The organiser of the event, the Namibia Chamber of Commerce and Industry’s CEO, Charity Mwiya has invited SMEs to network and showcase their products at this year’s Swaitex. Future Media Tara van Eck spoke to Mwiya earlier today.

July 4, 2024 38

Business / Economics

49% of Namibian consumers struggle with high cost of living

Namibian households are struggling financially amid high living costs, according to the latest findings from the Consumer Pulse Study conducted by TransUnion. The study reveals a significant increase in financial strain, with 49% of consumers now anticipating difficulty in fully paying their current bills and loans, up from 45% in Q3 2023. Lara Enslin, CEO of TransUnion Namibia, stressed that these findings reveal a proactive approach by consumers to manage […]

July 4, 2024 35

Business / Economics

Oil discoveries make Namibia a top business travel destination

Oil and gas discoveries in Namibia are transforming the country into a high-end business travel destination from a tourist locale for a South African airline. Bloomberg Africa reports that Total Energies SE and Shell Plc have found an estimated 11 billion barrels of oil reserves in Namibia, in what is touted as potentially the biggest-ever deep water find. Namibia has yet to produce crude or gas but has become an […]

July 4, 2024 48

Business / Economics

Botswana’s Masisi proposes energy partnership with Namibia

Speaking at the official opening of the annual Swakopmund International Trade Expo, which is organised by the Namibia Chamber of Commerce and Industry, Botswana’s President Mokgweetsi Masisi announced that Namibia and Botswana will collaborate in the energy sector by setting up a fuel storage facility at Walvis Bay.

July 4, 2024 34

Africa

Africa can transform its aviation sector by harnessing new routes – report

By Bonface Orucho, bird story agency A new study by European aircraft manufacturer Airbus reveals that West Africa holds the potential for an aviation revolution leveraging its booming population, diverse economies, and strategic geographical position to open up new routes. The study ‘Exploring the horizons: A study of unserved air routes to, from and within Africa’ highlights that nine out of the top […]

July 4, 2024 14

Business / Economics

BIPA to Consult Stakeholders on Beneficial Ownership Sanctions Implementation

The Business and Intellectual Property Authority has announced its intention to engage stakeholders in consultations regarding concerns surrounding beneficial ownership sanctions. This initiative seeks to address and clarify issues raised by stakeholders regarding the implementation and impact of these sanctions.Here is Ockert Jansen, BIPA's Executive of Marketing, Corporate Communications, and Client Management Services.

July 4, 2024 21

Business / Economics

27 June-4 July 2024 Weekly Economics Wrap

In this week's economic highlights, several key developments have shaped the financial landscape across Southern Africa and beyond. Namibia OK Foods reported the largest overall year-on-year decrease in basket cost among the seven stores surveyed by The Brief. The basket cost close to N$1100 in June last year, compared to N$984.11 this past June, marking a significant drop of 11.65%. In a move that could bolster regional fuel supply chains, […]

July 4, 2024 18

Business / Economics

4 July Morning Biz News: Global Markets Surge Amid Economic Optimism and Strategic Oil Sector Moves

1. Botswana and Namibia Explore Fuel Storage Collaboration In a move aimed at enhancing regional fuel logistics, Botswana President Mokgweetsi Masisi has announced that the Botswana Oil Company is in talks with the Namibia National Petroleum Corporation (NNPC) to establish shared fuel storage facilities at Walvis Bay. This collaboration seeks to optimize fuel transportation and streamline oil sourcing from Angola, potentially bolstering efficiency across the supply chain. 2. South African […]

July 4, 2024 19