Namibia’s Gross Domestic Product (GDP) shows growth of 2.8% in the third quarter of the year, up from 2.7% in the previous quarter. The Namibian Statistics Agency (NSA) indicated the economy’s size in the third quarter of 2024 reached N$61.6 billion, marking an increase of N$5.3 billion compared to the N$56.3 billion recorded in the […]
Mines and Energy Minister Tom Alweendo underscored the importance of not identifying the oil and gas industry as the sole driver of economic transformation or job creation. Speaking at the launch of the National Industrial Baseline Survey, Alweendo pointed out that by the time the sector begins production, the direct employment generated could be minimal. […]
TransNamib has secured a N$2,6 billion loan from the Development Bank of Southern Africa and the Development Bank of Namibia, which will be used for its capital projects to unlock corridor capacity and address maintenance issues of its locomotives. TransNamib CEO Desmond Van Jaarsveld says although the funds are secured, they will not access them […]
The Windhoek High Court is set to deliver a judgement in which Namibia’s retail giant, Pick n Pay, seeks to overturn a 2023 arbitrator’s award. The company reached an agreement with the Namibia Food and Allied Workers Union in 2019 concerning salary increments and employment benefits for permanent workers in Grades 1 to 6A bands. […]
The Bank of Namibia (BoN) and the Communications Regulatory Authority of Namibia (CRAN) will strengthen regulatory cooperation following the signing of a new Memorandum of Understanding aimed at enhancing collaboration in regulating the telecommunications and financial sectors. The agreement replaces the 2016 MoU and addresses key areas such as mobile money, SIM card registration, cybersecurity, […]
Namibia, one of the countries in Africa with the most developed road infrastructure, continues to make significant progress in enhancing its road network. Today, the Roads Authority officially opened a 10-kilometre stretch of the Hage G. Geingob freeway leading to the Hosea Kutako International Airport to ensure smooth accessibility and reduce traffic congestion. The project […]
European Union Ambassador Ana Beatriz Martins says the EU and Namibia relations have evolved significantly over the year in a way that stimulates economic growth and creates jobs for both. She added that relations have changed from traditional development cooperation-based dynamics to a partnership of equals based on trade, investment, and sustainable development. Martins said […]
Bank of Namibia Governor, Johannes ǃGawaxab, has urged banks to follow requirements and develop effective responses to cyberattacks or hacks. While outlining the central bank’s preparedness for such incidents, ǃGawaxab emphasised that these attacks are inevitable.
The repo rate has reduced by 25 basis points to seven percent. During the final monetary policy meeting of the year, Bank of Namibia Governor Johannes ǃGawaxab says the move is aimed at supporting domestic economic activity while maintaining the stability of the dollar, which remains pegged to the South African Rand. !Gawaxab noted that […]
Germany will allocate N$380 million to support Namibia’s efforts in closing infrastructure and technical capacity gaps, particularly in urban and peri-urban areas. The funds will focus on formalizing land ownership and ensuring decent housing for residents in informal settlements. The Namibia Planning Commission has signed three agreements with Germany to support key development projects. A […]
