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Bank Windhoek’s managing director Baronice Hans said the bank remains firmly committed to promoting sustainable solutions in all its financing and investment decisions around the oil and gas value chain. She made these remarks when industry leaders gathered last week in Windhoek for the 7th Namibia International Energy Conference, where they reaffirmed the country’s ambition...
BEIJING – China’s top leaders on Friday pledged to step up support for the economy and oppose “unilateral bullying” in global trade in a veiled rebuke of hefty tariffs imposed by United States president Donald Trump. The world’s two largest economies are engaged in a high-stakes’ trade war that has spooked markets and spurred major...
The National Petroleum Corporation of Namibia (Namcor) and its joint venture partners have made a significant discovery off the southern coast of Namibia by detecting a high-quality light-oil-bearing reservoir. The joint venture partners will now turn their attention to post-drilling analysis to determine the next steps of its exploration strategy. Namcor is a joint venture...
The Namibia Airports Company (NAC) has warned the public of some unscrupulous persons posing themselves as NAC employees, representatives or agents with ulterior motives to earn wrongful gain or cheat the public at large. The fraudsters are deceitfully offering jobs online on certain websites and through telephone calls for a “regions vacancy post”. “We wish...
Prices for petrol and both diesel variants will remain unchanged in the country during May 2025, as crude oil prices for April 2025 declined mainly due to increased global supply and weakened demand outlook. The prices in Walvis Bay will remain N$20.67 per litre for petrol, N$20.62 for diesel 50ppm, and N$20.72 for diesel 10...
In continuous efforts to uphold its mandate of emancipating the economy, the Namibia Industrial Development Agency (NIDA) engaged stakeholders from various financial organisations in Windhoek on 25 April. The event brought together various key stakeholders from institutions such as banks and financial organisations in Namibia and South Africa. It further served as a platform to...
The World Bank’s most recent figures indicate that sub-Saharan African growth is expected to reach 3.5% in 2025, and further accelerate to 4.3% in 2026-2027. This is while global public debt continues to rise to historic levels, amidst intensifying fiscal pressures. The World Bank (WB) has attributed Africa’s economic persistence to increased private consumption and...
Despite ongoing global economic uncertainty, Namibia’s financial system remains stable and sound, director of financial stability and macro-prudential oversight at the Bank of Namibia Florette Nakusera said. Speaking at the Financial Stability report’s launch yesterday, she gave the assurance that the domestic financial system has weathered recent global shocks, and continues to demonstrate resilience. “Domestically,...
Recent changes in government and the reconfiguration of administrative responsibilities, had resulted in the Ministry of Information and Communication Technology (MICT) resuming its oversight of Telecom Namibia. Given this, Telecom Namibia’s board of directors and executive management, joined by its subsidiary’s (Powercom) board and executive team, met ICT minister Emma Theofelus, on Wednesday at the...
Even though the country received the best rains in decades, there are no immediate plans by either the Namibia Water Corporation (NamWater) nor the City of Windhoek (CoW) to reduce the price of water. The reasoning is that the water price is determined by economic factors comprised of treating, conveyance and distributing the resource. Responding...