Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 43

Business / Economics

South Africa’s $26.3 million new mining fund sets stage for exploration boom

By Bonface Orucho, via bird story agency South Africa is charting a new course for its mining industry, betting on local and junior miners to identify and unlock greenfield mines as the country pursues higher sector prosperity. The country has introduced a new US$26.3 million (R500 million) mining exploration fund for local and junior miners, aiming to tap into the rising global demand for minerals. South Africa’s […]

February 8, 2024 32

Africa

Somaliland-Ethiopia port deal: international opposition flags complex Red Sea politics

By Jutta Bakonyi, Durham University The memorandum of understanding between Ethiopia and Somaliland announced on 1 January 2024 set off diplomatic rows in the Horn of Africa – and beyond. Details of the agreement are not publicly known, but both state leaders have touched on its content. Among the main elements: Ethiopia gets a 50-year lease on a strip of land on Somaliland’s Red Sea coast for naval […]

February 8, 2024 23

Africa

‘Made in Africa’ gets a boost as cross-border trade gathers pace

By Conrad Onyango, via bird story agency African leaders are beginning a push for increased consumer consciousness of ‘Made in Africa’ products as cross-border trade opens new opportunities for economic growth. Inaugurating South Africa’s first trade shipments under the African Continental Free Trade Area (AfCFTA), President Cyril Ramaphosa urged over 12 African trade ministers attending the 13th AfCFTA Council of Ministers meeting in Durban, to bolden their push […]

February 6, 2024 16

Africa

2024 U.S.-Africa Business Summit: Partnering for sustainable success; celebrating MCC’s 20 years of poverty-reducing development

The Corporate Council on Africa (CCA) is proud to announce that the 2024 U.S.-Africa Business Summit will take place in Dallas, Texas May 6-9, 2024, with the theme "U.S.-Africa Business: Partnering for Sustainable Success." CCA’s signature event, the U.S.-Africa Business Summit, is the premier platform focused on U.S.-Africa trade, investment, and commercial engagement that annually brings together African Heads of Government, Senior U.S. and African Government Officials, and […]

February 6, 2024 29

Africa

Somalia’s rekindled aviation industry

By Conrad Onyango, via bird story agency The recent opening of Somalia’s first plane maintenance, repair and overhaul (MRO) facility is the latest indicator of the country’s efforts to revive a civil aviation industry that collapsed more than 30 years ago. Christened the Blue Hangar, the facility in Mogadishu is a key step towards an independent industry, according to local officials, as it offers local flight maintenance capabilities. […]

February 6, 2024 39

Local

Bank of Namibia warns against fraudulent investment scams.

The Bank of Namibia (the Bank) has noted with concern an escalation in the number of fraudulent investment scam activities, targeting and using references to the Government, its Ministries, Offices, and Agencies. The Bank has identified fraudulent investment scam activities, offering unsolicited financial assistance to fund Namibia’s developmental initiatives, with perpetrators applying particular focus on senior public figures, high-ranking government officials, politicians, and civil servants, to promote the fraudulent […]

February 2, 2024 24

Business / Economics

Innovating for Impact: driving positive change through financial solutions

By Mignon du Preez, Group Marketing, Public Affairs and Sustainability Executive, Old Mutual Namibia In Namibia, making a real impact with financial solutions is a shared endeavour that requires collective action, innovative thinking, and a deep understanding of our people's needs. As a united force within the financial services industry, we bear a collective responsibility to lead the way toward a better future for everyone. At the forefront […]

February 1, 2024 4

Business / Economics

Economist weighs in on Bank of Namibia’s policy alignment

Following calls for increased inclusivity in the Monetary Policy Committee of the South African Reserve Bank, we reached out to Cirrus Capital Economist, Robert McGregor for his take.

February 1, 2024 35