insert_link Business / Economics Finance Minister revises economic growth to 3.3%, cuts growth forecast Finance and Social Grant Management Minister Erica Shafudah (Photo contributed) Finance Minister Ericah Shafudah has tabled the 2025 Mid-Term Budget Review in Parliament on Tuesday, 21 October, painting a cautious picture of Namibia’s fiscal and economic outlook as growth slows and public debt rises. The review projects economic growth of 3.3% for 2025, a notable downward revision from the 4.5% forecast announced during the main budget in March. The decline […] today21 October, 2025
insert_link South Africa SA to Prioritize Development Financing in G20 Presidency South Africa's National Treasury Director-General, Duncan Pieterse, says South Africa will use its G20 Presidency to address financing for development and tackle barriers to growth in developing countries. The Finance and Central Bank Deputies' meeting is taking place in Cape Town this week. The G20 members represent about 85-percent of the world’s gross domestic product and 75-percent of international trade. Pieterse says South Africa has signalled a strong intent to […] today25 February, 2025
insert_link Business / Economics Global demand and drought impact GDP The Bank of Namibia has released the Economic Outlook update for December 2024. The domestic economy is estimated to expand by 3.5 percent in 2024 and 4.0 percent in 2025. However, GDP growth is expected to slow in 2024 due to weaker global demand for minerals and drought-related impacts. Here is Josefina Oskar from the Bank of Namibia. today2 December, 2024
insert_link Africa Zimbabwe Seeks to Restructure $12.7B Debt Zimbabwe's president met with creditors and finance executives to discuss clearing debt arrears and restructuring $12.7 billion in external debt reports Reuters. The country aims to access international capital markets for the first time in over two decades, despite its debt accounting for 81% of GDP and a history of financial crises. today26 November, 2024
insert_link Business / Economics 25 September Morning Biz News: Global Markets Surge Amid China’s Stimulus, While Namibia’s Economic Growth Slows to 3.5% in Q2 Namibia's Economic Growth: The economy expanded by 3.5% year-on-year in Q2 2024, a slowdown from the 4.3% recorded in Q1 and slightly lower than the 3.6% growth in Q2 2023. This marks 13 consecutive quarters of growth since the Q1 2021 contraction. For Q2, nominal GDP reached N$59.5 billion, with real GDP standing at N$39.1 billion. Safaricom Raises $116.73 Million: Kenya's largest telecom operator, Safaricom, raised $116.73 million through […] today25 September, 2024
insert_link Business / Economics Namibia Statistics Agency records slow economic activity in Q2 The Namibia Statistics Agency has released the official GDP figures for the second quarter of 2024, covering economic activity from April to June. The economy grew slowly, with secondary industries showing only 1.5 percent growth compared to 7.1 percent in the same quarter of 2023. This slow growth was evident in the "Electricity and Water" sector, which grew by 4.1 percent, and the Manufacturing sector, which grew by just 0.6 […] today19 September, 2024
insert_link Business / Economics South Africa’s current-account deficit narrows South Africa’s current account deficit narrowed more than expected in the second quarter as the rand price of exported goods and services increased more than that of the imports gap on the current account. The South African Reserve Bank on Thursday said that the broadest measure of trade in goods and services shrank to 0.9% of GDP, or 64.6 billion rand, down from a revised 1.5% of GDP in the […] today5 September, 2024
insert_link Africa South Africa’s new agricultural leadership should focus on getting things done, not designing new policies By Wandile Sihlobo, Stellenbosch University South Africa’s primary agriculture sector accounts for nearly 3% of GDP and about 8% when considering the value of agro-processing. But it can contribute even more to economic growth that delivers benefits fairly across society and creates jobs. This can’t happen, however, if new policies and plans keep getting introduced. Fortunately, the views of the new agricultural minister, John Steenhuisen, may […] today3 July, 2024
insert_link Africa What’s next after Kenya’s deadly protests? By Rose TROUP BUCHANAN, Simon VALMARY After an unprecedented day of chaos and deadly violence, Kenya finds itself plunged into uncertainty on Wednesday, with lawmakers due to vote this week on deeply unpopular tax hikes that have sparked widespread protests. How did East Africa's economic powerhouse get to this point and what happens now? Tuesday's national strike against proposed tax hikes began peacefully, with […] today26 June, 2024
