When finance minister Iipumbu Shiimi tabled the 2022/23 national budget last week, he said the budget deficit is projected to reduce to about 5.6% of GDP in the coming financial year.
Business
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N$53bn in revenue possible from oil discoveries
The mines and energy ministry last week confirmed the discovery of light oil in the Venus well of the joint venture between TotalEnergies (40%), QatarEnergy (30%), Impact Oil and Gas (20%) and the National Petroleum Corporation of Namibia (10%).
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Namibia pursues energy independence
Government is pursuing energy independence from a troubled Eskom and from the rest of its neighbouring countries in an effort to reduce the cost of electricity and thereby attract more meaningful investment.
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DBN passes N$1 billion mark for renewable energy…Rosh Pinah Solar Park to power mine, reduce greenhouse gas emissions
The Development Bank of Namibia (DBN) signed an agreement on Friday, 25 February 2022 to finance a solar park at Rosh Pinah. With this latest agreement, the DBN’s commitment to the field of renewable energy amounts to N$1.038 billion, encompassing finance for 87.9 MW from 13 projects.
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B2Gold’s Jumpstart fosters innovation and entrepreneurship
Last week, a unique blend of young entrepreneurs, seasoned senior executives and finance experts gathered for the B2Gold Jumpstart Pitch Event. Invited guests witnessed six startup talents participating in the Jumpstart incubation programme funded by B2Gold Namibia.
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BIPA delivers despite recessionary year
Despite another recessionary year, the Business and Intellectual Property Authority (BIPA) delivered a strong financial performance, declaring a surplus of N$17 million, doing particularly well in its efforts to collect outstanding annual duties.
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PDM proposes informal sector association
Popular Democratic Movement (PDM) parliamentarian Johannes Martin on Wednesday tabled a motion in the National Assembly for the House to debate the establishment of an association for the informal sector.
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Oil discovery can be ‘game-changer’…as Namcor confirms second discovery in Orange Basin
A second confirmed discovery of oil off the Namibian coast has the potential to substantially impact the domestic economy for the better.
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Opinion – Optimism about Model Law on PFM …legislation expected to bolster existing checks and balances
Many countries have signed up to regional and international instruments to improve the living standards of their citizens.
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Investment giants set to convene at Swakopmund
Various pension funds and several international and local leading institutions will again come together to discuss Namibia’s economic growth through alternative investments.