insert_link Business / Economics The Bank of Namibia reduces the repo rate Consumers can expect some relief as the Bank of Namibia has lowered the repo rate by 25 basis points, bringing it down to 7%. This marks the central bank’s final rate decision for the year. Here is BoN Governor Johannes !Gawaxab speaking at today’s monetary policy announcement. Cirrus Capital economist, Robert McGregor reacts to the development. today4 December, 2024
insert_link Business / Economics Inflation ticks up in Eurozone Inflation ticked up to 2.3 percent in November across the Eurozone according to the Eurostat statistics agency. This puts prices above the European Central Bank's two percent target but the increase was expected. William Denselow reports from Brussels. today2 December, 2024
insert_link Business / Economics 2024 Producer Price Index Update Reveals Mixed Sectoral Trends The Producer Price Index has been rebased to 2022, offering more accurate insights into the nation's economic trends. The new reference period, set for June , highlights a shift in price movements across sectors, with mining showing growth year-on-year, but a slight quarterly contraction. Meanwhile, manufacturing saw modest price reductions overall, though dairy and fish processing experienced notable increases. The updated PPI will provide businesses and policymakers with a clearer […] today22 November, 2024
insert_link Business / Economics Production sector experiences slight price decrease The Namibia Statistics Agency has released the Producer Price Index for the third quarter of 2024, showing a slight decrease in production prices both quarter on quarter and year on year. This suggests a small contraction in the overall production sector. NSA spokesperson Mirjam Shihepo has the details. today21 November, 2024
insert_link South Africa In S.A The GOOD Party Welcomes Inflation Drop, Highlights Need for Long-Term Economic Solutions In S.A, the GOOD Party welcomes the cooling of inflation, saying this brings some relief to all South Africans. Consumer inflation dropped to 2.8-percent in October, the lowest level since June 2020. This marks a significant decrease from the 3.8-percent in September, driven primarily by a sharp month-on-month decline in fuel prices. GOOD’s secretary-general, Brett Herron, says citizens urgently need an economy that will create long-term jobs, and […] today21 November, 2024
insert_link Business / Economics Potential Global and Namibian Economic Impacts of a Trump 2.0 Presidency Theo Klein, an economist from Oxford Economics Africa in South Africa, warns that a second Trump presidency may negatively affect global markets, leading to higher inflation, interest rates, a stronger US dollar, and suppressed oil prices. For Namibia, the potential impacts include a slower interest rate cutting cycle and rising inflation as discussed by Klein alongside factors that could affect Namibia's economy. today21 November, 2024
insert_link Business / Economics S.A Union Urges Reserve Bank for Bigger Repo Rate Cut South African Union federation Cosatu urges the South African Reserve Bank to implement a larger-than-expected repo rate cut to help ease the financial strain on workers. Following the decrease in inflation to 2.8-percent in October, the federation believes a more significant rate reduction, beyond the anticipated 25 basis points, is needed to alleviate the burden on over-indebted households. Cosatu’s Zanele Sabela says high interest rates have forced workers to […] today21 November, 2024
insert_link Africa Nigeria’s Food Crisis Expected to Worsen Amid Economic Hardship Nigeria is projected to see a severe hunger crisis next year, with over 30 million people facing food insecurity—a 33% increase from this year—due to economic challenges, according to a government and UN report as seen by CNBCAfrica. Economic hardship has intensified following austerity reforms by President Bola Tinubu, including currency devaluation and the removal of a longstanding petrol subsidy, contributing to rising inflation and a cost-of-living crisis. today4 November, 2024
insert_link Africa Zimbabwe adopts ZiG currency as sole legal tender Zimbabwe’s ruling party has passed a resolution to adopt the bullion-backed ZiG currency as the country’s sole legal tender and phase out the use of US dollars. Bloomberg reports that under the country’s current laws, the US currency will remain legal tender until 2030. President Emmerson Mnangagwa has previously suggested this timeline may be brought forward. today29 October, 2024
