Namibia Tourism and Hospitality Industry Make Significant Strides

Namibia Tourism and Hospitality Industry Make Significant Strides

By Josef Kefas Sheehama The tourism industry contributes about 10 percent to the global GDP. In Namibia, the contribution of tourism and hospitality to GDP was N$7, 7 billion or 3, 7% of nominal gross domestic product (GDP) and an indirect contribution of N$24, 8 billion, or 12, 0% of nominal GDP. Considering the tourist demographic, Europeans accounted for 64% in September, with Namibians at 18% and South Africans at […]

November 14, 2023 14

Africa

Africa’s GDPs Exit the Pandemic Era Second to None

By Matthew A. Winkler via BizNews For all of Covid-19’s disruptions, one trend during the global pandemic presses on unabated. And that would be five of the world’s 10 fastest-growing economies continue to be based in Africa and at least several more on the continent over the next two years are poised to outperform the world. The coronavirus, if anything, accelerated the transition among Africa’s 54 countries to wireless, remotely engaged commerce […]

November 1, 2023 5

Opinion Pieces

Mid-Term Budget Review: Never too late to reform

By Josef Kefas Sheehama Namibian Finance Minister, Mr Iipumbu Shiimi, delivered his 2023/2024 Mid-Term Budget speech on 31 October 2023, taking note of the achievements, challenges, and performances of State-Owned Enterprise (SOE). The Mid-Term Budget Review plays a critical role in the entire budgetary process because it sets the tone for the fiscal framework for the next main budget. The budget is the most important economic instrument of government, as […]

November 1, 2023 5

Opinion Pieces

South Africa economy to slow down in 2023 before stabilizing in 2024, says GlobalData

The South African economy is grappling with several challenges, including severe power disruptions, unstable commodity prices, a high unemployment rate, and external issues. Against this backdrop, South Africa's economic growth is projected to decelerate from 1.9% in 2022 to 0.4% in 2023, before picking up to 1.3% in 2024, forecasts GlobalData, a leading data and analytics company. GlobalData’s recently published report, “Macroeconomic Outlook Report: South Africa,” underscores the ongoing concern of […]

October 30, 2023 34

Opinion Pieces

Namibia to End Raw Materials Export: Driver Economic Growth and Job Creation

By Josef Sheehama His Excellency Dr. Hage G. Geingob, President of the Republic of Namibia, has declared that the era of exporting raw materials from Namibia is over. This statement was made by the President during his address at the EU-Namibia Business Forum in Brussels, Belgium. The Article 100 of Namibia's Constitution stated that” Land, water, and natural resources below and above the surface of the land and in the […]

October 25, 2023 6