Dr. Hangala urges authentic local participation in the oil and gas sector

Dr. Hangala urges authentic local participation in the oil and gas sector

Speaking at the Namibian Local Content Conference 2024 that is underway in Lüderitz, Dr. Leake Hangala said Namibian-owned companies, to efficiently facilitate local development in the oil and gas sector, should not be used as conduits. Hangala also outlined the government's role in the process. The conference is tackling ways to ensure that the country's oil and gas discoveries benefit Namibians, and today’s focus was on identifying opportunities to […]

April 18, 2024 72

Africa

How to end hunger in sub-Saharan Africa: fight inequality, gender imbalances and climate change

By Helen Onyeaka, University of Birmingham A greater part of Africa’s population can’t afford a healthy diet than any other regional population. Food insecurity in sub-Saharan Africa is caused by climate change, high levels of poverty, rapid population growth, low economic growth, inadequate infrastructure and conflicts. Women are the backbone of agricultural labour in the region. The problems of limited access to land, water and technology faced […]

April 18, 2024 18

Business / Economics

11-18 April 2024 Weekly Economics Wrap: Insights from Around the Globe

Namibian Financial Landscape: The Bank of Namibia has decided to maintain the repo rate at 7.75 percent, signaling a cautious approach to monetary policy amid economic uncertainties. Sanlam Namibia reported significant growth in assets, reaching N$4.6 billion in 2023. CEO Tertius Stears expressed confidence in the company's performance, anticipating further growth in policy liabilities. Developments in South Africa: The South African rand experienced depreciation against the U.S. dollar amidst escalating […]

April 18, 2024 14

Business / Economics

18 April 2024 Morning Biz News: Latest Financial Indicators and Business News Recap

Bank of Namibia Maintains Repo Rate: The Bank of Namibia has announced its decision to keep the repo rate steady at 7.75 percent, alongside a stable prime lending rate of 11.50 percent. This marks the second monetary policy announcement by the BoN this year, indicating a cautious approach to economic management. South Africa Sees Decrease in Consumer Inflation: Consumer inflation in South Africa saw a slight decrease in March, falling […]

April 18, 2024 24

Africa

Nigeria cracks down on illegal jet operations

Nigeria has suspended the licenses of three private jet operators in the country. Aviation authorities say they were engaged in commercial operations in violation of the law. Tesem Akende reports from Jos.

April 17, 2024 33

Business / Economics

Namibian Local Content Conference 2024 underway at Lüderitz

The Namibian Local Content Conference 2024 is currently underway in Lüderitz. The conference is tackling ways how to ensure that the country's oil and gas discoveries benefit Namibians. Minister of Mines and Energy, Tom Alweendo, said that it also presents an opportunity for the business community to contribute to the policy framework. Erik De Waal from the Development Bank of Namibia explained the types of financing that could support […]

April 17, 2024 143

Business / Economics

Uranium One completes 50% of exploration drilling in Leonardville

Uranium One, a Russian state-owned company that specialises in uranium exploration, mining, and processing has started exploration drilling in Leonardville. Aldo Hengari, the Director of Operations at Uranium One says 50 percent of the work is done. According to the World Nuclear Association, Namibia has some of the largest uranium-producing mines in the world. These include Uranium One, Husab, and Rössing. In 2022 Kazakhstan produced the largest share of uranium […]

April 17, 2024 77

Business / Economics

Bank of Namibia holds repo rate at 7.75%

The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, with the prime lending rate holding steady at 11.50 percent. This is the second monetary policy announcement by BoN this year. Governor of the Bank Johannes !Gawaxab. Governor !Gawaxab highlighted that risks to the domestic economic outlook have remained broadly unchanged since the previous MPC meeting, although the conflict in […]

April 17, 2024 30

Africa

Volvo’s e-truck rental program is a milestone for Africa’s e-mobility quest

By Bonface Orucho, bird story agency Swedish automaker Volvo has introduced an electric truck rental program under the Equipment-as-a-Service (EaaS) model in South Africa in a move that could cut huge emissions from the transport sector. The company also intended the service to democratise access to eco-friendly transport solutions in Africa. “The intention is to bring down the “barrier to entry” for those with the environmental ambition to […]

April 17, 2024 31