insert_link Business / Economics 23 April 2024, Moring Biz News: Biz News Update: Key Developments in Agriculture, Currency Markets, and Commodities Namibian Cereal Production Faces Significant Decline: The Ministry of Agriculture, Water, and Land Reform in Namibia has projected a substantial decrease in cereal production, primarily due to unpredictable rainfall patterns and prolonged dry spells. The commercial farming sector is particularly affected, with an estimated harvest of only 35,200 metric tons. This marks a drastic 68% decrease compared to last season's production levels, highlighting the challenges faced by the agricultural […] todayApril 23, 2024 13
insert_link Business / Economics 22 April 2024 Morning Biz News: MortgageMarket Expands Horizons: Launches Operations in Namibia, Spearheading Accessible Home Loans Beyond South Africa MortgageMarket, a pioneering online home-loan marketplace platform based in South Africa, has embarked on an ambitious expansion strategy by launching operations in Namibia. Founded in 2019 by Tim Akinnusi, a seasoned banking executive, the platform has revolutionized the process of securing financing for property acquisitions, catering to the needs of customers, property developers, and estate agents alike. The move into Namibia marks a significant milestone for MortgageMarket, as it extends […] todayApril 22, 2024 15
insert_link Business / Economics 11-18 April 2024 Weekly Economics Wrap: Insights from Around the Globe Namibian Financial Landscape: The Bank of Namibia has decided to maintain the repo rate at 7.75 percent, signaling a cautious approach to monetary policy amid economic uncertainties. Sanlam Namibia reported significant growth in assets, reaching N$4.6 billion in 2023. CEO Tertius Stears expressed confidence in the company's performance, anticipating further growth in policy liabilities. Developments in South Africa: The South African rand experienced depreciation against the U.S. dollar amidst escalating […] todayApril 18, 2024 10
insert_link Business / Economics 18 April 2024 Morning Biz News: Latest Financial Indicators and Business News Recap Bank of Namibia Maintains Repo Rate: The Bank of Namibia has announced its decision to keep the repo rate steady at 7.75 percent, alongside a stable prime lending rate of 11.50 percent. This marks the second monetary policy announcement by the BoN this year, indicating a cautious approach to economic management. South Africa Sees Decrease in Consumer Inflation: Consumer inflation in South Africa saw a slight decrease in March, falling […] todayApril 18, 2024 17
insert_link Business / Economics 15 April 2024 Morning Biz News: Transforming Elizabeth Bay: Standard Bank’s Energy Park Initiative In a bid to ignite infrastructure growth and leverage Namibia's resource potential, Standard Bank has unveiled an ambitious plan to rebrand Elizabeth Bay into an Energy Park, as reported by The Brief. This strategic move is poised to reshape the landscape of Elizabeth Bay, a mining community nestled 25 kilometers south of Lüderitz on Namibia's southern coast. The vision behind the Energy Park initiative extends beyond mere revitalization; it aims […] todayApril 15, 2024 24
insert_link Business / Economics 12 April 2024 Morning Biz News: GIPF’s ESG Investments, WeBuyCars IPO, Oil Price Surge, and Currency & Commodity Updates GIPF Ventures into ESG Investments: The Government Institutions Pension Fund (GIPF) is diversifying its investment portfolio by exploring opportunities in Environmental, Social, and Governance (ESG) sectors. With a focus on sustainable development, GIPF aims to collaborate with fund managers whose policies align with ESG principles. Targeting initiatives like SDG Namibia One and green climate fund managers, GIPF emphasizes its commitment to responsible investing. WeBuyCars Makes Splash on JSE: South African […] todayApril 12, 2024 14
insert_link Business / Economics Morning Biz News – April 10, 2024: Galp Energia’s N$2.4 Billion Namibian Investment, Rand Strength, and Market Stability Dominate Financial Landscape” Galp Energia Invests N$2.4 Billion in Namibia, Prioritizing Local Suppliers Galp Energia, a prominent player in the energy sector, has announced a significant investment of approximately N$2.4 billion in Namibia's upstream projects in 2023. Notably, over 61% of this investment has been allocated to local suppliers, underlining the company's commitment to fostering local economic growth. Filipe Silva, CEO of Galp Energia, emphasized the company's strategic focus on growth, with a […] todayApril 10, 2024 16
insert_link Business / Economics 09 April 2024 Morning Biz News: Latest Financial Highlights: Growth, Strength, Collaboration, and Market Insights The Namibia Depository Guarantee Authority reported a growth in its investment value to N$16.2 million by the end of the 2022 financial year, attributed to received premiums and interest earnings. Florette Nakusera, NDGA's head, affirmed the security of the fund's assets, which were invested in line with approved policies and guidelines. South Africa's rand saw a boost following central bank data indicating a rise in foreign reserves last month. By […] todayApril 9, 2024 7
insert_link Business / Economics Recent Financial Developments: Namibia’s MetMast Inauguration, Zimbabwe’s Currency Plans, Wall Street Rally, and Crude Oil Surge Namibia's Hyphen Meteorological Mast Inaugurated: President Nangolo Mbumba has officially inaugurated the Hyphen Meteorological Mast and its associated sensor equipment in Tsau //khaeb National Park, near Lüderitz, in the //Kharas region. Standing at 120 meters tall, the MetMasts are equipped with advanced instruments to measure various parameters such as wind, temperature, humidity, and solar irradiation. Zimbabwe Plans to Introduce New Currency: Zimbabwe's central bank announced plans on Friday to replace […] todayApril 8, 2024 14
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
