The domestic microlending sector loan book value has shown a notable increase, reflecting a shift in borrowing trends and preferences among consumers. As of the end of 2023, the value of the domestic loan book grew by 6.1% year-on-year, reaching an impressive N$7.2 billion. This growth is primarily attributed to term lenders, whose loan value amounted to N$6.9...
TransNamib CEO Desmond van Jaarsveld has highlighted critical challenges facing Namibia’s rail transport sector. He specifically pointed out inefficiencies that have forced fuel and mining operators to rely predominantly on road transport. In a recent presentation, he noted that rail accounts for only 12% of fuel transport in Namibia, a figure he deems “way too...
The domestic road sector continues to grapple with a significant funding crisis, which authorities have cautioned is insufficient to cover the costs of maintaining the nation’s road network. The lack of capital has been highlighted by an average deficit of 25.7% in Road User Charges (RUC) revenue from 2016 to 2024. Moreover, RUC projections indicate...
Agriculture plays a pivotal role in Namibia’s economy, supporting livelihoods and contributing to food security. However, the current budget allocation does not reflect its importance. This is according to agriculture minister Calle Schlettwein, who recently warned that the current budget allocation for agriculture is inadequate. “At 2.3% of total non-interest expenditure, and about 0.7% of...
Despite the critical role agriculture plays and the persistence to continuously develop the sector in Namibia, it still contributes only about 6% of the country’s gross domestic product (GDP). This is while more than 70% of the population relies on it for their livelihoods. The Namibia Statistics Agency (NSA)’s provisional census results announced recently show...
Agriculture minister Calle Schlettwein yesterday took issue with the performance of struggling line state-owned enterprises (SOEs), arguing that their inefficiencies are placing an undue burden on farmers. He emphasised that these SOEs, which are intended to support agricultural productivity, are instead hindering growth and profitability for farmers. The minister noted that these industrialisation and marketing...
Puma Energy Namibia is grappling with a significant decline in reliance on rail transportation. This situation has deteriorated dramatically over the past two decades. Adell Samuelson, general manager of Puma Energy Namibia, during a media briefing this week, expressed concerns about the current state of rail services. She noted that the company now relies on...
Namibia Revenue Agency (NamRA) launched a whistle-blower hotline to provide a secure and confidential platform for reporting a range of concerns. The hotline is available to NamRA employees, stakeholders and the public to report issues such as corruption, fraud, tax evasion, money laundering, smuggling, drug trafficking, and any other misconduct or noncompliance with NamRA policies....
Petroleum Training and Education Fund CEO Nillian Mulemi says it is vital for government entities to hold hands and work together for the oil and gas industry to flourish. She was speaking during the opening of the oil and gas health, safety, security and environment awareness and training for critical government officials that render regulated...
Industrialisation and trade minister Lucia Iipumbu has reaffirmed that Namibia is ready to tap into the massive single market of about 1.3 billion people in Africa. She added that this “readiness” can be improved through the Growth at Home strategy by industrialising the local economy to produce goods and services for export markets. Namibia’s readiness...