Economic Stability

SA to Host G20 Finance Track Meetings in Cape Town

To South Africa, where the National Treasury and the South African Reserve Bank will host the G20 Finance Track meetings in Cape Town from today until Thursday, which will include Finance ministers, Central Bank Governors, and their deputies. The G20 Finance Track focuses on fostering global economic stability, enhancing international financial cooperation, and addressing pressing global challenges. SA Reserve Bank Governor, Lesetja Kganyago, says the Finance Track deals with strategic […]

24 February, 2025 65

Business / Economics

Morning Biz News – 20 February 2025

Toyota Leads Vehicle Market in January Toyota has maintained its dominance in Namibia’s vehicle market, recording 555 new vehicle sales in January 2025. According to Simonis Storm Junior Economist Almandro Jansen, Toyota accounted for a significant portion of total sales, with 306 light commercial vehicles, 242 passenger vehicles—including popular models like the Corolla Cross and Fortuner—and several medium commercial units. The brand’s strong performance reinforces its leadership in both passenger […]

20 February, 2025 46

South Africa

South Africa’s says it cannot yet determine its stance on a common BRICS currency

South Africa's Deputy president Paul Mashatile says his country cannot yet determine its stance on a common BRICS currency. Highlighting the country’s reliance on the US dollar, Mashatile emphasised the need for caution in trade decisions. He noted that while discussions continue, South Africa must prioritise its economic stability before committing to such significant shifts:

22 January, 2025 50

Namibia

NEF concerned over National Minimum Wage rollout

Minister of Labour, Industrial Relations, and Employment Creation Utoni Nujoma The Namibia Employers’ Federation (NEF) has expressed its views following the Ministry of Labour, Industrial Relations, and Employment Creation's decision to decline a request to phase in and defer the National Minimum Wage beyond 1 January 2025. The Ministry maintained that employers had enough time to prepare and criticised the NEF's proposal as unilateral. However, the NEF has said […]

20 January, 2025 51

Namibia

Irrigation Water Supply from Hardap Dam Resumes

NamWater, in collaboration with the Agriculture, Water, and Land Reform ministry, has announced that irrigation water supply from the Hardap Dam will resume on 20 January 2025. The decision, approved by Minister Calle Schlettwein, aims to boost agricultural productivity and regional economic stability last year. Lot Ndamanomhata is NamWater's spokesperson.

16 January, 2025 34

Business / Economics

Moody’s affirms South Africa’s Ba2 rating with a stable outlook

Moody's has affirmed South Africa's long-term debt ratings at "Ba2" with a stable outlook. The agency cited the country's strong institutions, like the judiciary and central bank, as credit strengths. However, persistent inequalities continue to hinder reforms and pose social risks, according to Moody's.

4 December, 2024 27

Business / Economics

Cirrus Capital’s Groenewald Offers Insight on Central Bank’s Interest Rate Decision

The Bank of Namibia In October lowered its main interest rate, citing a faster-than-anticipated decline in inflation and the need for economic support. At that point in time, the Monetary Policy Committee unanimously agreed to reduce the repo rate by 25 basis points, bringing it to 7.25%. Cirrus Capital economist Tannan Groenewald shares his outlook on what the Bank might do next. ENG Tannan Groenewald repo

4 December, 2024 38

Africa

Zambia calls for regional action to address energy shortage

Speaking at the 30th session of the Intergovernmental Committee of Senior Officials and Experts for Southern Africa, held in Livingston, Zambia this week, the country’s Energy Secretary, Peter Mumba, called for urgent action to resolve the energy deficit facing the region. With nearly half of Southern Africa’s population lacking access to electricity, Mumba stressed the importance of regional collaboration to tackle the energy crisis and climate change, while addressing the […]

21 November, 2024 49

Local

Bank Windhoek’s Agri Series Focuses on Drought Impact on Namibia

Bank Windhoek’s Executive Officer for Marketing and Corporate Communication Services, Jacquiline Pack, emphasized that the agriculture sector has always been a cornerstone of Namibia’s economy and society, contributing around 6% to the Gross Domestic Product (GDP) and creating significant employment opportunities. She made this statement on Tuesday, 5 November 2024, while announcing that the fifth Agricultural Series will take place on Wednesday, 13 November 2024, in Windhoek, live on […]

6 November, 2024 17