WASHINGTON – The US rating agency Fitch on Friday downgraded Kenya’s credit rating, following its president’s decision to scrap key measures of a controversial finance bill in the face of strong public opposition. Kenyan president William Ruto cancelled a raft of planned tax hikes in late June after the rallies that were initially peaceful, held...
VOUZIERS – As a deadline to phase out new combustion engine cars nears, workers in the industry worry their days might be numbered too. While there is plenty of optimism in certain regions of France, in particular in the north of the country, where a “Battery Valley” is emerging, workers at parts suppliers elsewhere are...
UNITED NATIONS – Opponents of deep-sea mining suffered a serious setback on Friday when they failed to take a first step towards an international moratorium on the controversial practice. Until now, those in favour of such mining – which would deliver minerals key to the green transition but with a potentially high environmental cost –...
Green industrialisation is expected to establish a new growth trajectory for Namibia by addressing current structural challenges. This emerging industry is expected to deliver high-skill jobs, increased productivity, create new markets, attract foreign direct investment (FDI) and position Namibia as a climate leader. This course of action is contained in a document titled; “A blueprint...
Namibia should focus on strengthening its domestic fuel stocks to prepare for any eventuality in the face of persistently volatile international oil markets. The mines and energy ministry last week emphasised the need to strengthen the domestic shock absorption capacity “at this point” as it continues to closely monitor oil market developments, while protecting Namibian...
Vice President (VP) Netumbo Nandi-Ndaitwah has urged Namibian businesspeople to be prepared to play their role in ensuring the country reaps the benefits of the African Continental Free Trade Area Agreement (AfCFTA). AfCFTA is the world’s largest free trade area, bringing together the 55 countries of the African Union, and eight regional economic communities. The...
Construction work has resumed at the Woermann Brock (WB) supermarket in Hochland Park, where activities were stopped late on Wednesday due to unsafe working conditions. A WB official yesterday told New Era the branch is being revamped to become the latest Woermann Fresh. Moreover, a statement from an occupational health and safety inspector in the...
Government has taken issue with the lucrative fishing sector in a 2024 report from the National Planning Commission (NPC). The report focuses on Namibia’s third voluntary national review progress on the implementation of the Sustainable Development Goals towards Agenda 2030. “There is a need to strengthen and fast track all relevant governance legislation to ensure...
Telecom reached a historic milestone yesterday when it activated the Equiano subsea cable in Swakopmund. The Equiano cable system is the third private international cable owned by Google, and the 14th subsea cable invested in by Google. The cable links Namibia to Europe via Portugal, and to the rest of Africa via Cape Town and...
TotalEnergies has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary SN Power, which holds interests in renewable hydropower projects in Africa, through a joint venture (51% SN Power) with Norfund and British International Investment (BII). As a result of this transaction, which is subject to certain previous...