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...
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...
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...
Rather sluggish real gross domestic product (GDP) growth for Namibia during 2Q25 at 1.6% year-on-year (y/y) may not be the results expected. However, it may lay the foundations for more resilient, inclusive and sustainable expansion in the near-term. The latest domestic GDP figures indicate a slowdown from 2.8% y/y in 1Q25 and 3.3% y/y in...
The colossal N$270 million investment into the much-anticipated Goreangab Mall by homegrown Namibian developers, Oryx Properties Limited and Safland Property Group, is set to transform communities on the fringes of Katutura. The new mall, scheduled to open in May next year, is providing significant opportunities through construction labour, permanent jobs as well as access to...