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Namibian Economy

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O&L leisure commences upgrades and renovations at Midgard

    Namibia is experiencing a transformative shift towards becoming a premier destination, and O&L Leisure is at the forefront of this evolution. With a steadfast commitment to authenticity, care, and passion, O&L Leisure proudly announces the commencement of upgrades and renovations to 25 rooms at Midgard, a cherished retreat nestled in the heart of Namibia's captivating landscapes. As Namibia transitions into a premium destination, O&L Leisure is aligning its […]

todayMarch 27, 2024 6

Business / Economics

Building Workers Pension Fund optimistic on construction sector prospects

The Namibia Building Workers Pension Fund is optimistic about the year ahead. The principal officer of the NBWPF, Enwich Kazondu, says several projects in the pipeline will impact the construction sector positively. Although, not all will materialise at once, at least the prospects of what lies ahead, create optimism, which is always important from a macroeconomic perspective. Here is Enwich Kazondu.  

todayJanuary 22, 2024 19

Business / Economics

The gross domestic product for the third quarter of 2023 expanded by 7.2 percent

  Domestic Economy 1. In the third quarter of 2023, the Real Gross Domestic Product (GDP) exhibited a noteworthy expansion, registering a robust growth of 7.2 percent. This represents a substantial increase from the 5.4 percent recorded during the corresponding quarter of the preceding year. The economy witnessed a commendable trend, characterized by 10 consecutive quarters of positive growths. 2. In nominal terms, the size of the Namibian economy, quantified […]

todayDecember 14, 2023 4


Development Bank of Namibia (DBN) Appoints Nicky Katapa Mutenda as Chief Financial Officer

The Bank announces the appointment of Nicky Katapa Mutenda as the new Chief Financial Officer (CFO) with effect from December 18, 2023, for a period of 5 years. Nicky’ appointment follows a meticulous selection process conducted by a panel of six distinguished individuals drawn from the DBN Board and by external experts. Commenting on Nicky’ appointment, John Steytler, DBN CEO, expressed unwavering confidence in Nicky as a capable candidate with […]

todayNovember 30, 2023 8

Business / Economics

GDP growth to slowdown to 3.3% in 2023

FNB Namibia Economist, Ruusa Nandago has revealed that the country’s Gross Domestic Product growth is expected to moderate to 3.3% in 2023 and 2.8% in 2024, from 4.6% in 2022, mainly due to the dry weather conditions which will be compounded by a slowdown in consumption. Nandago explains how inflationary pressures have impacted consumers.

todayNovember 27, 2023 6

Bank Windhoek’s strategic communication manager

Business / Economics

Thought Leadership: Plan your bonus to last the long run

By Samuel Linyondi, Bank Windhoek’s Strategic Communication Manager In October, the Bank of Namibia (BoN) left the repo unchanged at 7.75%, the highest in the past 14 years. If a repo rate increases, borrowing becomes more expensive, and product and service prices increase for consumers. The repo rate is one of the monetary tools to either control inflation or stimulate demand. Conversely, inflation is the rate of price increase over […]

todayNovember 23, 2023 8

Business / Economics

Survey shows that businesses struggle to find skilled workers

A survey by the Economic Policy Research Association and over 500 local businesses has revealed that 56% find it "difficult" to hire adequately skilled employees, with 30% describing it as "extremely difficult." The 2022 survey highlights the need for skilled Namibians to align with global standards in a small, shrinking local economy. The findings are part of a Private Sector Engagement Report launched in August 2023, aiming to establish dialogue […]

todayNovember 20, 2023 2