3 May 2024 Morning Biz News: Business Highlights: Benguela Blue Aqua Farming Prepares for Salmon Harvest, South African Manufacturing Surges, and Exxon Mobil Sale Nears Approval”

3 May 2024 Morning Biz News: Business Highlights: Benguela Blue Aqua Farming Prepares for Salmon Harvest, South African Manufacturing Surges, and Exxon Mobil Sale Nears Approval”

Benguela Blue Aqua Farming Set to Launch Salmon Farming Operation: Benguela Blue Aqua Farming is gearing up to kickstart its salmon farming operation in the fourth quarter of 2025. The inaugural salmon harvest is anticipated to take place during the same period in 2026, as reported by The Brief. This development signals significant progress in the aquaculture industry, promising potential growth and opportunities in the coming years. South African […]

May 3, 2024 48

Business / Economics

March 2024 export earnings up by 36.5%

The Namibia Statistics Agency has announced that during March 2024, Namibia’s export earnings recorded an increase of 36.5 percent from N$6.1 billion recorded in February 2024 to N$8.3 billion. Moreover, the import bill for the month under review increased by 27.9 percent from N$10.0 billion recorded during the preceding month, resulting in a worsened trade deficit of N$4.5 billion when compared to a trade deficit of N$3.9 billion recorded in […]

May 2, 2024 81

1

Business / Economics

New salmon farm at Lüderitz to create 600 fobs

Namibia has broken ground on the largest salmon farm at Lüderitz today. Facilitated by the Namibia Investment Promotion and Development Board, Benguela Blue Aqua Farming is set to pioneer salmon farming in Namibia and become one of the largest salmon farming projects in Africa. The project is expected to create 600 direct and about 1500 indirect jobs. Here’s Johannes Aldrian, the Co-Founder and Managing Director of Benguela Blue Aqua Farming, […]

May 2, 2024 209 1

Business / Economics

Ondangwa Trade Fair draws 90,000 visitors

The Ondangwa Trade Fair is underway in the Oshana region. The fair brings together B2B exhibitors as well as over ninety thousand visitors from all sectors. We spoke to the town’s CEO Ismael Namgongo for more details.

May 2, 2024 78

Business / Economics

Enhancing Digital Transformation: Innovations and Obstacles in East Africa

By Robert van Breukelen, CEO at Itemate Solutions The telco sector is poised to play a central role in Ethiopia’s economic and digital transformation, but should learn from other countries to avoid common pitfalls and accelerate development. In recent years, countries in the eastern and north-eastern African region have launched several exciting initiatives aimed at accelerating the adoption of digital technologies. Digital transformation in East Africa Powered […]

May 2, 2024 13

Africa

Global tech giants in Africa AI gold rush

By Conrad Onyango, bird story agency Global technology giants including Microsoft, IBM, Huawei, Nvidia, and Google are lining up to tap into a multi-billion dollar opportunity in the nascent Artificial Intelligence (AI) market. The five multinationals tops the list of more than 100 tech companies across the globe that will feature in the ‘AI Everything’ forum in this year’s GITEX Africa 2024, the continent's premier tech and […]

May 2, 2024 27

Business / Economics

25 April-2 May 2024 Weekly Economics Wrap: Insights into Global Economic Developments

As the week unfolds, significant economic events and developments have shaped various sectors, both domestically and internationally. Here's a concise overview of the key highlights from the world of economics: 1. OPEC's Potential Collaboration with Namibia: OPEC, the Organization of the Petroleum Exporting Countries, is eyeing potential collaboration with Namibia as the country gears up for its inaugural offshore oil production by 2030. Secretary General Haitham Al Ghais revealed that […]

May 2, 2024 8

Business / Economics

2 May 2024 Morning Biz News: Financial Highlights and Market Updates

Momentum Metropolitan Holdings Shines with Strong Earnings Momentum Metropolitan Holdings has kicked off the fiscal year ending December 31 with a resounding success, as evidenced by its robust earnings report for the first half. The company, particularly its operations in Namibia, played a pivotal role in driving this performance. Momentum Metropolitan Africa witnessed a significant surge in normalized headline earnings, largely attributed to increased investment income from Namibia. This underscores […]

May 2, 2024 18

Africa

NBA Africa ‘hoops’ into African tech with a startup accelerator

By Bonface Orucho, bird story agency The NBA, through its business franchise in Africa, NBA Africa, has stepped onto Africa's tech startup scene, launching an accelerator tailored for early-stage startups in sports and creative industries. In a statement, NBA Africa explained that the initiative, known as the Triple-Double: NBA Africa Startup Accelerator, will support Africa’s tech ecosystem and the next generation of African tech entrepreneurs by […]

April 30, 2024 9