insert_link Business / Economics 08 May 2024: Morning Biz News: Global Economic Update: NamPower Secures Funding, Amazon Enters South Africa, Nigeria Imposes Money Transfer Levy, Dollar Strengthens 1. NamPower Secures N$2.6 Billion from World Bank for Energy Project: Namibia's power utility, NamPower, has clinched a significant funding boost from the World Bank. The N$2.6 billion secured for its Transmission Expansion and Energy Storage Project marks a pivotal moment, representing the first energy project support from the World Bank to Namibia. The investment will be channeled towards bolstering the country's transmission network, signaling a commitment to enhancing […] todayMay 8, 2024 19
insert_link Business / Economics 29 April 2024 Morning Biz News: Biz News Roundup: Landlords Seize Opportunity, Rand Strengthens, Nigeria Secures Investment, and Dollar Hits High Namibian Landlords Capitalize on Rental Demand Surge: Landlords in Namibia are making the most of increased demand for rental properties by raising deposits, as reported by the FNB Rent Price Index. Despite a slight decline in deposit growth in the fourth quarter of 2023 compared to the previous quarter, it remained significantly higher than the same period in 2022. This trend reflects the buoyancy of the rental market amidst changing […] todayApril 29, 2024 19
insert_link Business / Economics 26 April 2024 Morning Biz News: Economic Insights: Tourism Boost, Corporate Deals, Regulatory Clarity, and Currency Trends By Leonard Witbeen Tourism Sector Vitality: Namibia's tourism sector emerges as a cornerstone of economic vitality, with direct contributions amounting to 6.9% of the GDP, totaling N$14.3 billion. The recently released 2022 Namibia Tourist Satellite Account Report sheds light on the sector's robustness, revealing its employment of 57,277 individuals, constituting 7.9% of the country's total workforce. Corporate Merger Scrutiny: South Africa's government closely examines BHP Group's proposed acquisition of Anglo […] todayApril 26, 2024 20
insert_link Business / Economics 18-25 April 2024: Weekly Economic Wrap: Insights into Key Developments Across Africa and Beyond Weekly Economics As the global economy navigates through a myriad of challenges and opportunities, significant developments unfold across various sectors, shaping the economic landscape. Here's a recap of the noteworthy events from the past week: Namibia's Mining Sector: A Pillar of Growth The mining sector in Namibia continues to showcase robust performance, with the Chamber of Mines reporting impressive figures for the 2023 financial year. Total turnover soared to N$51.5 billion, marking […] todayApril 25, 2024 17
insert_link Business / Economics 24 April Morning Biz News: Namibia’s Exchange Control Policies Pose Challenges to Oil and Gas Sector Expansion The Brief reports that Higino Mutemba, Head of Oilfield Services at RMB, has raised concerns about Namibia's stringent exchange control policies potentially hindering the country's ambitious plans for its burgeoning oil and gas sector. Despite Namibia's efforts to regulate foreign currency flows, Mutemba warns that these policies could deter international investors, drawing attention to the difficulties encountered in repatriating funds from other African nations. Namibia has been actively seeking to […] todayApril 24, 2024 34
insert_link Business / Economics 23 April 2024, Moring Biz News: Biz News Update: Key Developments in Agriculture, Currency Markets, and Commodities Namibian Cereal Production Faces Significant Decline: The Ministry of Agriculture, Water, and Land Reform in Namibia has projected a substantial decrease in cereal production, primarily due to unpredictable rainfall patterns and prolonged dry spells. The commercial farming sector is particularly affected, with an estimated harvest of only 35,200 metric tons. This marks a drastic 68% decrease compared to last season's production levels, highlighting the challenges faced by the agricultural […] todayApril 23, 2024 15
insert_link Business / Economics 18 April 2024 Morning Biz News: Latest Financial Indicators and Business News Recap Bank of Namibia Maintains Repo Rate: The Bank of Namibia has announced its decision to keep the repo rate steady at 7.75 percent, alongside a stable prime lending rate of 11.50 percent. This marks the second monetary policy announcement by the BoN this year, indicating a cautious approach to economic management. South Africa Sees Decrease in Consumer Inflation: Consumer inflation in South Africa saw a slight decrease in March, falling […] todayApril 18, 2024 21
insert_link Business / Economics 17 April 2024 Morning Biz News: Exploring the Latest in Business News As the global economic landscape continues to evolve, let's delve into the latest developments shaping the world of business and finance. Galp Energia Unveils Extensive Exploration Campaign Galp Energia, a key player in the energy sector, has set forth ambitious plans for a comprehensive exploration campaign spanning three years within Petroleum Exploration Licence 83. This initiative entails the drilling of 10 exploration and appraisal wells, coupled with extensive flow testing. […] todayApril 17, 2024 4
