Local manufacturing of drones is on the rise in Africa

Local manufacturing of drones is on the rise in Africa

By Bonface Orucho, bird story agency Rising demand for unmanned aerial vehicles used in various commercial applications is fueling the growth of the local drone manufacturing industry as startups and governments ramp up production within the continent. Following South Africa's successful test flight of the Milkor 380, a groundbreaking unmanned aerial vehicle (UAV) capable of carrying up to 1300 kilograms among other unique capabilities, the landscape is […]

April 11, 2024 23

Business / Economics

Transforming Namibia’s economy with effective trade and industrial Policies

Opinion Piece by Josef Kefas Sheehama The political climate in Namibia is among the African most tranquil and stable. In order enhance Namibia's potential growth rate, reforms must be put in place for the country's economy to continue on a sustainable path. One of the main obstacles to Namibia's industrial development, especially for small and medium-sized businesses, has been a lack of human and financial resources. Because institutions […]

April 11, 2024 20

Business / Economics

04-11 April 2024 Weekly Economics Wrap

Africa Global Logistics Wins Contract for Walvis Bay Terminal: Africa Global Logistics (AGL) has secured the contract to oversee operations at the Walvis Bay Multipurpose Bulk Terminal in Namibia. AGL aims to facilitate access to SADC markets and invest in modern infrastructure to drive economic growth in the region. The company plans to support Namibia's energy, mining, and industrial projects by offering integrated services adhering to global standards. Namibia-China Trade […]

April 11, 2024 13

Business / Economics

11 April 2024 Morning Biz News: Biz Update: Key Developments in Namibia, South Africa, China, and Global Markets

1. Namibia-China Trade Surges: Namibia's trade relations with China have surged, marking a significant milestone with bilateral trade volumes surpassing N$24 billion in 2023. China solidifies its position as Namibia's second-largest trading partner, experiencing a notable 16.5% year-on-year growth in trade volume. 2. Sibanye Stillwater's Financing Strategy: South African company Sibanye Stillwater unveils plans to potentially raise around $500 million through prepayment arrangements, including metals streaming. This strategic move aims […]

April 11, 2024 35

Business / Economics

FNB Namibia economist forecasts April inflation

Following the release of the Consumer Price Index for March 2024, which shows the annual inflation rate stood at 4.5% compared to 7.2% recorded in March 2023, by the Namibia Statistics Agency, we contacted Helena Mboti an economist at FNB Namibia to get the bank's inflation forecasts for April 2024.

April 10, 2024 71

Africa

Zimbabwe’s banks caught off guard by new gold-backed currency

The Zimbabwe Gold officially started trading just days after it was announced it would replace the Zimbabwean dollar, which has tumbled in value over the past year, pushing inflation through the roof. But many in the country were not ready for the switch. Eddie Cross an economist from Zimbabwe says even the banks haven’t been fully able to translate their accounting systems.

April 10, 2024 43

Business / Economics

Bank of Namibia joins Cirrus Investor Conference for global connectivity

The Bank of Namibia has participated in the 5th Cirrus Investor Conference held in Swakopmund from 9 to 10 April. The conference was held to facilitate connections between Namibian securities issuers and international investors, bringing together various stakeholders. Governor Johannes !Gawaxab delivered the opening address, discussing Namibia's economic trajectory and financial outlook in light of global forces. Naufiku Hamunime BoN's Principal: International Relations and Sustainability, has more.

April 10, 2024 32

Africa

More African founders secure $1M+ Funding in new trend

By Seth Onyango, bird story agency Start-ups in Africa are increasingly hauling in US$1 million or more in funding, even as the investment climate on the continent cools off. Data from Africa: The Big Deal, shows ventures raising over US$1 million thrive due to their bankability, suggesting a selective but keen interest from investors amidst a cautious investment backdrop. "While the amount raised quarterly is […]

April 10, 2024 8

Africa

West Africa’s falling fish stocks: illegal Chinese trawlers, climate change and artisanal fishing fleets to blame

By Robert Paarlberg, Harvard University Average fish catches by traditional fishing communities along the west African coast have declined significantly over the past three decades. Along the Gulf of Guinea, stretching from Côte d'Ivoire to Nigeria, fishers launch their wooden canoes from the beach to catch small pelagic fish, like sardines and anchovies, which they sell into local informal markets to make a living. They have done […]

April 10, 2024 6