Popular Democratic Movement leader McHenry Venaani has pooled resources together to assist a 100-year-old woman from Mupini village in the Kavango East region with potable water. Venaani, who is on a week-long working visit to the two Kavango regions, this week donated water pipes and tap, as well as paid a connection fee for the...
Clarifying the practice of forex trading in Namibia, the central bank has reminded prospective traders that the exchange or conversion of the Namibian Dollar into any foreign currency is heavily regulated to control the use of the country’s foreign currency reserves in the best interest of the economy. This comes after a local lawyer, Kadhila...
The annual percentage change in the producer price index (PPI) for manufacturing of cement, lime and plaster was stagnant during the first quarter of 2020, compared to the 9.2% deflation recorded during the same period last year. The PPI measures the rate of change in the prices of goods and services bought and sold by...
Governor of Bank of Namibia, Johannes !Gawaxab, said the country needs to dedicate time to dissect growth constraints to the domestic economy and then devise and implement the necessary strategies to overcome them. While delivering his maiden governors address last week at the 30th anniversary of the bank, he said the Namibian economy needs structural...
Economic analysts in the country believe the agricultural sector will be the most suitable platform for transformation to fight the adverse financial impact of the Covid-19 pandemic. Speaking to New Era, Omu Kakujaha-Matundu, a senior lecturer at the University of Namibia (Unam) said the country needs to set agricultural and industrial production goals and work...
Local generation of electricity increased, both year-on-year and quarter-on-quarter, in the first quarter (Q1) of 2020, mostly due to high rainfall. The local generation of electricity increased significantly by 82%, year-on-year, to 778.2 million kilowatt-hours. According to the Bank of Namibia’s Q1 quarterly bulletin, the significant increase was due to an adequate inflow of water...
The Government Institutions Pension Fund (GIPF) invested close to N$45 billion in the Namibian economy during the 2019 financial year. Of this amount, investments worth N$5.6 billion have been committed in unlisted domestic sectors in Namibia. Figures from the recently released Fund’s 2019 annual report reveal that to date, N$1.5 billion was committed to infrastructure,...