GDP

Partnering for prosperity: Nedbank Namibia’s commitment to strengthening Namibia’s agriculture sector

Namibia's agricultural sector is a cornerstone of its economy, yet it faces a myriad of challenges that threaten its sustainability and growth. Agriculture contributes over 8% to Namibia’s gross domestic product (GDP), with about 70% of the population dependent on it for income and food security. Additionally, agriculture is the largest employer in the country, accounting for over a fifth of the local workforce. Despite its economic significance, the […]

10 June, 2024 9

Local

Small businesses big impact: Boosting SMEs to drive economic growth

In the face of a recovering economy, soaring inflation, and high interest rates, small business owners in Namibia are navigating challenging times. Now more than ever, supporting Small and Medium Enterprises (SMEs) is imperative, given their significant contribution to the Namibian economy. It is estimated that there are over 40 000 SMEs in Namibia, supporting the livelihoods of more than 200 000 people and contributing approximately […]

28 May, 2024 14

Business / Economics

26 April 2024 Morning Biz News: Economic Insights: Tourism Boost, Corporate Deals, Regulatory Clarity, and Currency Trends

By Leonard Witbeen Tourism Sector Vitality: Namibia's tourism sector emerges as a cornerstone of economic vitality, with direct contributions amounting to 6.9% of the GDP, totaling N$14.3 billion. The recently released 2022 Namibia Tourist Satellite Account Report sheds light on the sector's robustness, revealing its employment of 57,277 individuals, constituting 7.9% of the country's total workforce. Corporate Merger Scrutiny: South Africa's government closely examines BHP Group's proposed acquisition of Anglo […]

26 April, 2024 28

World

UK calls for increased Nato spending

Britain's Defence Secretary has said that NATO countries should increase defence spending to match the UK's new commitment. It comes after Prime Minister Rishi Sunak announced the UK's pledge to ramp up defence spending to 2.5% of GDP. Simon Gaitán reports.

24 April, 2024 37

Namibia

Diamond industry growing, despite new industry players

https://youtu.be/F8LsNudVJcY By Josia Shigwedha, via News on One With emerging industries in the energy sector such as oil and gas, the diamond industry’s position as a key contributor towards the growth of the sector and economy could be at stake. But this may not be the case as the Namibia Diamond Trading Company (NDTC) Chief Executive Officer, Brent Eiseb, stated that the intake of the precious gemstones for […]

24 April, 2024 33

Africa

Zambia’s arts and creative sector is thriving

By Bonface Orucho, bird story agency Zambia’s recent unveiling of a National Arts and Revised Film Policy is evidence of the growing interest in increasing investment and fostering the growth of the arts and creative sector. Besides committing to invest close to US$100 million in the arts and film sector between 2024 and 2028, the policy commits to improving artists' welfare in a bid to promote talent by […]

8 April, 2024 28

Business / Economics

Namibia’s economy slows but tertiary sectors improve

Namibia’s domestic economy slowed to record a growth of 4.2% in 2023, relative to a growth of 5.3% recorded in 2022, according to national accounts figures released by the Namibia Statistics Agency on Tuesday. The Primary and Secondary industries registered growth rates of 9.7% and 2%, respectively, compared to growth rates of 13.7% and 3.4% in the previous year. According to NSA data, the tertiary industries posted an increase of […]

27 March, 2024 51

Africa

Ghana’s new vehicle tax aims to tackle pollution – expert unpacks how it’ll work and suggests reforms

By Theophilus Acheampong, University of Aberdeen Ghana has introduced an annual carbon levy on vehicles and industrial emissions. It’s only the third African country to introduce an explicit carbon tax, after South Africa and Mauritius. The tax is intended to address harm associated with vehicle emissions. But it has prompted a pushback from various citizens, civic and consumer groups. The Conversation Africa’s Godfred Akoto Boafo spoke […]

16 February, 2024 42

Africa

AU summit seeks to raise Africa’s voice on global stage

Addis Ababa, Feb 15, 2024 (AFP) - The African Union's annual summit will open on Saturday against the backdrop of coups in Gabon and Niger and a political crisis in Senegal, posing challenges for the bloc as it seeks to amplify its international presence. Set up more than two decades ago, the 55-member bloc has long been criticised for being ineffectual and for taking little decisive action in the […]

15 February, 2024 23