BANGUI – The Central African Republic (CAR), a poverty-stricken and perennially unstable country despite its vast mineral wealth, has launched a memecoin, called $CAR. It had a tumultuous debut, experts said. A memecoin is a cryptocurrency that rides on the popularity of a viral personality or phenomenon on the internet. It is often seen as...
Business
BP pledges strategic ‘reset’ as profit tumbles
LONDON – Britain’s BP on Tuesday said its annual net profit slumped 97% last year, as the struggling oil and gas giant pledged to “fundamentally reset” its strategy. Profit after tax tumbled to US$381 million in 2024 from US$15.2 billion in 2023, owing to weaker refining margins, asset write-downs and unfavourable accounting effects linked to...
World leaders seek elusive AI common ground
PARIS – World leaders were set to hold formal talks in Paris yesterday on artificial intelligence (AI), seeking elusive common ground on a technology subject to a global race for promised economic benefits. Hosted by French President Emmanuel Macron and Indian Prime Minister Narendra Modi, the gathering comes hours after Elon Musk reportedly put in...
Cran strives to bridge digital divide
The Communications Regulatory Authority of Namibia (Cran) strives for the operationalisation of the Universal Service Fund (USF). The USF in Namibia is a funding mechanism designed to expand communication services to underserved areas and populations. The mechanism is financed primarily through contributions from mobile network operators and telecommunications companies. The fund ensures contributions benefit citizens and...
Namibia maintains corruption ranking …as Sub-Saharan Africa scores worst out of all global regions
Namibia has for the fourth consecutive year maintained a score of 49 out of 100 on the Transparency International’s (TI’s) Corruption Perceptions Index (CPI). This index is the leading global indicator of public sector corruption, providing an annual comparative snapshot of 180 countries and territories. The consistent score for Namibia has kept the country at...
Namibia’s trade deficit improves
Rudolf Gaiseb The Namibia International Merchandise Trade Statistics bulletin issued by the Namibia Statistics Agency (NSA) reveals that in December 2024, the country’s trade balance, that is the difference between exports and imports during a specific period, stood at a deficit of N$119 million. This is a significant improvement from the deficit of N$5.5 billion...
Namfisa unveils new corporate website
The Namibia Financial Institutions Supervisory Authority (Namfisa) recently unveiled its newly- redesigned, modern and user-friendly website. This development represents a crucial advancement in Namfisa’s dedication to improving operational efficiency, fostering transparency and enhancing engagement with stakeholders in Namibia’s financial sector. Speaking at the launch event, company CEO Kenneth Matomola emphasised the transformative nature of the...
Annual inflation at 3.2% in January
The annual domestic inflation for January 2025 stood at 3.2%, the Namibia Statistics Agency (NSA) revealed last week. In its consumer price index report, the NSA stated that inflation was lower than the 5.4% registered in January 2024. The statistician general, Alex Shimuafeni, said the monthly inflation rate was 1.1%, higher than the 0.2% registered...
Cran makes financial turnaround … significant surplus driven by spectrum revenue
The Communications Regulatory Authority of Namibia (Cran) has announced a substantial financial turnaround, reporting a total comprehensive surplus of N$32.8 million for the fiscal year. This is a 293% increase compared to the previous year’s N$17 million loss. This growth is largely attributed to increased spectrum revenue from a successful spectrum auction, and a positive...
Namibia leads Africa in biogas renewable energy … billion-dollar project launched in Maltahöhe
MALTAHÖHE – Namibia is poised to become the first African nation to harness renewable energy from the cactus plant, thanks to a pioneering Nopal Carbon Farming project launched in Maltahöhe last week. This project marks a step forward in converting arid lands into productive bioenergy sites. The project, located on farm Namseb in partnership with...