insert_link Business / Economics Tourism recovery sees 60.3% occupancy rate in May 2024 International arrivals in the first quarter of 2024 reached 97% of 2019 levels, according to the United Nations World Tourism Organization and Simonis Storm. Despite economic and geopolitical challenges, tourism is recovering, with the national occupancy rate at 60.3% in May 2024. Here’s the Hospitality Association of Namibia's CEO, Gitta Paetzold. todayJune 24, 2024 11
insert_link Business / Economics Private Sector Credit Growth Remains Modest in April In April, private sector credit extension grew by 1.6% year-on-year, showing a slight improvement from the 1.3% growth recorded in March. However, this figure represents a significant decline from the 2.5% year-on-year growth seen in April 2023. The PSCE growth rate remains below the six-month moving average and is the second-lowest rate recorded in 2024. Simonis Storm Economist- Halleluya Ndimulunde. todayJune 4, 2024 28
insert_link Namibia Vehicle Sales Plummet in April 2024, Marking Year’s Lowest Figures In April 2024, vehicle sales plummeted to 899 units, down from 1,451 units in March and 1,004 units in April last year, representing a negative growth rate of 38.0% month-on-month and 10.5% year-on-year. The decline, driven primarily by commercial vehicles, was the lowest monthly sales recorded this year. Simonis Storm Economist, Halleluya Ndimulunde. todayMay 21, 2024 25
insert_link Business / Economics Private sector credit growth slows Private sector credit extension experienced a sluggish of 1.3% year-on-year in March, reflecting a slowdown from February’s 1.7% year-on-year and a sharp decline from the 3.9% observed in March 2023. This represents the slowest pace of PSCE growth in the last decade. For the first quarter of 2024, the average annual credit growth further softened to 1.8% year-on-year, compared to 3.2% year-on-year in the same quarter of the previous year. […] todayMay 7, 2024 18
insert_link Local Nedbank Namibia Windhoek pedal power race series round 3 set for Sunday The 2024 Nedbank Namibia Windhoek Power Pedal Series third leg (WPP3) will take place on Sunday, 14 April at the entrance of Matchless Mine in Windhoek. Registration for the event closed on Wednesday at 17h00, with organisers anticipating between 190 to 220 cyclists to take part in the event. One of the organisers from the Windhoek Pedal Power Cycling Club, Stephanus Feris said preparations are going well. “All […] todayApril 11, 2024 10
insert_link Business / Economics Private Sector credit declines in February 2024 Private sector credit extension decreased in February 2024 to 1.7% year-on-year down from 2.4% year-on-year in January 2024 and 3.1% year-on-year in February 2023. The trend reflects a continued slowdown in credit uptake, with growth consistently falling below the six-month moving average. Households were the main contributors to the credit uptake. Simonis Storm Economist, Halleluya Ndimulunde. todayApril 4, 2024 39
insert_link Business / Economics February 2024 Vehicle Sales Stable Year-on-Year, Surge Month-on-Month In February 2024, total new vehicle sales remained steady, reaching 1,102 units, almost matching the figures from the previous year, which stood at 1,103 units. This represents a slight contraction of 0.1% year-on-year but marks a significant increase of 16.0% month-on-month. Economist Halleluya Ndimulunde from Simonis Storm provides insights. todayMarch 20, 2024 18
insert_link Namibia Vehicle sales increase by 17% in 2023 New data shows that vehicle sales increased by 17% in 2023 to 12,775 units compared to 10,919 units sold in 2022. This marks the highest total of new vehicles sold in the country since 2017. December 2023 witnessed a downturn, with a year-on-year decline of 11.7% and a month-on-month drop of 28.2%, totaling 841 units. Halleluya Ndimulunde from Simonis and Storm has more. todayJanuary 22, 2024 24
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
