Namibia to Host Oil and Gas Conference in August

Namibia to Host Oil and Gas Conference in August

Namibia will hold the Oil and Gas Conference in Windhoek from 20-22 August 2024. The event will gather key players in Namibia's oil and gas sector, along with civil society and the public, to discuss the potential, opportunities, and risks of developing the country's oil and gas industry. Chairperson of the Economic Association of Namibia, Jason Kasuto.

July 31, 2024 109

Business / Economics

Fuel Prices Hold Steady for August

The Mines and Energy ministry has announced that fuel prices will remain the same for August. In Walvis Bay, petrol will continue at N$22.20 per litre, with diesel priced at N$21.57 for 50ppm and N$21.67 for 10ppm. The Ministry's Economist Taramaris Amadhila.

July 31, 2024 43

Business / Economics

31 July 2024 Morning Biz News: Ohlthaver & List Completes Full Acquisition of Broll Namibia; Rand and Yen Show Market Movements; Oil Prices Rebound Slightly

Ohlthaver & List Acquires Full Ownership of Broll Namibia Windhoek, Namibia – The Ohlthaver & List (O&L) Group has solidified its position in the property services sector by acquiring the remaining 49.9% of shares in Broll Namibia from the Broll Property Group (Pty). The deal, which took effect on 1 July 2024, makes O&L the sole shareholder of Broll Namibia. This strategic acquisition underscores O&L's commitment to expanding its footprint […]

July 31, 2024 30

Africa

Dangote’s bid buy crude in Nigerian currency approved

Nigeria's government has approved the sale of crude oil to the Dangote refinery in the local currency, the Naira. The government asked the state-owned oil company, Nigerian National Petroleum Company Limited to sell the crude to Dangote and other refineries with immediate effect. The decision puts an end to the dispute between Dangote refinery and oil regulators over crude supply. Reuters reports that the $20 billion Dangote refinery, Nigeria's […]

July 30, 2024 24

Africa

Biden Administration supports AGOA re-authorisation

The Biden administration is supporting the early extension of the African Growth and Opportunity Act, allowing over 30 sub-Saharan African countries to maintain duty-free access to the U.S. market. Joy Basu, the Deputy Assistant Secretary of State in the Bureau of African Affairs, confirmed this during a press briefing, saying the United States supports an early re-authorization before AGOA expires in September 2025. Since its enactment in 2000, the […]

July 30, 2024 33

Business / Economics

Puma Energy Namibia adds free Wi-Fi to Windhoek filling stations

Puma Energy Namibia has completed free Wi-Fi installation at 10 of its Windhoek service stations, with the remaining three set to be operational this week. The company plans to extend free Wi-Fi services to about 90% of Puma Energy Namibia sites nationwide. Here is Puma Energy Namibia’s General Manager Adell Samuelson, with more. The company recently announced its financial results for the three months ending 31 March 2024. Puma […]

July 30, 2024 73

Business / Economics

Auto industry faces new guidelines

The Namibian Competition Commission is developing industry guidelines to address anti-competitive practices in the automotive sector. The proposed guidelines will, according to the Commission, improve market conditions by promoting fair competition, transparency, and consumer protection. The development follows an investigation launched in 2018 into the conduct of original equipment manufacturers, vehicle dealerships, and panel beaters. NaCC spokesperson Dina //Gowases.

July 30, 2024 37

Business / Economics

INTERVIEW: Business and Economics Researcher Josef K. Sheehama Talks to Future Media’s Leonard Witbeen on Economic Views

Recently, Josef K. Sheehama, a distinguished business and economics researcher, shared his insights on the future of Namibia’s economic landscape. With a career spanning over two decades in banking and finance, Sheehama, who currently manages private banking at Standard Bank, discussed the differences between green hydrogen and the blue economy and how Namibia can leverage its resources to boost economic development and job creation. The Green Hydrogen vs. Blue Economy […]

July 30, 2024 30

4

Africa

Ethiopia Secures $3.4 Billion IMF Agreement Amid Currency Reforms

Ethiopia has reached an agreement with the International Monetary Fund for a new $3.4 billion financing program, as announced by the IMF on Monday says Reuters. This agreement follows Ethiopia's decision to float its birr currency, a significant move aimed at securing IMF support and advancing a long-overdue debt restructuring process. The country, grappling with high inflation and persistent foreign currency shortages, became the third African economy to default on […]

July 30, 2024 11 4