By: Nghiinomenwa-vali Erastus Despite the flurry of statements from political leaders in key government offices and parliament emphasising the importance of agriculture, the sector still continues to be hugely neglected in the national budget. This year, the Ministry of Agriculture, Water, and Land Reforms has described its budgetary allocation as “worrisome” in the face of […]
By: Nghiinomenwa-vali Erastus Namibia’s electricity import from Zambia has been reduced by 60MW, dropping from 180MW to 120MW, following Zambia’s announcement of power cuts and export limits due to drought conditions affecting its hydropower generation. Zambia, traditionally the largest electricity supplier to Namibia since the decline in South African supply, has faced challenges due […]
By: Nghiinomenwa-vali Erastus Namibia’s burgeoning oil and gas exploration sector, which has attracted investments valued at over N$33 billion between 2021 and 2023, has raised concerns due to its limited contribution to local firms. Merely 10% of exploration expenditure has benefitted domestic companies, with the bulk of investments flowing abroad. The oil and […]
By: Nghiinomenwa-vali Erastus The City of Windhoek has issued a warning, indicating that due to water supply challenges in the central region, it will soon be compelled to declare a state of severe water scarcity, categorised as Category D in their water demand management strategy. Category D status signifies that demand can only […]
By: Nghiinomenwa-vali Erastus The newly enacted Banking Act empowers the Minister of Finance and Public Enterprises to regulate fees and charges imposed by banking institutions on their customers. This was revealed in the 2023 annual report of the Bank of Namibia. According to the central bank, complaints regarding exorbitant fees and charges levied […]
By: Nghiinomenwa-vali Erastus By the end of December 2023, the average or most common house on the market cost N$1.21 million, slightly higher than the N$1.19 million recorded during the corresponding period in 2022. This was revealed by the FNB in its latest House Price Index. House prices vary across regions, with the […]
By: Nghiinomenwa-vali Erastus Various industries such as oil and gas, as well as green hydrogen, planned for the //Karas Region, with many centred around the Lüderitz local authority, are poised to elevate Namibia’s diversification efforts. During his visit to the southern region, Bank of Namibia governor, Johannes !Gawaxab, acknowledged this significant potential. President […]
By: Nghiinomenwa-vali Erastus The Bank of Namibia’s recent annual report paints a troubling picture of the country’s economic landscape, with non-performing loans (NPLs) reaching N$6.5 billion by the end of 2023. Of these loans, 51% are attributed to individuals, while the real estate and business service sector accounts for 11.8%. The increase in […]
By: Nghiinomenwa-vali Erastus The 40th anniversary Doc Volleyball Tournament showcased the vibrancy of the sport economy, with 35 teams competing across men’s and women’s categories, totaling 487 players. Hosted by the Namibian Volleyball Federation (NVF) at The Dome in Swakopmund last weekend, the event, primarily sponsored by Bank Windhoek, distributed N$52,000 among the […]
By: Nghiinomenwa-vali Erastus Numerous tourism stakeholders are expressing growing concern over rhino poaching and are urging intensified efforts to protect the endangered wildlife and enhance conservation endeavours. This call comes after 28 rhinos were poached from national parks and private farms across the country within a span of three months. Shapaka Mwatile, the […]