Domestic consumers can expect further hikes in prices, which is expected to make life more financially unbearable. This is after the annual inflation rate for July 2022 increased by 6.8%, compared to 4% recorded in July 2021, making it the highest recorded inflation rate since July 2017.
Signs of recovery from the prolonged drought are starting to emerge with the domestic beef market recording a 20% growth in cattle marketed for the first half of 2022.
The cost of food has sustained an upward trend in recent months, making it difficult for local consumers to put something on the table.
Some N$1.4 million was paid out to Namibian consumers during the first quarter of 2022 by the Namibia Financial Institutions Supervisory Authority (Namfisa).
A study by the Namibia Financial Institutions Supervisory Authority (Namfisa) concluded a local appetite exists for agriculture index-based insurance in Namibia. This type of insurance was conceptualised to help mitigate adverse weather effects around the world.
The health sector recorded growth for the eighth consecutive quarters since quarter two of 2020.
The Stampriet Aquifer Uranium Mining Committee, representing the interests of inhabitants of south-east Namibia in the Omaheke region, are concerned proposed uranium extraction methods could potentially harm an aquifer that supplies the only fresh drinking water in the area.
The two Kavango regions have immense potential to contribute to solving Namibia’s economic problems because they boast fertile land, a great supply of water, favourable climate conditions and abundant natural resources.
Over 100 workers of the Cheetah Cement factory at Otjiwarongo embarked on a strike for better pay yesterday, while the company has threatened retrenchments and reminded workers that they will not be paid during the strike.
A Russian company exploring for uranium in the Omaheke region continues to ruffle the feathers of local farmers and environmental groups.