A discovery of rich-gas condensate by Namcor and partner marks the third consecutive hydrocarbon discovery on the exploration block. The significant discovery brings Namibia closer to transforming its energy sector, creating jobs, building capacity and securing a brighter future for future generations. The National Petroleum Corporation of Namibia (Namcor), together with its joint venture partners...
Vice President Lucia Witbooi on Wednesday officially opened the new Model store at Auas Valley in Windhoek, describing it as a milestone in Namibia’s retail sector. The store, constituting a multi-million-dollar investment for parent company Olthaver & List (O&L), previously operated under the Pick n Pay franchise before being rebranded to Model this year. The...
The Namibia Sustainable Finance Alliance (NSFA) was launched on Tuesday as a voluntary, multi-stakeholder platform through which regulators, financial institutions, industry associations and government agencies will coordinate efforts to mainstream and champion sustainable finance. The alliance was launched at its inaugural meeting at the Bank of Namibia together with leading financial institutions, regulators and industry...
Since the end of September 2025, the latest series of upgraded banknotes and new coins, which were introduced by the central bank earlier this year, have been available at commercial banks and ATMs countrywide. The Bank of Namibia officially issued the upgraded Namibia Dollar banknotes and the new coinage series into circulation at a ceremony...
The Development Bank of Namibia’s Board of Directors, in consultation with the finance minister, has announced the five-year appointment of Titus Ndove as CEO, effective 1 November 2025. The Board stated it is confident Ndove has the competence and experience required to drive the DBN’s Integrated Strategic Plan. Ndove has over twenty years of experience...
African airlines saw a 7.1% year-on-year increase in demand in August 2025, while capacity was up 5.3% year-on-year. The load factor was 79.7%, a 1.3 percentage point (ppt) improvement compared to August 2024. These figures are contained in the latest date for August 2025 global passenger demand from the International Air Transport Association (IATA). On...
The central bank has commented on Namibia’s economy slowing in the second quarter of 2025, held back by weak performances in manufacturing, fishing, and agriculture. A report from the Bank of Namibia show that the economy grew by 1.6% in real terms, down from 3.3% in the same period last year and 2.8% in the...
Air traffic control (ATC) authorities around the world continue to face challenges with messaging systems that are limited in their capabilities, operationally demanding, and slow to adapt to modern needs. These limitations can make it harder to coordinate across borders and keep pace with growing traffic demands. With the launch of SITA ATC Bridge, an...
Young Namibian innovators have introduced an innovative development for the domestic digital economy by introducing an online logistics platform designed to connect empty trucks with available loads. Called Londeka, the platform directly tackles one of the industry’s greatest challenges, namely empty trucks traveling long distances. Through the platform on www.londeka.com, truck drivers can receive cargo,...
HONG KONG – Gold hit another record yesterday, while equity markets were mixed as traders prepared for a possible US government shutdown that could affect the release of key economic data, though hopes for more Federal Reserve interest rate cuts provided support. A string of closely watched indicators has recently supported investor expectations that the...