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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

South African rand

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30 October-07 November 2024 Weekly Economics Wrap: Key Developments and Global Trends

    Namibia's Agricultural Growth: The Namibia Berries Project Expansion The Namibia Berries Project is setting its sights on significant expansion. The project plans to grow by 75 hectares annually, targeting 240 hectares by 2026. The ambitious vision, shared by founder Michael Rodenburg, aims for long-term growth, with a potential reach of 500 hectares, depending on funding and community development. This expansion is poised to make a substantial impact on […]

todayNovember 7, 2024 8

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Business / Economics

24 June 2024 Morning Biz News: Business News Roundup: Key Developments in the Financial World

1. Savanna Beef Secures N$150 Million Loan for State-of-the-Art Abattoir Namibia’s Savanna Beef has achieved a significant milestone this month by securing a N$150 million loan. This financing will support the construction of an advanced export abattoir, marking a pivotal moment for the country's beef industry. Facilitated by Cirrus Capital and driven by the Beef Value Chain Forum, this collaborative effort underscores Namibia’s commitment to enhancing its agricultural infrastructure. The […]

todayJune 24, 2024 21

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Business / Economics

Bank of Namibia keeps repo rate at 7.75%

The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, with the prime lending rate holding steady at 11.50 percent. Governor of the Bank Johannes !Gawaxab says this policy stance will continue to safeguard the one-to-one link between the Namibia Dollar and the South African Rand and support domestic economic activity. UNAM economics lecturer, Dr. Omu Kakujaha-Matundu, believes that consumers […]

todayJune 19, 2024 73

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Business / Economics

12 June 2024 Morning Biz News: “Market Dynamics Shift: Vitol Divests, Rand Strengthens, Nigeria Explores LNG, Dollar Steadies”

Fair Competition Ensured as Vitol Emerald Bidco Divests from Service Stations in Namibia In a move to uphold fair competition in Namibia's fuel market, Vitol Emerald Bidco (Pty) Ltd has announced its decision to divest from 58 Engen and Shell service stations. This decision comes in the wake of its acquisition of Engen Ltd and is in compliance with conditions set by the Namibian Competition Commission. The aim behind this […]

todayJune 12, 2024 17

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Business / Economics

11 June 2024 Morning Biz News: Biz News Update: Q1 2024 Highlights and Key Financial Indicators

  Namibia's Pork Production Surge In the first quarter of 2024, Namibia's local fresh and processed pork production achieved a significant milestone, meeting 49.4% of the nation's consumption demands. This progress towards self-sufficiency was reported by the Brief, highlighting the country's efforts to bolster its domestic agricultural capabilities. The Livestock of Namibia Board noted a substantial 10.3% increase in the number of pigs slaughtered, rising to 12,253 from just over […]

todayJune 11, 2024 24

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Business / Economics

2 May 2024 Morning Biz News: Financial Highlights and Market Updates

Momentum Metropolitan Holdings Shines with Strong Earnings Momentum Metropolitan Holdings has kicked off the fiscal year ending December 31 with a resounding success, as evidenced by its robust earnings report for the first half. The company, particularly its operations in Namibia, played a pivotal role in driving this performance. Momentum Metropolitan Africa witnessed a significant surge in normalized headline earnings, largely attributed to increased investment income from Namibia. This underscores […]

todayMay 2, 2024 17

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Business / Economics

Morning Biz News – April 10, 2024: Galp Energia’s N$2.4 Billion Namibian Investment, Rand Strength, and Market Stability Dominate Financial Landscape”

Galp Energia Invests N$2.4 Billion in Namibia, Prioritizing Local Suppliers Galp Energia, a prominent player in the energy sector, has announced a significant investment of approximately N$2.4 billion in Namibia's upstream projects in 2023. Notably, over 61% of this investment has been allocated to local suppliers, underlining the company's commitment to fostering local economic growth. Filipe Silva, CEO of Galp Energia, emphasized the company's strategic focus on growth, with a […]

todayApril 10, 2024 19

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Business / Economics

28 March 2024 Morning Biz News: Economic Insights: Record Mining Production, Nigeria’s Economic Overhaul, and Global Market Trends

  In the dynamic landscape of global economics, recent developments highlight both achievements and strategic shifts aimed at fostering growth and stability. From record-breaking production figures in the mining sector to comprehensive economic reforms in Nigeria, coupled with fluctuations in oil prices and currency markets, these events offer insights into the current state of affairs and future trajectories. Andrada Mining's Milestone Performance Andrada Mining has made headlines with its remarkable […]

todayMarch 28, 2024 21

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Business / Economics

7-14 March 2024 Weekly Economics Wrap: Key Developments Shaping Markets

  Namibia Focus: The Ministry of Industrialisation and Trade continues its commendable efforts in nurturing entrepreneurship within Namibia. Approximately 2000 Macro, Small, and Medium Enterprises (MSMEs) have undergone entrepreneurship training under the EMPRETEC Namibia program since its inception in 2019. This week, an additional 188 MSMEs commenced their training, signaling continued support for the growth and development of entrepreneurial skills in the business sector. The Pupkewitz Group, a prominent player […]

todayMarch 14, 2024 14

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