PARIS – The world is falling short of a global agreement to triple renewable energy capacity by 2030 but the target is within reach if governments take policy actions, the International Energy Agency (IEA) said yesterday. With China and solar energy leading the charge, renewables are set to meet almost half of global electricity demand...
The Global Credit Rating (GCR) agency recently affirmed a stable outlook for Bank Windhoek. This is as the ratings agency affirmed the bank’s Namibian long and short-term national scale issuer ratings AA(NA)/A1+(NA), respectively. At the same time, the South African long-term issuer rating has been affirmed at A(ZA). The international scales and definitions of AA,...
Following the conclusion of the Windhoek Show on 5 October 2024, Zimbabwean exhibitors expressed eagerness to enter the Namibian market while acknowledging significant barriers that could complicate their efforts. Local businesses in sectors such as leather and jewellery are well established, creating a competitive landscape that may challenge new entrants. Harald Schmidt, executive vice president...
The Financial System Stability Committee (FSSC) has recommitted to maintaining a high level of vigilance and to carefully monitor risks as well as steer the course to address any emerging risks in the domestic financial system. The FSSC, which was established by and operates within the ambit of the Bank of Namibia, recently concluded that...
The Capricorn Foundation reaffirmed its commitment to job creation and economic advancement by extending its partnership with the Women at Work Training Centre. The Foundation donated N$350 000 to the Centre, which will be used to train young women and men in basic hospitality skills courses. The Women at Work Training Centre offers practical skills...
In what is described as a groundbreaking move to upskill and empower Namibia’s creative professionals, Ogilvy Namibia recently launched its Ogilvy Academy in partnership with the Red & Yellow Creative School of Business at an event at the Multichoice Auditorium. With over 30 years of experience in the marketing, advertising and communications, Ogilvy Namibia said...
Namibia is facing severe challenges in its foreign direct investment (FDI) landscape,as recent reports indicate a notable decline in net FDI inflows during the second quarter of 2024. This downturn, amounting to a decrease of N$7.2 billion year-on-year and N$3.9 billion quarter-on-quarter, has brought net inflows down to N$8.5 billion. FDI refers to an ownership...
LONDON – World oil prices rallied more than 2% yesterday as tensions escalated in the crude-rich Middle East one year after the deadly Hamas attacks on Israel. European stock markets mostly rose after more big gains in Asia as China’s stimulus boost, a strengthening US economy and the outlook for interest rates in major economies...
WASHINGTON – US Trade Representative Katherine Tai defended stiff tariff hikes against countries like China, arguing that paired with investment, they were a “legitimate and constructive” tool for re-invigorating domestic industries. Tai’s comments to AFP come a week after sharp tariff increases on Chinese electric vehicles, EV batteries and solar cells took effect – with...
MTC Maris is a mobile phone-based money transfer and payments service. The service was launched last week by Windhoek General Administrator (WGA), the financial technology arm of MTC that operates independently from its parent company. The new service allows users to deposit, withdraw, transfer money and pay for goods with a mobile device. Maris, meaning...