When the recently- tabled national budget is unpacked, it emerges that only 12% of the allocated funding directly goes into building the roads, schools, hospitals, water, electricity and rural infrastructure. These are items that Namibians need most, said Swapo parliamentarian Fenny Nanyeni. She urged that Namibia should ensure its borrowing decisions directly support capital formation,...
MASERU – Lesotho on Monday granted a licence to tech billionaire Elon Musk’s Starlink satellite internet service, hours after denying it was fast-tracking the process as part of United States (US) tariff concessions. The small African kingdom was hit this month with tariffs of 50% on goods exported to the US – the highest for...
Amid growing trade tensions, the International Air Transport Association (IATA) has reinforced its position that trade drives prosperity, and that any measures undermining the free flow of goods ultimately hurt businesses, consumers and economies. “Current trade tensions are deeply concerning. Trade drives prosperity. The more the world trades, the better off we all are. So,...
BEIJING – The world’s leading maker of electric vehicle batteries, Chinese firm CATL, posted a 32.9% jump in first quarter profit, even as demand for electric vehicles slows. The firm produces more than a third of all electric vehicle (EV) batteries sold worldwide, cooperating with major brands including Tesla, Mercedes-Benz, BMW and Volkswagen. Founded in...
The Government Institutions Pension Fund (GIPF) has announced a pension benefit increase of 4%, effective 1 April 2025 for all GIPF pensioners, qualifying annuitants, spousal and child beneficiaries. Pensions in payment or deferment for less than a year as of 31 March 2025 preceding the increase date will receive an increase on a pro-rata basis. ...
President Netumbo Nandi-Ndaitwah will officially open the 2025 edition of the Namibia International Energy Conference (NIEC). Organisers of the conference this week confirmed Nandi-Ndaitwah will be on hand to open the event that aims to lay the foundation for Namibia as an energy hub. “We are deeply honoured that Her Excellency, the President of the...
Canadian oil and gas explorer Reconnaissance Energy Africa (ReconAfrica) has provided a drilling update on what the company’s leadership calls its largest and most attractive well, known as Prospect I. Prospect I is located onshore Namibia in Petroleum Exploration Licence 073. It is ReconAfrica’s largest prospect to be drilled so far. With this exploration...
SWAKOPMUND – The Ministry of Industries, Mines and Energy (MIME) has embarked on a crucial four-day strategic retreat in Swakopmund. It is aimed at defining its direction for the next six years, and reinforcing its commitment to national development. The retreat is focused on crafting MIME’s 2025/26–2030/31 strategic plan and the annual plan for 2025/26,...
Domestic inflation is expected to remain elevated but relatively contained. In its latest consumer price index analysis, FNB stated it expects transport inflation to stay muted, amid subdued demand and ongoing geopolitical uncertainty. However, the analysis compiled by FNB economist Helena Mboti expects housing and utilities’ inflation to remain high due to an expected increase...
In recent years, financial inclusion has taken centre-stage as a key driver of economic growth, poverty reduction and prosperity. In this regard, deposit insurance schemes are among the key vehicles through which financial inclusion is enhanced. This was the sentiment expressed last week by Michael Humavindu, executive director in the finance ministry, at release of...