ON THE RADAR WITH HAPPY (19 FEBRUARY 2025)
1. Nearly half a million Namibians have bank loans, but for many, keeping up with repayments is becoming an uphill battle. Data from the Bank of Namibia shows that overdue debt—loans that haven’t been paid for more than three months—now stands at a staggering N$3.7 billion.
2. Robert McGregor, Head of Research at Cirrus Capital, says the problem of non-performing loans—loans that haven’t been paid for extended periods—has been a growing issue for years. “This didn’t start with Covid-19, but the pandemic made it worse.”
3. Namibia’s oil potential continues to make waves as Rhino Resources, an exploration company specializing in low-cost energy solutions, confirms the presence of hydrocarbons at its Sagittarius-1X exploration well in Block 2914 of the Orange Basin.
4. In more energy news and as the world races toward cleaner energy solutions, experts gathered for a webinar on to discuss nuclear energy as a key player in the global transition to low-carbon power. The webinar sparked discussions on how nuclear energy can drive sustainable development.
5. The government will not provide transportation for citizens attending memorial services for Namibia’s founding president across the country, ICT Minister Emma Theofelus has clarified.
6. Meanwhile, at the memorial service of the late Founding President Sam Nujoma at his residence in Windhoek, Governor of the Bank of Namibia, Johannes !Gawaxab, paid tribute to his legacy.
