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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Economic Growth

104 Results / Page 3 of 12

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Business / Economics

September Sees Global Interest Rate Cuts to Stimulate Economic Growth

September was a significant month in the global financial landscape, with major economies such as the United States, European Union, China, South Africa, and Namibia implementing interest rate reductions. These cuts came after a prolonged period of low economic growth and were largely anticipated by markets as a strategy to stimulate economic activity and lower borrowing costs. Almandro Jansen: Simonis Storm Economist.  

todayOctober 24, 2024 18

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Business / Economics

IMF Adjusts Growth Forecasts, Cautions on Global Risks

The International Monetary Fund has raised its growth forecast for the United States but lowered its outlook for China, citing concerns over conflicts, trade tensions, and high interest rates. In its World Economic Outlook released on Tuesday, the IMF predicts global GDP will remain steady at 3.2% for this year and next. Finance leaders are convening in Washington DC this week for the IMF and World Bank annual meetings. From […]

todayOctober 23, 2024 15

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Namibia

Swapo promises 250,000 jobs for youth

With Namibia facing high unemployment levels and political parties ramping up their campaign efforts to sway voters, the Swapo Party’s presidential candidate, Netumbo Nandi-Ndaitwah, has announced that the party has allocated over N$80 billion to create more than 250,000 jobs for unemployed youth in the country over the next five years.  

todayOctober 22, 2024 46

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Business / Economics

Bank of Namibia reduces repo rate to 7.25%, offering relief to consumers

The Bank of Namibia has announced a 25 basis point reduction in the repo rate, bringing it down to 7.25 percent. This decision follows an extensive review of domestic, regional, and global economic conditions. Speaking at the monetary policy announcement, BoN Governor Johannes !Gawaxab emphasized the need to moderate monetary restrictions due to slowing economic growth and declining inflation. "Domestic economic activity rose during the first eight months of 2024, […]

todayOctober 16, 2024 16

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Africa

World Bank cuts Africa growth forecast

The World Bank has downgraded its economic growth forecast for sub-Saharan Africa. Bloomberg reports that Sub-Saharan Africa will likely grow 3% this year, somewhat lower than an April forecast of 3.4%, the Washington-based lender said in its Africa Pulse report published Monday.  The slower growth rate was largely blamed on the conflict in Sudan which started 18 months ago and has continued to escalate.

todayOctober 15, 2024 14

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Business / Economics

Namibia Statistics Agency records slow economic activity in Q2

The Namibia Statistics Agency has released the official GDP figures for the second quarter of 2024, covering economic activity from April to June. The economy grew slowly, with secondary industries showing only 1.5 percent growth compared to 7.1 percent in the same quarter of 2023. This slow growth was evident in the "Electricity and Water" sector, which grew by 4.1 percent, and the Manufacturing sector, which grew by just 0.6 […]

todaySeptember 19, 2024 32

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Business / Economics

NSA informal cross-border trade study reveals gender disparities

The Namibia Statistics Agency (NSA) has released the findings of a study conducted in November 2023 on informal cross-border trade. According to the report, Namibia exported goods valued at N$9.1 million and imported goods worth N$1.2 million during the period under review. The NSA's Executive for Economic Statistics, Abel Sindano, emphasized the importance of informal cross-border trade in the region. He said that it plays a critical role in sustaining […]

todaySeptember 18, 2024 41

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Local

AU MSME gathering explores finance accessibility

    Namibia is currently hosting the third Annual African Union Micro, Small, and Medium Enterprises (AU MSME) Forum, running from Monday, 9 September 2024, to Friday, 13 September 2024, in Windhoek. This marks the first time the Forum is being held in Namibia and Southern Africa, with the Namibia Investment Promotion and Development Board (NIPDB) spearheading the event, alongside private sector sponsors. Entrepreneurs from all 54 African countries, along […]

todaySeptember 12, 2024 23

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