Economic Stability

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

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

Business / Economics

ActionSA criticizes 2024 mid-term budget promises

ActionSA says the 2024 mid-term budget fails to meet the government of National Unity’s promises. Party representative Alan Beesley welcomed increased SARS funding but criticised the 1.1-percent economic growth projection, saying it falls short of the needed three-percent. Beesley argues that government neglects economic stability, keeping a bloated cabinet while essential services like policing, healthcare, and education suffer. He labels the budget’s priorities as misplaced, calling for urgent focus on […]

31 October, 2024

Africa

Nigeria’s Dangote Oil Refinery Holds 500 Million Litres of Petrol

Nigeria's Dangote oil refinery possesses a reserve of 500 million litres of petrol, according to its billionaire founder, refuting assertions from marketers that they require additional imports to address fuel shortages. CNBCAfrica indicates that, in response to the situation, Nigeria's President, Bola Tinubu, convened a meeting on Tuesday in Abuja with oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote.

31 October, 2024

Environment

Bank of Namibia launches drought relief policy

The Bank of Namibia has introduced a new policy, effective from 23 October 2024 to October 2026, to address economic and financial challenges from the ongoing drought following the state of emergency declared by President Nangolo Mbumba in May. The central bank’s principal communications team leader, Sandra Garises.

28 October, 2024

Namibia

Cabinet Approves Key Initiatives in Drought Relief, Water Management, and Economic Stability

In a recent cabinet meeting, several key decisions were made to tackle pressing issues in Namibia. The Cabinet approved actions for drought relief, including a budget allocation and the enrollment of over 64,000 households. It emphasized the need to allocate 5% of the national budget for water management to meet Sustainable Development Goal 6. The Total Allowable Catch for rock lobster was set for the upcoming fishing season, and […]

18 October, 2024

Namibia

Growing BRICS could surpass the Economic Size of the G7

Opinion Piece by Josef Kefas Sheehama It is not surprising that the BRICS plus will usher in a new economic order if the group of seven (G7) does not pull up its shocks, as the group's expansion presents new economic opportunities for developing countries. There is no doubt that the establishment of the BRICS represented a major step forward in the long-term process of member countries' integration, both […]

4 September, 2024

Africa

Ethiopia’s bold economic reforms target stability and growth, but they come with risks

By Tsegay Tekleselassie, Wellesley College Ethiopia’s recent macroeconomic reforms, supported by the International Monetary Fund (IMF) and the World Bank, could have profound implications for the country and the region. The key reforms include the use of a floating exchange rate system and of interest rates as a policy tool. They were introduced just ahead of the approval of a financial package that could eventually amount to about […]

19 August, 2024

Africa

Smaller African economies are getting more investor attention

By Conrad Onyango, via bird story agency Small African economies are punching above their weight to emerge as the most attractive to investors, bolstered by their higher economic and personal freedoms. A new study, ‘The 2024 RMB Where to Invest in Africa report,’ shows that investors are looking beyond markets with big populations and larger economies. Instead, they are seeking destinations with higher levels of stability and […]

13 August, 2024