The Institute for Public Policy Research (IPPR) has cautioned that while Namibia is making progress in building new electricity-generating capacity, progress is not fast enough, and will not be sufficient to completely replace imports. The IPPR stated that this precarious situation is likely to last several years until the end of the decade.
An increase in the prime lending rate at commercial banks has direct implications for the debt-servicing cost of domestic households. This places additional strain on already vulnerable households severely weakening their ability to service both interest and capital repayments. This is substantiated by the growth in household debt.
President Hage Geingob has welcomed Heineken’s takeover of Namibia Breweries Limited (NBL), and has reminded the new controlling shareholders to focus on industrialisation and employment-creation.
The national rail service operator faces the dual challenge of an ageing and deteriorating railway infrastructure and outdated rolling stock.
The Electricity Control Board’s (ECB) financial position remains sound, but the reduced electricity consumption levels over the past five years are not expected to recover instantly, given the prevailing economic downturn, which remains a concern for the ECB’s future revenue projections.
Mines and energy ministry’s spokesperson Andreas Simon said the ministry remains fully aware of the negative impact that high fuel prices inflict on motorists; hence, the public is advised to use scarce resources more prudently during these tough economic times.
Finland president Sauli Niinistö and his business delegation concluded their two-day state visit, with the energy sector leading much of the discussions.
Exploration in 2022 continued with its upward trajectory, breaching N$1.3 billion in real terms.
President Hage Geingob yesterday said he and his Finnish counterpart held fruitful discussions based on the long-standing relationship between the countries, but took issue with a visiting journalist’s question on the fear that Namibia’s recent massive energy projects might lead to the country being recolonised.
Trade minister Lucia Iipumbu said Namibia is ready and open for business and in her pursuit to attract tangible investments, the government is deliberate in ensuring a conducive investment climate, which is supported by progressive regulatory and policy frameworks.