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...
The international gold price reached a record high of US$3500 per ounce yesterday before retreating to around US$3400 per ounce. Thus far, gold is one of the major commodity winners as it has risen above 31% this year. This jump in the gold price is good news for Namibian gold miners such as the QKR...
When the recently- tabled national budget is unpacked, it emerges that only 12% of the allocated funding directly goes into building the roads, schools, hospitals, water, electricity and rural infrastructure. These are items that Namibians need most, said Swapo parliamentarian Fenny Nanyeni. She urged that Namibia should ensure its borrowing decisions directly support capital formation,...
The Namibia Civil Aviation Authority (NCAA) recently scooped the prestigious Best Civil Aviation Authority award during Aviation Week Africa held in Livingstone, Zambia. The continental recognition celebrates outstanding performance, regulatory excellence and commitment to aviation safety and service delivery across Africa. The NCAA says this achievement is a direct result of the tireless efforts and...
Canadian oil and gas explorer Reconnaissance Energy Africa (ReconAfrica) has provided a drilling update on what the company’s leadership calls its largest and most attractive well, known as Prospect I. Prospect I is located onshore Namibia in Petroleum Exploration Licence 073. It is ReconAfrica’s largest prospect to be drilled so far. With this exploration...
In recent years, financial inclusion has taken centre-stage as a key driver of economic growth, poverty reduction and prosperity. In this regard, deposit insurance schemes are among the key vehicles through which financial inclusion is enhanced. This was the sentiment expressed last week by Michael Humavindu, executive director in the finance ministry, at release of...