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Namibia Must Consider Nuclear Energy— Ndaitwah
By: Justicia Shipena Vice President Netumbo Nandi-Ndaitwah says Namibia should explore potential benefits from downstream nuclear value chain activities, as the country solidifies its position as a key supplier of uranium. Speaking at the 11th edition of the Mining Expo and Conference, Nandi-Ndaitwah emphasised that Namibia should consider how the application of nuclear technologies […]
Global Demand to Negatively Impact Namibian Mining Sector
By: Staff writer Namibia’s mining sector will be negatively affected by weak global demand, particularly impacting growth for diamonds and zinc. This comes as global economic growth is projected to slow down to 3.2% in 2024, from 3.3% in 2023. The Bank of Namibia anticipates that uranium production will be constrained by strip-mining activities […]
Domestic Investors Lend N$120 Billion to Government
By: Nghiinomenwa-vali Erastus At the end of July 2024, the government had borrowed a cumulative N$120 billion from private investors through the issuance of Treasury Bills and internally registered bonds in the domestic market. This debt includes N$80 billion from domestic bonds and N$40 billion from Treasury Bills. The Bank of Namibia, which borrows […]
Housing Crisis: 120,000 Queue up for NHE Houses
By: Justicia Shipena The Namibia Housing Enterprise faces an uphill challenge to deliver houses to more than 120 000 applicants on its waiting list. This figure was disclosed by NHE Chief Executive Officer Gisbertus Mukulu during an information-sharing session with the Ministry of Information and Communication Technology. NHE’s backlog is widespread, with 33,000 people […]
Ongos Sports Stadium Project to Cost N$2 Billion
Staff writer The Ongos Valley Sports Stadium Development is estimated to cost N$2 billion, Khomas governor Laura McLeod-Katjirua has said. The project, which is expected to accommodate about 30,000 spectator seats, was launched this year in the Moses Garoeb constituency. “This development is poised to become a beacon of pride, equipped with state-of-the-art facilities designed […]
June Records Improved Export Earnings and Trade Deficit
By: Justicia Shipena Namibia recorded a notable improvement in trade performance in June 2024 with a 37.4% increase in export earnings, rising from N$9.4 billion in May 2024 to N$12.9 billion. According to the Namibia Statistics Agency (NSA), this surge was driven primarily by the mining and quarrying sector, which contributed significantly to the […]
Business Sector Sees 0.5% Year-on-Year Growth in June
By: Staff writer The business sector experienced a 0.5% year-on-year (y/y) growth in June, a significant slowdown from the 4.7% y/y recorded in May 2024, yet still above 2023 levels. Analysis from Simonis Storm Securities’ Halleluya Ndimulunde reveals this as the second slowest credit growth uptake for corporates in 2024. Ndimulunde attributed this declaration to […]
Naloba Appeals to Mbumba to Cancel Local Businesses’ Tax Debts
By: Justicia Shipena The Namibia Local Businesses Association (Naloba) has appealed to President Nangolo Mbumba to pardon all local businesses’ tax debts, allowing them a fresh start. This plea was made during a meeting at State House late Wednesday afternoon, aiming to address critical issues affecting the country’s economy and the livelihood of its […]
AgriBusDev Staff Cry Foul Over Unresolved Job Placements
By: Hertha Ekandjo Employees of the Agricultural Business Development Agency (AgriBusDev) have raised concerns regarding the uncertainty surrounding their placement into the Ministry of Agriculture, Water, and Land Reform. This follows the Cabinet’s 2022 decision to terminate AgriBusDev’s role as the operator of the country’s green schemes. In a letter dated 23 July 2024, […]
Private Sector Offers N$3.1 Billion for Government Debts
By: Nghiinomenwa-vali Erastus Over the past week, the private sector has submitted several bids totaling N$3.1 billion to lend money to the government through bonds and Treasury Bills (TB). This information is based on the auction results for 14 bonds held on July 24, 2024, and the four TB auctions held on July 25, […]