Namibian transport and logistics companies are facing an uphill battle as they struggle to deliver essential goods from South Africa, such as food and medicine, whilst combating strict regulations, such as a mandatory quarantine, and their drivers being stigmatised as potential Covid-19 carriers due to frequently leaving the country.
Namibia registered a deficit on the current account during the first quarter of 2020, mainly due to deterioration in the merchandise trade balance.
The implementation of Air Namibia’s new business plan would require a financial commitment of over N$7 billion during the current financial year, thus making it both unaffordable and unsustainable
A last-minute additional quota allocation by the fisheries ministry has led to the saving of hundreds of jobs at NovaNam, at least for the time being.
Job losses in Namibia because of the Covid-19 pandemic have increased significantly since the start of the initial lockdown in March as businesses struggle to stay alive.
The Bank of Namibia (BoN) has lowered the repo rate, a record of three times in the last four months since March 2020, in a bid to provide a much-needed relief from the adverse economic effects of the coronavirus pandemic.
Cabinet has directed the Ministry of Finance to establish an Inter-Institutional Team to finalise details for the establishment of a Sovereign Wealth Fund for Namibia, according to a Cabinet briefing shared by ICT Minister Peya Mushelenga.
While informal sector trading is a legitimate option for many Namibians to defy poverty, operating in this largely unregulated economy became exponentially more difficult when Covid-19 lockdown measures were imposed in March.
The largest public tourism operator, the Namibia Wildlife Resorts (NWR), as well as the Hospitality Association of Namibia (HAN) have welcomed the tourism revival initiative set to take place between 15 July and 15 August 2020.
The Namibia Airports Company expects a gradual reopening of borders to selected countries and normal flight schedules are expected to resume.
!Ereamsa Chinab !nâ ūhâ ǂgaeǂguis ge ǂganamsendi hîan Chinab !hūǁîn ǂharugub ǂnûiǂgādi Namibiab !nâ hâde ra dīdi, gaxuse !âuhe hâ
As the number of coronavirus cases in the country spiked at the weekend, both Air Namibia and the Namibia Airports Company (NAC) confirmed an immediate lockdown of their respective head offices and a return to stage 1 Covid-19 lockdown measures due to possible exposure to the virus.
The Bank of Namibia said it has become aware of a leaked internal memo whereby it advised its staff of the decision to revert to stage 1 lockdown.
The majority of local car dealerships have bemoaned lacklustre sales, with many saying the industry was already suffering before the Covid-19 lockdown in March due to the ongoing recession.
Despite more than 100 retrenched Hilton Hotel workers claiming they were frustrated by the refusal of the hotel to pay their final pay and severance packages, general manager Martin Voskamp yesterday said all workers have received what is due to them.
The prevalence of Covid-19 has intensified numerous challenges for Namibians trying to earn a decent living and has exacerbated the vulnerability of key economic sectors, small and medium enterprises, as well as the informal economy.
Chief executive officer of the Business and Intellectual Property Authority (BIPA), Vivienne Katjiongua, conceded that the authority’s online system is not as efficient as it was hoped to be.
The authorities in China will screen and recommend a shortlist of Chinese companies operating in Namibia for the much-anticipated upgrading and expansion of the Hosea Kutako International Airport.
Some of the sectors hardest hit by the Covid-19 pandemic in the Namibian economy are tourism, transport and logistics as well as education, areas all of these areas will require much-needed government intervention to recover.
Popular Democratic Movement (PDM) parliamentarian Nico Smit has charged poverty eradication has long been a slogan used by government to rally voters during elections.