economic update

Fuel Prices Review Complete for January

The Ministry of Industries, Mines and Energy’s Anna Salkeus announced that the review of fuel prices for January next year has been finalised. She said international oil prices fell in November 2025 due to oversupply, weak demand growth, a softer US dollar, increased US shale production, and the easing of OPEC+ output cuts.

22 December, 2025

Business / Economics

Q3 Economic Growth Slows to 1.9%

Economic growth for the third quarter slowed to 1.9 percent from 2.1 percent last year, driven by the services sector—including financial services, trade, education, and health—and supported by strong electricity and water output, as per the Statistics Agency. Agriculture and mining fell, investment declined, but household and government spending increased, while faster export growth narrowed the trade deficit, the NSA’s Mirjam Shihepo:

19 December, 2025

Business / Economics

Repo Rate Held at 6.50% to Support Stability

The Bank of Namibia has kept the Repo rate unchanged at 6.50% following its final MPC meeting of the year earlier this week. The committee said the decision helps maintain the Namibia Dollar–Rand peg while supporting the domestic economy. Moderate economic growth, contained inflation, slower credit extension, a narrower trade deficit, and sufficient international reserves all shaped the decision.

4 December, 2025

Business / Economics

Shafudah Announces Spending Adjustments in Mid-Term Budget Review

Finance Minister Ericah Shafudah tabled the Mid-Term Budget Review before Parliament, providing an update on the local economic progress and key fiscal adjustments. The proposed changes to the 2025 Appropriation Act aim to realign government spending and ensure adequate funding for national priorities through the rest of the 2025/26 financial year. Simonis Storm economist Almandro Jansen:

22 October, 2025

Business / Economics

Inflation Rises to 3.5% in September

The annual inflation rate increased to 3.5% in September from 3.2% in August, mainly driven by higher transport and housing costs. Simonis Storm economist Almandro Jansen noted that transport inflation rebounded to 1.3% after months of decline, largely due to rising vehicle prices, while food prices grew at a slower pace.

14 October, 2025

Business / Economics

Local Vehicle Sales Dip in August.

Domestic Vehicle sales fell 3.7% in August to 1,261 units but remain 26.7% higher than last year. Dealerships dominate with 93% of year-to-date sales, while rental companies mainly support mid-to-premium brands, says Simonis Storm economist Almandro Jansen.

1 October, 2025

Business / Economics

BoN Set to Announce Rate Decision Today.

The Bank of Namibia is expected to reveal its latest repo rate decision today, with the current rate standing at 6.75%. While South Africa recently lowered its repo rate to 7.25%, narrowing the interest rate gap between the two countries, experts have emphasized the importance of maintaining the dollar peg. Economist Robert McGregor from CIRRIUS Capital shared his outlook on the upcoming decision.

18 June, 2025

Business / Economics

Bank of Namibia Set to Announce New Repo Rate

With the Bank of Namibia’s repo rate decision set for later today, consumers are preparing for potential changes to borrowing costs and savings. The central bank maintained the repo rate at 7.25% during its last monetary policy update. Cirrus Capital economist Robert McGregor noted that while GDP growth is positive, private sector credit extension continues to lag.

4 December, 2024

Business / Economics

Inflation ticks up in Eurozone

Inflation ticked up to 2.3 percent in November across the Eurozone according to the Eurostat statistics agency. This puts prices above the European Central Bank's two percent target but the increase was expected. William Denselow reports from Brussels.

2 December, 2024