insert_link Business / Economics Nokia sees ‘challenging’ 2024 after profits plunge Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in the 2023. Nokia and its Swedish rival Ericsson have launched cost-cutting programmes as their customers have reduced spending amid a slowing global economy. The Finnish firm reported a profit of 679 million euros ($739 million) for last year, down 84 percent […] todayJanuary 25, 2024 14
Africa IMF tracking shows that no African state has sought comprehensive debt relief in over a year indicating a trend of growing fiscal hygiene across the region By Seth Onyango, via bird story agency Countries in Africa are showing signs of improving fiscal management, as they navigate through a cascading set of global shocks that exacerbated their debt vulnerabilities. Remarkably, no state has sought comprehensive debt relief since Ghana’s request over a year ago, signalling a trend of growing fiscal discipline across the region. The improvement bucks the trend of recent years, given that […] todayJanuary 25, 2024 7
insert_link Africa BIZ NEWS JANUARY 25, 2024: Namibian Government Rules Out Immediate National Airline, Hints at Regional Carrier Future In the wake of Air Namibia's 2021 liquidation, the Namibian government has officially dismissed any immediate plans for a new national airline. Works and Transport Minister John Mutorwa conveyed this decision, while also offering a glimpse of hope for the emergence of a future Namibian-flag carrier. Mutorwa hinted at the possibility of a smaller, regional airline taking flight down the line. [Read more] South Africa's Inflation Sees Further Decline in […] todayJanuary 25, 2024 4
insert_link 3 Business / Economics Namibia’s investment ambassador Michelle McLean bridges sectors globally Namibia's Investment Promotion and Development Board Consultant, Michelle McLean, who also serves as a Tourism and Investment Brand Ambassador Chairperson and International Business Developer at the Ohlthaver and List Group, shares that she brings together the public and private sectors. Her role involves facilitating collaboration, sharing opportunities, and promoting Namibia globally. todayJanuary 24, 2024 68 3
insert_link Africa Zambia ratifies Walvis Bay-Ndola-Lubumbashi corridor agreement Zambia has ratified the Walvis Bay-Ndola-Lubumbashi Development Corridor Tripartite Agreement, a key trade route connecting Walvis Bay in Namibia, Ndola in Zambia, and Lubumbashi in the Democratic Republic of the Congo. The agreement facilitates enhanced regional connectivity and trade. Ndumbi Mvula, the Public Relations Officer at Zambia's Ministry of Transport and Logistics, gives additional details. todayJanuary 24, 2024 64
insert_link Business / Economics EU-twinning project supports Namibia’s economic growth The EU-Twinning Project, "Support to the Namibian Standards Institution," is concluding on 31 January 2024, after a 24-month period. Initiated in February 2022, the project, supported with N$ 27 million, has contributed to Namibia's international trade participation, economic growth, and the capacity of the Namibian Standards Institution. Here is Anna Sjögren from the EU Twinning Team. todayJanuary 24, 2024 21
insert_link Africa African startups turn to debt as equity powder dries up By Conrad Onyango, via bird story agency In 2022, when funding from venture capitalists began to dry up in Africa, Treepz, a shared mobility startup, was faced with a difficult decision... throw in the towel or grow the business without new investors. As part of their decision to keep going, they changed their core business model. “Towards the end of 2022, we knew the funding draught would happen […] todayJanuary 24, 2024 11
insert_link Business / Economics Financial Resilience: Strategies for Navigating Economic Uncertainty in the New Year By Jo-Ann van Wyk, Client Relationship Consultant, Old Mutual Investment Group, Old Mutual Namibia Stepping into a new year requires more than normal financial planning in the ever-changing landscape of economic challenges. Financial resilience is a systematic strategy to navigating unpredictable market dynamics, geopolitical developments, and unanticipated global events. Building a strong financial foundation begins with the establishment of an emergency fund. Recent worldwide financial crises have highlighted […] todayJanuary 24, 2024 18
insert_link Business / Economics King coal set to lose crown for electricity production: IEA Renewables are set to displace coal as the top source of energy for electricity production globally in 2025, the International Energy Agency said Wednesday. In its annual report on the electricity market, the IEA said that renewables -- in particular from solar panels -- should see their share of total electricity production surpass a third of the total, passing from 30 percent last year to 37 percent in 2026. If […] todayJanuary 24, 2024 13
