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.
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.
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.
For Namibia to trade locally, regionally and globally, it is a regulatory requirement for products produced or manufactured domestically to be of quality and also that the quantity and packaging standards meet international requirements.
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.
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.
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.
Khomas taxpayers owe an astounding N$5.6 billion in capital to the Namibia Revenue Agency. This exorbitant amount excludes interest and penalties.
Bank of Namibia has appealed to commercial banks to continue being open and accommodative to local small businesses, and investigate innovative ways and means to be more supportive to assist and support economic recovery efforts.
Namibia surpassed Australia and Canada in 2021 to become the world’s second largest primary producer of uranium oxide.