Private Sector Credit Growth Remains Modest in April

Private Sector Credit Growth Remains Modest in April

In April, private sector credit extension grew by 1.6% year-on-year, showing a slight improvement from the 1.3% growth recorded in March. However, this figure represents a significant decline from the 2.5% year-on-year growth seen in April 2023. The PSCE growth rate remains below the six-month moving average and is the second-lowest rate recorded in 2024. Simonis Storm Economist- Halleluya Ndimulunde.

June 4, 2024 69

Namibia

Namibian Leaders Praise South Africa’s Peaceful Elections as ANC Loses Majority

President, Nangolo Mbumba congratulated South Africa for the peaceful conduct of their recent national elections, highlighting the importance of maintaining order during such processes. Despite the ruling African National Congress losing its parliamentary majority with only 40% of the vote, Mbumba emphasized elections should renew mandates without causing harm. Elsie Nghikembua, Chairperson of the Electoral Commission, also lauded South Africa's electoral process and noted valuable lessons for Namibia's upcoming elections, […]

June 4, 2024 16

Namibia

Politicians urged to simplify manifestos to engage young voters

https://youtu.be/94YOzZof2fs By: Valeria Handobe, via News on One Popular Democratic Movement (PDM) Youth Leader and Head of Communications, Julia Nekwaya called on political parties to make their manifestos more digestible for young voters. Nekwaya was speaking at the EduVote panel discussion, hosted by the Global Shapers - Windhoek hub, which aims to amplify the voices and perspectives of young voters, encouraging them to actively engage […]

June 3, 2024 18

Namibia

Government Rejects Commercial Cannabis Cultivation for Medicinal Use As South Africa Legalizes Private Consumption

The Health and Social Services minister has decided against legalizing commercial cannabis cultivation for medicinal purposes, citing the effectiveness of current treatments. According to The Brief, Minister Dr. Kalumbi Shangula stated that existing medications delivered through intramuscular or intravenous methods are adequate for pain management. This decision follows a directive from the Cabinet in 2022 to investigate the demand and health risks associated with medicinal cannabis. Meanwhile, South African President […]

June 3, 2024 17

Namibia

Namibia’s Startup Ecosystem Surges As Windhoek Climbs Global Rankings

Namibia's startup ecosystem is thriving, ranking 8th in Africa and showing remarkable progress with Windhoek's surge in global city rankings. According to The Brief, the ecosystem is characterized by stability, fostering innovation and entrepreneurship. Leading startups in Windhoek span hardware, marketing, fintech, and e-commerce. However, challenges persist, including limited infrastructure, bureaucratic hurdles, and funding constraints. Organizations like the Namibia Investment Promotion and Development Board and Startup Namibia are crucial in […]

June 3, 2024 13

Namibia

Desert Jewels to play in Australia

Senior national netball team head coach, Julene Meyer says the Debmarine Namibia Desert Jewels’ trip to Australia will provide national players with an opportunity to learn from opponents who play the game professionally. Netball Namibia is sending a team of 15 athletes and officials to participate in the prestigious Pacific Netball Series, which will take place from 10 to 15 June 2024 in Brisbane, Australia. Team Namibia is […]

June 3, 2024 67

Namibia

Annual Nama Cultural Festival Highlights Unity and Development

Dawid #Eigub, chairperson of the Nama Cultural Festival organizing committee, emphasized the role of culture in unifying the Nama people, reshaping society, and transferring indigenous knowledge to the youth. At the festival's opening, he stressed the theme of unity and called for discussions to reconnect the Nama with their heritage. #Eigub encouraged new habits for regional development and advocated for Nama ownership of local resources like green hydrogen, oil, and […]

June 3, 2024 28

Namibia

INTERVIEW: Katutura Residents Committee Member Shaun Gariseb on City of Windhoek Debt Write-Off Update

In a recent address, Shaun Gariseb, a committee member of the Katutura Residents Committee, provided an update on the City of Windhoek's (CoW) debt write-off programme. The programme, which aimed to alleviate financial burdens for residents, officially concluded on Friday, May 31. However, Gariseb highlighted several critical issues and concerns regarding its implementation and impact. Debt Relief Programme's End and Resulting Challenges Gariseb began by noting the end of […]

June 3, 2024 15

Interview Transcripts

INTERVIEW: Business and Economics Researcher Josef K. Sheehama on Investor Sentiment

In a recent discussion, business and economics researcher Josef K. Sheehama delved into the complex dynamics of investor sentiment, particularly in the context of foreign investment in Namibia. The interview, held late on Sunday evening, highlighted the nuanced perspectives of investors as they navigate the uncertain political and economic landscape. Investor Hesitancy in Uncertain Times Sheehama pointed out that foreign investors are currently adopting a "wait and see" approach. […]

June 3, 2024 12