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Namibia fast-tracking oil production – Comalie
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Namibia fast-tracking oil production – Comalie

National Petroleum Corporation of Namibia (Namcor) chairperson Jennifer Comalie has applauded all exploration partners after light oil was discovered in Namibia in February 2022, saying all stakeholders are aligned to commence with production as quickly as possible. 

Reliable power restored at Osona Village
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Reliable power restored at Osona Village

After experiencing regular power outages for a number of days last week, homeowners at Osona Village just outside Okahandja have been assured the cause of the problem has been identified and that the situation is being closely monitored.

Geingob reiterates call for reclassification
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Geingob reiterates call for reclassification

President Hage Geingob yesterday reiterated the call for Namibia’s income level by the World Bank to be reclassified, saying the current classification as an upper middle-income country is insensitive to distortions created by the unequal distribution of resources. 

Namibia tackles double digit youth unemployment
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Namibia tackles double digit youth unemployment

Namibia, like many other African countries, has more people under the age of 18 than many other countries around the world. This youth population in Namibia and the rest of Africa is projected to double by 2050, which will place more and more stress on already strained economic resources. 

Fast rising repo rate  a liquidity risk- PDM
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Fast rising repo rate a liquidity risk- PDM

Popular Democratic Movement (PDM) parliamentarian Nico Smit is concerned that the fast rising repo rate goes against very basic economic fundamentals. Speaking during a media briefing on Friday, Smit cautioned that a sudden increase in the repo rate would result in a liquidity risk to the broader economy. 

Osona residents fume over power outages
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Osona residents fume over power outages

Homeowners at Osona Village just outside Okahandja have been up in arms over what they call regular power outages for almost four days. Some residents claimed their electric appliances have been damaged and perishable food spoiled during the persistent interruptions.