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 September Vehicle Sales Drop As Rental Purchases Plummet Vehicle sales in September reached 988 units, continuing a two-month decline. Out of these, 978 were sold to dealerships, 10 to rental agencies, and none to the government. Rental agency purchases saw a sharp drop, falling from 141 units in July to just 10 in September. The overall market was mainly sustained by sales in the commercial vehicle segment. Simonis Storm Economist: Almandro Jansen: today17 October, 2024
insert_link Business / Economics 10 October 2024 Morning Biz News: Domestic Debt Rises, South Africa’s LPG Sector Expands, and Kenya Seeks IMF Support Domestic Debt Surge Namibia's domestic debt has reached N$123.51 billion as of the end of September, reflecting a month-on-month increase of N$2.04 billion, according to data from The Brief. Research firm Simonis Storm reports that the growth is primarily driven by the issuance of fixed-rate bonds (GCs), which accounted for 63% of the increase, with N$1.27 billion issued in GCs. South Africa's LPG Sector Set for Growth South Africa’s liquefied […] today10 October, 2024
insert_link Business / Economics 27 September 2024 Morning Biz News: Hospitality, Job Losses, Global Markets, and Financial Indicators 1. Weddings Boost Hospitality Occupancy in Northern Namibia Weddings and related events had a positive impact on hospitality occupancy in northern Namibia during August 2024. Despite this boost, the national occupancy rate dropped to 63% from 68.9% in August 2023, according to a report from Simonis Storm Securities researcher Almandro Jansen, cited by The Brief. The occupancy rate remains a critical measure of activity within Namibia's hospitality sector. 2. […] today27 September, 2024
insert_link Business / Economics Namibia’s GDP hits N$59.5 billion in Q2 The Namibian economy grew by 3.5% year-on-year in Q2 2024, down from 4.3% in Q1 and slightly below the 3.6% growth in Q2 2023. This marks 13 consecutive quarters of growth since a contraction in Q1 2021. Nominal GDP reached N$59.5 billion, with real GDP at N$39.1 billion for the quarter. Simonis Storm Economist, Halleluya Ndimulunde has more. today24 September, 2024
insert_link Business / Economics August 2024 sees 15% reduction in vehicle sales Vehicle sales dropped to 995 units in August, down from 1,172 in July 2024 and 1,101 in August 2023, reflecting declines of 15.1% month-on-month and 9.6% year-on-year. The decrease affected both passenger and commercial vehicles. Here's Simonis Storm Economist, Halleluya Ndimulunde. today18 September, 2024
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. today24 June, 2024
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. today4 June, 2024
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. today21 May, 2024
