insert_link Business / Economics World oil demand grows amid Red Sea shipping disruptions: IEA Global oil demand is forecast to grow more than expected due to a brighter US economic outlook and rising fuel needs of ships rerouted away from the Red Sea, the International Energy Agency said Thursday. Commercial ships have been taking longer and costlier journeys around the southern tip of Africa to avoid attacks by Yemen's Huthi rebels in the Red Sea, a vital international trade route. The […] today14 March, 2024
insert_link Local Capricorn Group co-hosts national pre-budget public discussion The Capricorn Group, in collaboration with the Economic Association of Namibia, GIZ and the High Economic Intelligence (HEI) on 20 February 2024, hosted a lively national pre-budget public discussion ahead of Finance Minister Ipumbu Shiimi's tabling of the national budget in the National Assembly on 28 February 2024. Held under the theme: The National Budget in an Election Year: Fiscal Expansion and Strategic Priorities, the event received an overwhelming […] today21 February, 2024
insert_link Business / Economics What does an unchanged Repo rate mean to a GIPF member? By Amos Kambonde, Manager: Marketing services at the Government Institutions Pension Fund. Recently, consumers received positive news with the announcement of an unchanged repo rate alongside an unchanged in fuel prices across Namibia. While these developments may seem distant from the average person's daily concerns, they hold significant implications, particularly for members of the Government Institutions Pension Fund (GIPF). Let's delve into what these announcements mean for […] today20 February, 2024
insert_link Namibia President Mbumba officially opens first Cabinet meeting of 2024 President Nangolo Mbumba has inaugurated the first Cabinet of 2024 at State House, pointing out the country's economic recovery in different sectors. Mbumba attributed the industry success to the Harambee Prosperity Plan initiated by late President Hage Geingob. President Mbumba also revealed that Namibia's economic growth exceeded pre-pandemic levels, reaching 7.2% in the third quarter of 2023. The Bank of Namibia's Economic Outlook projects a GDP growth of 3.4% for […] today13 February, 2024
insert_link Business / Economics Local analyst examines economic outlook amid rate cut predictions South Africa's Standard Bank chief economist Goolam Ballim expects four 25 basis point cuts in 2024 starting in the second quarter, and taking the repo rate to 7.25% by year-end. He forecasts economic growth to rebound moderately in 2024 to 1.2%. We asked local Research Analyst at IJG Research, Angelique Bock if she agrees with him. today13 February, 2024
insert_link Business / Economics 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 […] today13 February, 2024
insert_link Business / Economics Building Workers Pension Fund optimistic on construction sector prospects The Namibia Building Workers Pension Fund is optimistic about the year ahead. The principal officer of the NBWPF, Enwich Kazondu, says several projects in the pipeline will impact the construction sector positively. Although, not all will materialise at once, at least the prospects of what lies ahead, create optimism, which is always important from a macroeconomic perspective. Here is Enwich Kazondu. today22 January, 2024
insert_link Business / Economics Salomo Hei of High Economic Intelligence tackles Davos talks, and their impact on Namibia The World Economic Forum's Annual Meeting takes place in Davos from today until 19 January 2024. Key sessions and reports at Davos will look at how climate change affects health, how to close the women's health gap, and how digital tools can transform healthcare. We asked the Managing Director of High Economic Intelligence, Salomo Hei whether talks in Davos would affect middle-income countries like Namibia. today15 January, 2024
insert_link Business / Economics The Year of Expectations: Converting uncertainty into opportunity By Josef Kefas Sheehama This time of year is always a welcome opportunity to reflect on what is most important. His Excellency Dr Hage G. Geingob, the President of the Republic of Namibia has declared 2024 as “The Year of Expectations”. As Namibia approaches the general elections in 2024, there is immense pressure on political leaders to tackle these economic challenges and implement policies that will deliver an inclusive […] today11 January, 2024
