The possible upgrading of a Namdeb wind project holds the potential to power diamond mining operations, while additional electricity could be transmitted into the national grid. This is as Namdeb, equally owned by government and the De Beers Group, continues to align its operations with national goals for industrialisation, clean energy transition and sustainable development....
A leading economist in the country has called the Bank of Namibia’s decision to commence gold accumulation as part of its foreign exchange reserve management strategy as “long-overdue”. The central bank last week announced the decision to include gold, targeting 3% of net foreign exchange reserves, saying it aligns with global central banking trends, given the...
A notable acceleration in corporate credit uptake has resulted in domestic private sector credit extension (PSCE) growing by 5% year-on-year (y/y) in March 2025, up from the 3.9% y/y recorded in February. This marks the strongest pace of credit expansion in five years. Corporate credit constitutes approximately 50% of total domestic credit extended. This increased...
The domestic economy maintained a positive growth trajectory during the first quarter of 2025. This was largely supported by strong performance in the mining sector, particularly uranium, gold and zinc as well as notable gains in construction, wholesale and retail trade, communication and tourism. Based on these figures, the central bank expects the domestic economy...
Namibia instantly became a more attractive international and domestic investment destination when President Netumbo Nandi-Ndaitwah recently announced a reduction in the country’s non-mining corporate tax. A seasoned economist has pointed out that the tax changes combined with other reforms signify a long-term economic structural shift that can propel key sectors. During her maiden State of...
The World Bank’s most recent figures indicate that sub-Saharan African growth is expected to reach 3.5% in 2025, and further accelerate to 4.3% in 2026-2027. This is while global public debt continues to rise to historic levels, amidst intensifying fiscal pressures. The World Bank (WB) has attributed Africa’s economic persistence to increased private consumption and...
Even though the country received the best rains in decades, there are no immediate plans by either the Namibia Water Corporation (NamWater) nor the City of Windhoek (CoW) to reduce the price of water. The reasoning is that the water price is determined by economic factors comprised of treating, conveyance and distributing the resource. Responding...
The local content aspect in developing Namibia’s natural resources is vital, and this includes value addition, particularly in the oil and gas sectors where developing downstream capacity and infrastructure such as an oil refinery are paramount. These sentiments were expressed on Wednesday by President Netumbo Nandi-Ndaitwah at the official opening of the 7th Namibia International...
JAC Motors this week exhibited their popular bakkies at the biggest shopping mall in the country, the Grove Mall in Windhoek. On show at the mall were the top-of-the-range T9 Super Lux, which retails for N$599 900, the T9 Lux, going for N$579 900 and the T8 Super Lux which goes for N$499 900 brand-new. ...
This year’s exceptional rainy season experienced in most parts of Namibia has been a blessing for farmers, but also caused severe damage to many national and urban roads. The Roads Authority (RA) will need approximately N$400 million to repair these damaged roads after weeks of continuous heavy rains across the country. RA spokesperson Hileni Fillemon...