Despite consistently being one of the world’s top producers of uranium, Namibia still suffers from a severe power deficit by depending mainly on hydropower and purchasing electricity from neighbouring countries that are themselves facing severe shortages. This strategy has worked thus far but is clearly unsustainable and evidently overlooks the massive potential of uranium as...
DAKAR – Earlier this month, soldiers swooped by helicopter into a vast mining complex in western Mali and made away with three tonnes of gold. These were all done on the orders of the military government. The confiscation of the Loulo-Gounkoto complex, which is majority-owned by a Canadian firm, is one of the most extraordinary...
The Bank of Namibia, in collaboration with the Alliance for Financial Inclusion (AFI), have teamed up to co-host the AFI Global Policy Forum (GPF) in September 2025 in Namibia. This forum is expected to convene international thought leaders, policymakers and regulators to propel financial inclusion to the forefront of the global agenda. This is in...
Andreas Thomas Namibia has applied to the Climate Investment Fund for financing to support its ambitious plan to develop a large-scale green hydrogen production sector. Some projects are anticipated to commence production this year. Namibia’s green hydrogen commissioner James Mnyupe has confirmed to Nampa that the country has requested US$150 million, approximately N$2.8 billion, from...
Germany’s commitment to Namibia as a key partner in development cooperation was reaffirmed during a recent media engagement in Windhoek, where Thorsten Hutter, Germany’s ambassador to Namibia, highlighted the historical ties that shape this relationship. “Because of our past, Namibia is one of the development partners in terms of per capita funding. Despite Namibia being...
HANGZHOU – Chinese start-up DeepSeek, which has sparked panic on Wall Street with its powerful new chatbot developed at a fraction of the cost of its competitors, was founded by a hedgefund whizz-kid who believes AI can change the world. Based out of the eastern Chinese city of Hangzhou – sometimes known as “China’s Silicon...
The Development Bank of Namibia (DBN) has announced the return of its prestigious Innovation Award after a five-year hiatus, reaffirming a commitment to fostering innovation and economic development. Commenting on the resurgence of the awards, DBN spokesperson Jerome Mutumba revealed that this year’s winning project will receive a funding boost of N$400 000. He highlighted...
The low supply of rental properties in Windhoek is wreaking havoc on the local property market. The low supply is exacerbated by slow land delivery for new residential units, the exorbitant cost of living, and an influx of new inhabitants. A seasoned estate agent said the situation is driving some Windhoek residents to temporarily opt...
BERLIN – Eurozone rate-setters are set to cut borrowing costs again this week. They are confident that their efforts to lower inflation will remain on track despite the threat from United States president Donald Trump’s protectionist agenda. The European Central Bank is expected to cut its benchmark deposit rate by a further quarter point to...
ABIDJAN – The withdrawal of Mali, Niger and Burkina Faso from the Economic Community of West African States (ECOWAS) takes effect tomorrow after a year of political tensions, fracturing the region and leaving the bloc with an uncertain future. On 29 January 2024, the three countries, led by military regimes, formally notified ECOWAS of their...