In the ongoing United States-China trade war, Chinese customs officials revealed new developments that emphasise the rising tensions between the two global economic giants. Wang Lingjun, China’s vice minister of the general administration of customs, last week confirmed that the Asian giant has taken decisive steps in response to Trump’s trade tariffs by pointing out...
Bank Windhoek’s new cutting-edge handheld Point-of-Sale (POS) device has been designed to improve payment processing for small and medium enterprises (SMEs). The bank said this payment solution will streamline SMEs’ operations, enhance customer experiences and enable seamless transactions on the go, further strengthening a commitment to supporting this important segment of the domestic economy. Bank...
Rudolf Gaiseb The Ministry of Industry, Mines and Energy (MIME) has motivated a proposed N$56.3 million for the development of the Baynes Hydro power Station. If approved, this budget is expected to enable electricity to flow through powerlines in both Angola and Namibia by 2031. This means the Namibian government is expected to soon embark...
A leading economist in the country has called the Bank of Namibia’s decision to commence gold accumulation as part of its foreign exchange reserve management strategy as “long-overdue”. The central bank last week announced the decision to include gold, targeting 3% of net foreign exchange reserves, saying it aligns with global central banking trends, given the...
United Airlines this week announced an investment in Twelve, an innovative low-carbon fuels company that uses a process similar to photosynthesis to transform Carbon Dioxide (CO2) and water into sustainable aviation fuel (SAF) using renewable energy. This investment by the United Airlines Ventures Sustainable Flight Fund follows Twelve’s US$83 million (about N$1.5 billion at current...
In a continued commitment to redefine the Namibian travel experience, the Ohlthaver & List (O&L) Group acquired two new aircraft, elevating access to its premier O&L Leisure destinations for both Namibian and international guests. In addition to the Beechcraft 1900 V5-SAN (a 14-passenger twin-engine turboprop ideal for group travel) and the Cirrus SR22 V5-SGB, the...
The National Petroleum Corporation of Namibia (Namcor), in conjunction with its joint venture partners Impact Oil and Gas, Qatar Energy and TotalEnergies, remains committed to finding a path to develop the Venus Field in Block 2913B (PEL 56). In a recent statement, Namcor noted that exploration of another prospect, Marula-1X, was unsuccessful. “As partners, we...
A notable acceleration in corporate credit uptake has resulted in domestic private sector credit extension (PSCE) growing by 5% year-on-year (y/y) in March 2025, up from the 3.9% y/y recorded in February. This marks the strongest pace of credit expansion in five years. Corporate credit constitutes approximately 50% of total domestic credit extended. This increased...
SAN FRANCISCO – OpenAI CEO Sam Altman on Monday said the company behind ChatGPT would continue to be run as a non-profit, as it abandoned a highly-contested plan to turn into a for-profit organisation.The issue had become a serious point of contention for the artificial intelligence trailblazer, with major investors demanding the change to better...
Namibia’s ambitious green hydrogen project in the heart of the Dorob National Park, the Daures Green Hydrogen Village, aims to boost the domestic economy and contribute to the global green fertiliser market by exporting an anticipated 352 000 tonnes of fertiliser by next year. Meanwhile, the project’s hydrogen output has notably increased compared to its...