Economic Growth

Mining threatens tourism

Namibia's growing mining activities are raising concerns over the encroachment on national parks. With these parks serving as tourist attractions, the debate over prioritising mining or tourism income has become an urgent sustainability topic. Beyond revenue considerations, the conservation of the country's rich natural resources is at stake. Many of the mined resources are destined for export, while tourism provides direct financial benefits and supports local communities. This has led […]

January 20, 2025 58

Business / Economics

10 January 2025 Morning Biz News Update: Growth in Milk Production, Trade Relations, and Economic Challenges

Milk Production Surges Namibia’s milk production saw a notable increase in the third quarter, reaching 4.2 million litres, which marks a 7.5% year-on-year growth and an 11% rise compared to the previous quarter. According to the Bank of Namibia, the growth is attributed to the rise in the number of milk-producing cows and technological advancements that have improved production efficiency, reinforcing the positive outlook for the local dairy industry. […]

January 10, 2025 11

South Africa

ANC Treasurer General Calls for Increased Effort to Improve South Africans’ Lives

ANC Treasurer General, Gwen Ramokgopa, says the party needs to work even harder now to improve the lives of most South Africans. ANC president Cyril Ramaphosa is set to deliver the January 8 Statement in Cape Town on Saturday as the party celebrates its 113th birthday. Ramokgopa says the ANC has done a great deal over the last three decades, but not everyone has benefited from the party's […]

January 10, 2025 23

Business / Economics

World Bank Unveils Strategy to Boost Namibia’s Growth and Equity

The World Bank has introduced its 2025-2029 strategy to support Namibia's economic growth and address inequality. This comprehensive plan emphasizes job creation and enhanced access to quality public services, aligning with the country’s Vision 2030 and the Second Harambee Prosperity Plan for 2020-2025. The World Bank’s board of directors discussed the framework in a recent meeting, reaffirming its commitment to Namibia’s sustainable development.

January 10, 2025 15

South Africa

In S.A, the ANC is set to unveil a bold vision for the future

In S.A, the ANC is set to unveil a bold vision for the future at its January 8th rally this Saturday at Mandela Park Stadium in Khayelitsha, Western Cape, focusing on economic growth, justice, and equality. ANC secretary-general Fikile Mbalula told the media the party’s vision aims to create a more equitable society, with a clear path forward to advance social justice and rebuilding the economy:

January 7, 2025 41

Business / Economics

Green Hydrogen programme attracts N$3.6 billion in investment

The Namibia Green Hydrogen Programme has taken a significant leap from concept to implementation, securing N$3.6 billion in investments. Of this, N$1.6 billion has already been injected into the economy, signaling promising growth prospects for the nation. Speaking on the progress, spokesperson Jona Musheko highlighted the programme's commitment to local empowerment and skills development. He noted that “High Iron Oshivela has installed 42,000 solar panels, with the work being carried […]

December 17, 2024 30

Business / Economics

S.A’s Ramaphosa Urges Stronger Trade and Investment with Angola

S.A President Cyril Ramaphosa has called for stronger trade and investment ties between South Africa and Angola. Speaking during the state visit of Angolan president João Lourenço, Ramaphosa said both countries must explore new economic opportunities beyond the oil sector, particularly in areas such as infrastructure, agriculture, and renewable energy:

December 13, 2024 34

South Africa

FNB S.A Economist Predicts Moderate Growth for Mining Sector

FNB South Africa economist Thanda Sithole says growth in the mining sector in the near term is expected to remain moderate, due to a subdued external demand environment. Mining production rose 1.4-percent year on year in October, after an upwardly revised 4.9-percent jump in September, marking the third consecutive month of growth in mining activity. Sithole says the modest increase in mining production was broad-based, with growth recorded in seven […]

December 11, 2024 37

Africa

World Bank Cuts Kenya’s Growth Forecast to 4.7%

CNBCAfrica says the World Bank on revised Kenya’s 2024 economic growth projection down to 4.7% from an earlier estimate of 5.0%, attributing the downgrade to the effects of floods, anti-government protests, and sluggish fiscal reforms on Tuesday. Despite progress in stabilizing the exchange rate, increasing central bank reserves, and reducing inflation, Kenya remains at a high risk of debt distress, according to the bank's latest report.

December 11, 2024 13