Africa’s economic performance is showing signs of improvement but remains vulnerable to global shocks, according to the 2025 Macroeconomic Performance and Outlook (MEO) report released by the African Development Bank on Friday. The report, unveiled on the sidelines of the 38th Ordinary Session of the African Union Assembly in Addis Ababa, projects real GDP growth...
United Arab Emirates’ (UAE) clean energy leader Masdar, the decarbonisation arm of 2PointZero EPointZero and TotalEnergies, have signed a Framework for Action (FFA). The agreement will drive access to clean energy in emerging markets and developing economies in Africa and Asia. 2PointZero is a transformational global investment platform. The agreement follows UAE president Sheikh Mohamed...
On the sidelines of the 38th African Union Summit, African leaders discussed obstacles to the continent’s economic integration, underscoring visa-free movement to reduce illegal migration and strengthen official travel channels. The high-level dialogue, convened by the African Development Bank Group and the African Union Commission alongside the AU Summit, brought together trade ministers and business...
Responding to a massive public outcry on the persistent increase in electricity tariffs, government last year lent a much-needed helping hand and provided N$365 million subsidy for 2024/25. This injection of capital relief was intended to ease the rapidly-escalating cost of living for struggling Namibians. However, Electricity Control Board CEO Robert Kahimise yesterday disclosed that...
BEIJING – Chinese president Xi Jinping yesterday said challenges facing the country’s embattled private sector were “surmountable”, as he met with top business leaders, including Alibaba co-founder Jack Ma. Since coming to power more than a decade ago, Xi has strengthened the role of state enterprises in the world’s second-largest economy, and waged crackdowns on...
Short-term insurer Hollard Namibia last week launched its new car and home insurance offering at a function in Windhoek. Titled ‘No. 1 recognises No. 1’, the function profiled Hollard’s new product line and featured a discussion with Tatjana Smith, one of the world’s top female swimmers. Following a minute of silence in respect of the...
Namibia Breweries Limited (NBL) has launched Windhoek beer in the Kenyan market. This strategic move marks a significant milestone in NBL’s ongoing efforts to expand its footprint, export its premium products, and develop its business across new markets. Windhoek beer, the iconic brand of NBL portfolio, renowned for its exceptional quality and rich heritage, is...
Windwise Turbines Namibia, the first wind turbine manufacturer in the country, has taken a step towards advancing local skills and expertise in renewable energy. Last week, the company sent its first cohort of five Namibian engineers for a six-month training at the SARETEC wind turbine training centre in Cape Town, South Africa. According to a...
Bank of Namibia governor Johannes !Gawaxab stated that Namibia’s Welwitschia Sovereign Wealth Fund’s current balance has reached N$453 million. The Welwitschia Fund, which was launched in May 2022, commenced with an initial capital investment of around N$262 million. The governor made these remarks last week during the repo rate announcement in Windhoek. The Sovereign Wealth...
NEW YORK – A flood of presidential trade policy announcements has kept US automakers on edge since Donald Trump returned to the White House last month. While some signature threats – like 25% tariffs on Mexico and Canada – have been wielded and then paused, Trump’s multi-pronged assault on the international trade order is building...