insert_link Business / Economics Bank Windhoek Warns Against Poor Financial Planning Bank Windhoek's Credit Executive Officer, Eddie King, identifies poor financial planning, unexpected expenses, economic downturns, and over-reliance on credit as major causes of financial default. He stresses the importance of budgeting, emergency funds, and strong financial planning to navigate economic challenges and avoid high-interest debt traps. King urges individuals and businesses to stay informed about economic trends to make better financial decisions. today5 February, 2025
insert_link Business / Economics Corporate Borrowing Drives PSCE Growth Private Sector Credit Extension accelerated to 4.0% year-on-year in December 2024, the highest level since early 2023. The increase was fueled by stronger corporate credit demand, while household borrowing remained stagnant. Simonis Storm economist Almandro Jansen: today5 February, 2025
insert_link Business / Economics Statistics Agency Reports Major Drop in Trade Deficit The Statistics Agency reports that Namibia’s trade deficit declined drastically from N$5.5 billion in December 2024 to N$119 million in January 2025. These figures are outlined in the latest International Merchandise Trade Statistics Bulletin. Our correspondent is One Africa TV NewsOnOne's Ellen Shihepo: Watch NewsOnOne weeknights on One Africa TV on GoTv channel 84, DSTv 284 or stream on oneafrica.tv today5 February, 2025
insert_link Local MINING THREATENS TOURISM CONTRIBUTIONS OF OVER N$ 10.5 MILLION TO COMMUNAL CONSERVANCIES IN 2024 Last week, Ultimate Safaris presented their 2024 conservancy partner impact report for their operations in the Kunene Region to the Ministry of Environment, Forestry & Tourism, partner NGOs, and other stakeholders. The company operates three conservancy joint venture tourism establishments in southern Kunene in partnership with the Uibasen Twyfelfontein, Doro !Nawas, and Sorris Sorris communal conservancies. These establishments include the internationally acclaimed Onduli Ridge, Onduli Enclave, and Camp Doros. […] today20 January, 2025
insert_link Business / Economics 10 January 2025 Morning Biz News Update: Growth in Milk Production, Trade Relations, and Economic Challenges Milk Production Surges Namibia’s milk production saw a notable increase in the third quarter, reaching 4.2 million litres, which marks a 7.5% year-on-year growth and an 11% rise compared to the previous quarter. According to the Bank of Namibia, the growth is attributed to the rise in the number of milk-producing cows and technological advancements that have improved production efficiency, reinforcing the positive outlook for the local dairy industry. […] today10 January, 2025
insert_link Business / Economics Economic Growth Slows As Inflation Declines According To BoN Josefina Oskar from the Bank of Namibia reported that the economy grew by 2.8% in Q3 of this year, slower than the 3.1% in the same period last year. The decline was mainly due to weaker agriculture and mining sectors, while manufacturing and construction saw growth. Inflation eased to 4.1%, with the headline rate dropping to 3.0% in October and November. today18 December, 2024
insert_link Business / Economics Green Hydrogen Program Accelerates Progress Jona Musheko, spokesperson for the Namibia Green Hydrogen Program, hailed 2024 as a landmark year for the sector. He highlighted the transition from concept to implementation, with $3.6 billion in commitments and $1.6 billion already injected into Namibia's economy. In an interview with us, he added this: today17 December, 2024
insert_link Business / Economics Bank of Namibia Affirms Financial Stability Following Recent Review Naufiku Hamunime, the Acting Director of Strategic Communications and International Relations, shared updates from the Bank of Namibia’s Macro Prudential Oversight Committee. After their December 5th meeting, she confirmed that the financial system remains stable, with both banking and non-banking sectors maintaining sufficient capital and liquidity to handle potential losses. today13 December, 2024
insert_link Business / Economics Cirrus Capital’s Groenewald Offers Insight on Central Bank’s Interest Rate Decision The Bank of Namibia In October lowered its main interest rate, citing a faster-than-anticipated decline in inflation and the need for economic support. At that point in time, the Monetary Policy Committee unanimously agreed to reduce the repo rate by 25 basis points, bringing it to 7.25%. Cirrus Capital economist Tannan Groenewald shares his outlook on what the Bank might do next. ENG Tannan Groenewald repo today4 December, 2024
