Inflation

UK election called for 4 July – what happens next?

Situation vacant? Nikonpete/Shutterstock By Christopher Kirkland, York St John University On a rainy afternoon in London, an increasingly damp Rishi Sunak confirmed what many had been speculating for most of the day in a speech outside 10 Downing Street – that the UK is heading for an election earlier than anticipated. Here’s what to expect in the weeks ahead. When is the UK having an election? Election […]

May 24, 2024 16

Business / Economics

20 May 2024 Morning Biz News: Business News Roundup: Poultry Imports Resumed, Inflation Stability, and Global Market Trends

In the dynamic world of business, staying abreast of the latest developments is essential for informed decision-making. Here’s a roundup of recent noteworthy events shaping the business landscape: Poultry Imports Ban Lifted in Namibia The Directorate of Veterinary Services, under Namibia's Ministry of Agriculture, Water, and Land Reform, has announced the lifting of the ban on poultry meat imports from South Africa. This decision comes with specific conditions to […]

May 20, 2024 9

World

U.S inflation eased in April, according to new CPI figures

U.S inflation eased slightly last month, according to new data released Wednesday. The consumer price index, which measures changes in price for a basket of goods and services, increased 0.3% in April - less than estimates. Sally Patterson has more for us from New York.

May 16, 2024 16

Business / Economics

9-16 May Weekly Economic Wrap: Diverse Trends Unfold Across Africa and Beyond

In the dynamic landscape of African and international economies, the past week has witnessed a plethora of developments, from notable milestones to significant shifts in key sectors. Here's a comprehensive roundup of the latest economic highlights: Namibia: Private Sector Credit Declines, Port Authority Achieves Milestone Official data from Namibia reveals a substantial decline of 65.7% in private sector credit disbursements over the past year, totaling N$1.44 billion compared to […]

May 16, 2024 18

Africa

Nigeria’s minimum wage has never protected workers from poverty: here’s why

By Stephen Onyeiwu, Allegheny College Wages have become the top issue for Nigeria’s organised labour movements in the past year. Reacting to recent increases in the cost of living, the labour movement has been calling for an upward review of the national minimum wage, currently N30,000 (US$24) a month. The Conversation’s Adejuwon Soyinka asks economics professor Stephen Onyeiwu if Nigeria’s minimum wage truly protects workers from poverty. […]

May 6, 2024 25

Business / Economics

24 April Morning Biz News: Namibia’s Exchange Control Policies Pose Challenges to Oil and Gas Sector Expansion

The Brief reports that Higino Mutemba, Head of Oilfield Services at RMB, has raised concerns about Namibia's stringent exchange control policies potentially hindering the country's ambitious plans for its burgeoning oil and gas sector. Despite Namibia's efforts to regulate foreign currency flows, Mutemba warns that these policies could deter international investors, drawing attention to the difficulties encountered in repatriating funds from other African nations. Namibia has been actively seeking to […]

April 24, 2024 35

Namibia

Unchanged repo rate still a challenge for many civil servants’ cost of living

The government has disclosed that the wage bill for the upcoming financial year amounts to N$35.4 billion, encompassing benefits and a 5% raise for civil servants, as outlined in its 2024/25 budget. The allocation is intended to cover the salaries of 107,000 civil servants. Dr. Basilius Kasera, a Professor in Human Sciences at UNAm, provides insights on the matter.

April 19, 2024 62

Business / Economics

Bank of Namibia holds repo rate at 7.75%

The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, with the prime lending rate holding steady at 11.50 percent. This is the second monetary policy announcement by BoN this year. Governor of the Bank Johannes !Gawaxab. Governor !Gawaxab highlighted that risks to the domestic economic outlook have remained broadly unchanged since the previous MPC meeting, although the conflict in […]

April 17, 2024 30

Africa

Kenya’s shilling is gaining value, but don’t expect it to last – expert

By Odongo Kodongo, University of the Witwatersrand Shortly after Kenya’s 2022 elections, the shilling depreciated rapidly against the US dollar – the country’s main currency for international transactions – fuelling a wave of political discontent. More than a year later, the Central Bank of Kenya, taking its cue from the International Monetary Fund, said that the run on the shilling was a market correction for a […]

April 17, 2024 10