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Posts by Maihapa Ndjavera:
The value of exports in April 2022 decreased by 36.4% to N$5.5 billion from N$8.7 billion reported in March 2022. In addition, when compared to N$6.5 billion recorded in April 2021, exports decreased by a notable 15.4%. Providing an update on the mission to the World Economic Forum’s annual meeting in Davos, Switzerland, in May, President Hage Geingob said it is now time for Namibia to act and deliver. The founder of an annual business summit, Martin Nankela, has encouraged the youth to get busy and not complain that government is not creating enough jobs for them. Nankela, a director of Cross Branding Investments, was speaking this weekend during the second annual business summit in Windhoek. Finance minister Iipumbu Shiimi said government has embarked on a study to fully comprehend the overall impact of elevated energy prices on food prices and supplies. The United States African Development Foundation aims to invest in Namibian youth and women, specifically through vocational training for job creation in the sphere of agriculture and to develop small and medium enterprises. President Hage Geingob yesterday stressed for technology to be a force for development for all Namibians, saying it must reach everyone. One-hundred families on Wednesday became homeowners. This happened in Windhoek’s informal settlements under the Informal Settlement Upgrading Affordable Housing Pilot Project. Namibia surpassed Australia and Canada in 2021 to become the world’s second largest primary producer of uranium oxide. 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. Khomas taxpayers owe an astounding N$5.6 billion in capital to the Namibia Revenue Agency. This exorbitant amount excludes interest and penalties. 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. 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. 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. 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. 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. 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. 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. The Road Fund Administration (RFA) projects it will require about N$4.3 billion per annum to rehabilitate Namibian roads. The administration currently collects only about N$2.5 billion per annum from road users, which translates into a shortfall of N$1.8 billion. In line with Namibia’s economic diplomacy, the country continues to promote mutually beneficial bilateral relations to achieve its overarching socio-economic developmental objectives. The Namibia Power Corporation on Friday inaugurated its fully-owned and operated renewable energy plant, the Omburu 20MW PV power station. The project is one of four renewable energy-generation projects aimed at increasing local generation capacity and ensuring security of supply.