6 November 2024 Morning Biz News: Strengthening Trade Relations: Key Developments from Namibia, South Africa, Kenya, and China

6 November 2024 Morning Biz News: Strengthening Trade Relations: Key Developments from Namibia, South Africa, Kenya, and China

This week, the global economic landscape has seen notable developments, with high-level talks aimed at boosting trade relations, promising improvements in economic indicators, and significant policy shifts in key international markets. Below are some of the latest highlights that matter for businesses and investors: 1. Strengthening Namibia-EU Trade Relations In Windhoek this week, a high-level conference will take place with a focus on deepening trade relations between […]

November 6, 2024 7

Business / Economics

September Sees Global Interest Rate Cuts to Stimulate Economic Growth

September was a significant month in the global financial landscape, with major economies such as the United States, European Union, China, South Africa, and Namibia implementing interest rate reductions. These cuts came after a prolonged period of low economic growth and were largely anticipated by markets as a strategy to stimulate economic activity and lower borrowing costs. Almandro Jansen: Simonis Storm Economist.

October 24, 2024 17

Africa

World Bank cuts Africa growth forecast

The World Bank has downgraded its economic growth forecast for sub-Saharan Africa. Bloomberg reports that Sub-Saharan Africa will likely grow 3% this year, somewhat lower than an April forecast of 3.4%, the Washington-based lender said in its Africa Pulse report published Monday. The slower growth rate was largely blamed on the conflict in Sudan which started 18 months ago and has continued to escalate.

October 15, 2024 13

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.

July 17, 2024 34

South Africa

South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

By Danny Bradlow, University of Pretoria South Africa will play an important international role in 2025 as president of the G20. The G20 is a group of 19 countries as well as the African Union and the European Union. Between them they represent 85% of global economy, 75% of world trade and 67% of global population. The G20 defines itself as the premier multilateral forum […]

May 15, 2024 22

Business / Economics

American energy companies pass on Iraqi oil

American energy majors are once again shunning the chance to extract Iraqi oil, leaving the door wide open for Chinese companies to invest instead.

May 13, 2024 41

Business / Economics

Japan and the United Kingdom enter recession

Two of the world's leading economies - Japan and the United Kingdom - recently entered into recession, highlighting the financial struggles that countries have been facing after the COVID-19 pandemic. We asked Salomei Hei the Managing Director at High Economic Intelligence for his take on global economic development.

February 19, 2024 16

World

Guterres calls for a ‘global order that works for everyone’

UN Secretary-General António Guterres addressed the Münich security conference on Friday where he called for a global order that works for everyone. Guterres also warned against an all-out offensive on the city of Rafah which is at the core of the entire humanitarian operation in Gaza. Moving on to Ukraine, he said two years into the war, the cost of human lives and suffering is appalling while the impact […]

February 19, 2024 36

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 39