GDP Growth

Namibia’s economy expands as President Nandi-Ndaitwah’s Cabinet and policy plan take shape

Namibia’s economy is on track for continued growth in 2025, according to the latest Quarterly Economic Review from the Institute for Public Policy Research (IPPR). The report, released this month and authored by veteran economist Robin Sherbourne, forecasts a 3.8 percent rise in gross domestic product (GDP), driven by easing inflation, robust foreign reserves, and a cut in the central bank’s repo rate to 6.75 percent—its lowest level in over […]

6 May, 2025 28

South Africa

DA Warns of Economic Risks as S.A. GDP Growth Slows

In S.A, the DA says the weak 0.6-percent gross domestic product growth rate in the fourth quarter of 2024 is a warning sign that unless urgent action is taken, the country will continue to slide deeper into economic decline. Statistics South Africa attributed the growth to, among others, an increase of 17.2-percent in the agriculture, forestry, and fishing industries. The DA’s, Mark Burke, says the economy is clearly in crisis, […]

5 March, 2025 66

Business / Economics

05 February: Morning Business News Update

Here are the key financial developments making waves in the markets: Namibia Repo Rate Prediction: A local economic analyst predicts a decrease of 75 basis points in Namibia's repo rate during the 2025 financial period. Max Rix, a senior analyst at Simonis Storm Securities, shared his outlook with NewsOnOne, forecasting a 3.8% GDP growth for the same period. The forecasted rate cut reflects expectations of a more accommodative monetary […]

5 February, 2025 17

Business / Economics

Economist Urges Reforms as South Africa’s GDP Shrinks by 0.3%

In S.A, North-West University Business School economist, Raymond Parsons, has called for urgent economic reforms following the disappointing gross domestic product growth figures for the third quarter, when it decreased by 0.3-percent. Parsons calls for more investment and faster reforms from both the public and private sectors to drive job-rich growth and improve the economy:

4 December, 2024 37

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 40

Business / Economics

Bank of Namibia Confirms Financial Stability

The Bank of Namibia's Financial System Stability Committee has confirmed that the domestic financial system is stable and resilient despite potential vulnerabilities. Following an assessment on October 3, the committee noted a projected decline in global GDP growth to 3.2% in 2024 due to tighter monetary conditions and inflation. Nevertheless, Namibia's financial system has shown resilience, and the Bank is confident in its ability to manage future risks. Sandra Garises, […]

9 October, 2024 46

Business / Economics

Namibia’s GDP hits N$59.5 billion in Q2

The Namibian economy grew by 3.5% year-on-year in Q2 2024, down from 4.3% in Q1 and slightly below the 3.6% growth in Q2 2023. This marks 13 consecutive quarters of growth since a contraction in Q1 2021. Nominal GDP reached N$59.5 billion, with real GDP at N$39.1 billion for the quarter. Simonis Storm Economist, Halleluya Ndimulunde has more.

24 September, 2024 55

Local

The Namibian economy is expected to grow by 3.1 percent in 2024

The Bank of Namibia released the Economic Outlook for August 2024 with the domestic economy estimated to expand by 3.1 percent in 2024 and by 3.9 percent in 2025. Global and Regional Outlook Global economic growth is projected to remain low in 2024 before improving slightly in 2025. Global growth is projected to slow down to 3.2 percent in 2024, from 3.3 percent in 2023, before rising moderately to […]

8 August, 2024 30

Business / Economics

IMF projects Namibia’s GDP growth to slow to 3.6% in 2024

The International Monetary Fund forecasts that real GDP growth in Namibia will slow to 3.6% in 2024, owing to global macroeconomic headwinds and tight monetary conditions. The fund released its World Economic Outlook Update on 16 July 2024. Similarly, the African Development Bank forecasts a decline in GDP to 3.3% for both 2024 and 2025, driven by weak global demand and a contraction in agriculture.

17 July, 2024 58