Business

Government should not pin all hopes of an economic reform and recovery on the agriculture as this sector is more exposed to numerous challenges.

The Bank of Namibia’s latest economic outlook expects the Namibian economy to fall into a deeper contraction during 2020, mainly due to the devastating impact of Covid-19 across all sectors. 

Some of the measures governments have put in place during the Covid-19 pandemic include the cutting of repo rates to provide some short-term relief to borrowers. 

Industrialisation minister Lucia Iipumbu has commended local retailers for accommodating local produce on their shelves and thus contributing to the Buy Local, Grow Namibia initiative. 

Commentators believe demand for local major exports will likely increase as the country pins its hopes on international trade and world output to recover from a disastrous 2020. 

About 14 entities in Germany and four outside the European country have objected against the importation of Namibian bushwood for use in power and heat plants in Hamburg. 

The demand for government bonds slightly rose during the second quarter of 2020 due to relatively attractive returns.

In August 2020, Namibia’s exports stood at N$6.3 billion and imports at N$8.2 billion, subsequently, the country’s trade balance resulted in a deficit of N$1.9 billion.

Namibian diamonds are of great quality, with the highest average value per carat in the world, Namibia Desert Diamonds (Namdia) general manager of sales and marketing Lelly Usiku said last week during an orientation session. 

SuperSport has unveiled an all-new app for sport fans, supplementing the network’s broadcast offering.