Author: Maihapa Ndjavera (Maihapa Ndjavera )

DEPUTY governor of the Bank of Namibia, Ebson Uanguta says massive capital injections into the domestic economy by the government, such as the Targeted Intervention Programme for Employment and Economic Growth (TIPEEG), should be used to prop up the economy, particularly at times when economic growth is found wanting. 

Mines and energy minister Tom Alweendo has confirmed that government is looking at the possibility of introducing nuclear energy as an additional power source for Namibia. 

With six months left for the final leg of the tax amnesty programme, 235 505 taxpayers are in arrears with the Namibia Revenue Agency. 

THE diamond sector is facing a significant challenge of low international demand. Coupled with a G7 decision to route all diamonds through Belgium, this poses a serious risk to the well-being of Namibia’s diamond mining sector.

China has been Namibia’s second-largest trading partner for many years, and bilateral trade volumes between the two countries exceeded US$1.3 billion in 2023, with year-on-year growth of 16.5%. 

Namibia Power Corporation (NamPower) has requested a 14.59% increase in electricity tariffs from the Electricity Control Board (ECB) for the 2024/25 financial year.

Last week, the finance and public enterprises ministry presented its N$8.1 billion budget to Parliament for consideration and approval.

Deputy finance minister Maureen Hinda-Mbuende is not impressed with the profits made by commercial banks at the expense of households, who struggle to keep up with the escalating cost of living. 

Considering that Namibia is the world’s second-largest uranium producer, it is quite ironic that the country remains confronted with a persistent power supply deficiency which sees it annually importing some 70% of its electricity.