insert_link Business / Economics 7 August 2024 Morning Biz News: Nedbank’s Avo SuperShop Growth, South Africa’s Refinery Deal, Nigeria’s Oil Production Surge, and Currency Updates Nedbank’s Avo SuperShop Sees Rapid Growth Since its launch in the latter half of 2023, Nedbank’s Avo SuperShop has made significant strides, registering over 1,800 users and featuring more than 3,000 products from 19 merchants. According to Nedbank Group’s unaudited interim results for the six months ending June 30, 2024, both user registration and merchant participation are expected to grow further. The Avo SuperShop offers a digital marketplace for […] todayAugust 7, 2024 23
insert_link Business / Economics Weekly Economics Wrap: 25 July – 1 August 2024: Telecom Upgrades in Namibia, Rand Strengthens, and Global Market Highlights Namibian Telecom and Connectivity Upgrades UCOM and BDQ Mobile Network Solutions have announced a significant 10-year partnership aimed at revitalizing Namibia’s third mobile phone operator. BDQ, in collaboration with American-based VANU Technology, will deploy advanced telecommunications infrastructure to enhance service quality. In related news, Telecom Namibia has successfully activated the Equiano subsea cable. This major development promises to greatly improve internet connectivity with 12 fiber pairs and a design […] todayAugust 1, 2024 12
insert_link Business / Economics 01 August 2024 Morning Biz News: Telecom Namibia Launches Equiano Cable; Rand Strengthens; Fed Holds Rates; Samsung Sees Record Growth Telecom Namibia Activates Equiano Cable: Boosting ICT in the Region Telecom Namibia has officially activated its capacity on the Equiano subsea cable, marking a significant milestone for the country's ICT sector. The Equiano cable, commissioned by Google, establishes Namibia as a key player in regional information and communication technology. It connects Namibia to Europe via Portugal and links to other parts of Africa through Cape Town and Johannesburg, enhancing the […] todayAugust 1, 2024 21
insert_link Business / Economics 31 July 2024 Morning Biz News: Ohlthaver & List Completes Full Acquisition of Broll Namibia; Rand and Yen Show Market Movements; Oil Prices Rebound Slightly Ohlthaver & List Acquires Full Ownership of Broll Namibia Windhoek, Namibia – The Ohlthaver & List (O&L) Group has solidified its position in the property services sector by acquiring the remaining 49.9% of shares in Broll Namibia from the Broll Property Group (Pty). The deal, which took effect on 1 July 2024, makes O&L the sole shareholder of Broll Namibia. This strategic acquisition underscores O&L's commitment to expanding its footprint […] todayJuly 31, 2024 25
insert_link Business / Economics 30 July 2024 Morning Biz News: Namibia’s Aquatic Exports Rise Despite Decrease in Landings; TotalEnergies Withdraws from South African Gas Block Namibia's Aquatic Exports Rise Namibia's export earnings from fish, crustaceans, molluscs, and other aquatic invertebrates reached N$4.1 billion in Q1 2024, a slight increase from N$4.0 billion in Q1 2023. Despite this, High Economic Intelligence (HEI) reports a 16.7% decrease in landings of quota species, down to 97,077 metric tons from 116,471 metric tons in the previous year. TotalEnergies Exits South African Offshore Gas Block TotalEnergies has announced its withdrawal […] todayJuly 30, 2024 22
insert_link Business / Economics 26 July 2024 Morning Biz News: Key Developments Impacting the Market Cabinet Approves Baynes Hydropower Project The Namibian Cabinet has given the green light for the implementation of the bi-national Baynes Hydropower Project. This approval also includes the expedited construction of a road to the project site, set to commence in September. The decision follows a June meeting between Angola’s Minister of Energy and Water, Joắo Baptista Borges, and Namibia’s Minister of Mines and Energy, Tom Alweendo. During the meeting, […] todayJuly 26, 2024 15
insert_link Business / Economics 24 July 2024 Morning Biz News: Financial Brief: Key Updates on Pension Schemes, Currency Movements, and Commodities GIPF’s Pension-Backed Housing Loan Scheme Gathers Momentum The Government Institutions Pension Fund (GIPF) is poised to enhance its financial offerings with an innovative pension-backed housing loan scheme. This initiative will be facilitated through GIPF’s subsidiary, Kuleni Financial Services, and housing loan fund manager, First Capital Treasury Solutions. The Memorandum of Agreement (MoA) for the scheme is currently under review by the Office of the Prime Minister, as reported by The […] todayJuly 24, 2024 22
insert_link Business / Economics 23 July 2024 Morning Biz News: Galp’s N$2.1 Billion Investment in Namibia Highlights Busy Financial Week; Rand Steady, Oil Prices Drop, and SAP Surpasses Revenue Expectations Galp Energia's Major Investment in Namibia Galp Energia has invested approximately N$2.1 billion in upstream projects in Namibia during the first half of 2024, according to The Brief. The total investment by the group amounted to €564 million, with €389 million allocated specifically to upstream activities. In the second quarter of 2024, capital expenditure reached €241 million, with Namibia accounting for about one-third of the upstream investments, reflecting Galp's 80% […] todayJuly 23, 2024 13
insert_link Business / Economics 22 July 2024 Morning Biz News: Green Hydrogen Boosts Jobs in Namibia; Rand Weakens, Oil Prices Rise in Global Markets Green Hydrogen Sector Sparks Job Creation in Namibia Green hydrogen pilot projects in Namibia's Central Valley are making significant strides, creating over 200 jobs and awarding nearly N$170 million in contracts to local small and medium-sized enterprises, according to The Brief. Eline van der Linden, Head of Impact and ESG for the Namibia Green Hydrogen Programme, emphasized that these developments are crucial for advancing the green hydrogen sector. Each job […] todayJuly 22, 2024 20
