Cultural wealth can drive economic growth in African cities

By Bonface Orucho, bird story agency With the right policies, African cities hold immense potential to drive significant economic growth by capitalizing on their rich cultural heritage and harnessing the creativity of their youthful populations, according to a new report. “Africa’s urban landscapes are not just repositories of heritage and tradition; they are dynamic centres of innovation, awaiting the right policies to support unlocking their full potential,” the […]

March 25, 2024 25

Africa

Kigali is Africa’s fastest rising international financial centre

By Conrad Onyango, bird story agency Rwanda’s deliberate move to carve a niche in sustainable finance is helping to grow Kigali as Africa’s next significant International Financial Centre. The capital city has climbed up 18 spots, the highest in Africa and third highest globally, in the 35th edition of the Global Financial Centers Index (GFCI) rankings, placing it third in Africa and 67th globally. “The greatest improvements were […]

March 25, 2024 15

Business / Economics

Why do identical informal businesses set up side by side? It’s a survival tactic – Kenya study

By Tim Weiss, Imperial College London The population on the African continent will have nearly doubled by 2050, according to UN projections. About 800 million more young Africans will enter the job market by then. Combine this forecast with the high youth unemployment rate in many African countries today, then the pressing question is: who will create stable jobs at mass scale? Many policies to create […]

March 25, 2024 5

Business / Economics

Worried about how to support your child’s education? Here are four useful steps you can take

By Benta A. Abuya, African Population and Health Research Center Parents play a crucial role in supporting their children’s learning. Their involvement lays the foundation for success both inside and outside the classroom. This makes a parent’s consistent support and nurturing important at every stage of formal schooling, and even before that. The key lies in creating a supportive and encouraging environment at home. In the school […]

March 25, 2024 21

Business / Economics

25 March 2024 Morning Biz News: Financial Insights: Updates from the Global Market

1. Fitch Ratings Affirms Development Bank of Namibia's Ratings Despite Losses Fitch Ratings recently announced its decision to maintain the Development Bank of Namibia Limited's Long-Term Issuer Default Ratings at 'BB-' and its National Long-Term Rating at 'AA+(zaf)', with a stable outlook. Despite facing a setback with a N$270 million loss in the 2023 financial year due to high loan impairment charges, Fitch remains optimistic about the bank's future. The […]

March 25, 2024 13

Business / Economics

Global Financial Landscape: Collaborative Initiatives and Market Dynamics

Germany and Namibia Join Forces for Green Hydrogen Initiative In a significant stride towards sustainable energy development, Germany and Namibia have inked a pivotal agreement to bolster the Green Hydrogen Namibia Programme. This collaborative effort signifies a dedicated push towards constructing local H2 value chains aimed at fostering socio-economic growth while prioritizing environmental sustainability. The Green Hydrogen Namibia Programme, a newly established organization, emerges as a beacon of hope in […]

March 22, 2024 5

Business / Economics

Namibia’s Visitor Arrivals Surge in February

Official figures reveal a notable increase in Namibia's visitor arrivals in February, reaching over 37 thousand, marking an 8.1% month-on-month surge and a significant 26.1% year-on-year rise. According to a tourism report by IJG Securities, February 2024 arrivals surpassed pre-pandemic levels from February 2019 by 15.5%. Gitta Paetzold, CEO of the Hospitality Association of Namibia, comments on the trend.

March 22, 2024 28

Business / Economics

Common Monetary Area payments set to change

The banking sector will, as of 15 April 2024, change the way clients make and receive payments between Namibia, Eswatini, Lesotho, and South Africa. After that date all cross-border EFT payments processed and received by clients within the Common Monetary Area will no longer be processed as domestic payments, but will instead be initiated as global, or international payments. Here is FNB Namibia Payments Manager Albert Matongela with more.

March 22, 2024 46

Business / Economics

Climate quitting: the people leaving their fossil fuel jobs because of climate change

Mayuree Moonhirun/Shutterstock Gemma Ware, The Conversation As the climate crisis gets ever more severe, the fossil fuel industry is struggling to recruit new talent. And now a number of existing employees are deciding to leave their jobs, some quietly, some very publicly, because of concerns over climate change. In this episode of The Conversation Weekly podcast, we speak to a researcher about this phenomenon of “climate quitting”. My name is […]

March 22, 2024 42

Business / Economics