Namibia Economy

07 March Biz News: Markets, Earnings, Oil Deals & Trade Policy Shifts

Local Stock Market Update As of yesterday, the local stock market's free float market capitalization stands at N$16.71 billion, with 638,974 shares traded, amounting to N$16.41 million in value across 11 deals. For the month to date, 1,364,598 shares have been traded, totaling N$47.09 million, with 31 deals recorded. FirstRand Ltd Sees 10% Earnings Growth According to CNBC Africa, South Africa’s FirstRand Ltd reported a 10% rise in first-half […]

7 March, 2025 15

Business / Economics

Private Sector Credit Hits 2-Year High Amid Business Confidence

Local Private Sector Credit Extension surged to 4.1% in January this year, its fastest pace since early 2023. The growth is driven by stronger corporate lending, signaling renewed confidence, while household credit demand remains subdued. Almandro Jansen is an economist at Simonis Storm:

5 March, 2025 40

Business / Economics

Trustco Bank Completes Voluntary Shutdown

Trustco Bank has officially ceased operations, finalizing its voluntary closure process that began on 23 August 2024. Following extensive efforts to reimburse depositors, any unclaimed funds have been transferred to the Guardian Fund under the Master of the High Court, as directed by the Bank of Namibia. Trustco’s Deputy CEO, Quinton Van Rooyen Junior, confirmed the completion of the process.

4 March, 2025 33

Business / Economics

Morning Biz News 26 February 2025: NamRA Revenue Surges, BP Shifts Strategy, and AfDB Backs SMMEs

NamRA Collects N$79.3 Billion in Revenue The Namibia Revenue Agency (NamRA) has collected N$79.3 billion in revenue as of 31 January 2025. According to NamRA’s latest figures, domestic tax collections amounted to N$31.36 billion, while customs and excise duties contributed N$48 billion. The total revenue estimate for the 2024/2025 financial year is projected at N$85.3 billion. South Africa’s Poultry Master Plan Exceeds Targets In South Africa, the first phase of […]

26 February, 2025 16

Business / Economics

January Vehicle Sales Up Year-on-Year but Drop Monthly

Records indicate 966 new vehicle sales in January, a 1.7% increase from January 2024 but a 12.2% decline from December 2024. Economist Almandro Jansen attributes the drop to seasonal trends and post-holiday financial constraints.

25 February, 2025 44

Business / Economics

Morning Biz News 25 February 2025: Market Trends, Global Investments, and Banking Updates

Local Market Performance The Namibian stock market recorded a total of 1.57 million shares traded on Monday, amounting to a total value of N$41.77 million across 27 deals. According to the NSX report, the year-to-date traded volume has reached 9.67 million shares, with a cumulative value of N$579.69 million. The financial sector led the day's trading with transactions worth N$34.28 million, followed by the consumer staples sector, which saw activity […]

25 February, 2025 13

Business / Economics

NIDA Reports N$3 Billion in Assets in First-Ever Annual Report

The Industrial Development Agency released its first annual report since its establishment in 2018, revealing asset management worth N$3 billion. NIDA Board Chairperson Sebulon Kankondi shared the figures, while Finance Minister Iipumbu Shiimi urged the agency to adopt a high-performance culture. NIDA CEO Richwell Lukonga :

25 February, 2025 105

Business / Economics

Morning Biz News – 17 February 2025

SACU Revenue Decline Expected in 2025 The Bank of Namibia has projected a decline in revenue from the Southern African Customs Union (SACU), dropping from N$28 billion in 2024 to N$21 billion in 2025. According to The Brief, Simonis Storm's Head of Investments, Max Rix, attributes this decrease to global economic conditions and adjustments in SACU’s revenue-sharing formula. This reduction is expected to impact Namibia’s fiscal plans, with potential budgetary […]

17 February, 2025 22

Business / Economics

Weekly Economics Wrap 6-13 February 2025: Key Developments in Global and Regional Markets

Namibia: Interest Rate Cut and Oil & Gas Capacity Building The Bank of Namibia has lowered its key interest rate for the fourth consecutive monetary policy meeting, aiming to support economic growth amid stable inflation projections. On Wednesday, the central bank cut the repo rate by 25 basis points to 6.75%, following similar reductions in its last three policy decisions. The move is expected to provide relief to borrowers while […]

13 February, 2025 23