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Finance / Page 4
More Than 600,000 Micro Lending Loans Issued in 2023
By: Nghiinomenwa-vali Erastus Registered microlending entities in Namibia issued a total of 665,290 new loans with a combined value of N$3.6 billion in 2023. This represents a slight increase of 0.8% compared to the previous year, according to the Namibia Financial Institutions Supervisory Authority (Namfisa) 2023 annual report, released last week. There are […]
Almost N$1 Billion Switched From GC25 Bond
By: Nghiinomenwa-vali Erastus Investors in the GC25 Bond, maturing in October 2025, have moved N$944.9 million of their investment into other long-term government debt instruments. This shift means some investors have chosen to extend their lending to the government, opting to receive interest payments twice a year on new bonds. The transfer follows […]
Govt Could Slash N$6.77 Billion in Bonds by 2025
By: Justicia Shipena The government is set to reduce its outstanding bonds by 2025, with N$6.77 billion currently owed on GC24, GC25, and GI25 bonds, according to a report from Simonis Storm Securities. This figure is expected to shrink further as upcoming GC25 switch auctions are held. In their report on fixed income […]
Global Food Prices Drop in August – FAO … sugar and meat costs fall
By: Justicia Shipena Global food prices saw a slight decrease in August, driven by significant drops in sugar, meat, and cereal costs, according to a recent report from the United Nations Food and Agriculture Organisation (FAO). The FAO Food Price Index, which monitors the monthly price changes of globally traded food commodities, averaged […]
Ghana Resumes Namibian Beef Imports After Long Hiatus
By: Nghiinomenwa-vali Erastus In June 2024, Ghana rejoined the list of African countries purchasing Namibian beef after a prolonged break, with some northern farmers calling the sudden stop“economic sabotage.” According to the Livestock and Livestock Board of Namibia’s July 2024 statistics, Ghana imported 22,581 kilograms of Namibian beef after a long pause. Before […]
Mbumba Welcomes Chinese Support in Agriculture Sector …As China Pledges US$51 Billion to Africa
By: FransinaNghidengwa President NangoloMbumba has called for strengthened cooperation between Namibia and China to bolster the country’s agricultural sector, emphasising the need for expertise and equipment to ensure agricultural success. Mbumba made these remarks at the ongoing Forum on China-Africa Cooperation (FOCAC) in Beijing, China. His appeal follows Chinese President Xi Jinping’s […]
Namibia Invites Indonesia to Invest in Green Hydrogen and Energy Sectors
By: Justicia Shipena Namibia has invited Indonesian investors to participate in its growing green hydrogen, oil, and gas sectors. The call was made by Environment and Tourism Minister Pohamba Shifeta, who is representing President Nangolo Mbumba at the second Indonesia-Africa Forum in Bali, Indonesia. During the forum, Minister Shifeta highlighted Namibia’s efforts to […]
Namibia Berries Refutes Claims of Paying Its Workers Poor Wages
By: Nghiinomenwa-Vali Erastus A company called Namibia Berries which is farming with blueberries in the Kavango East region has refuted claims that it has been paying its labourers a rate of N$5 per hour, well below the national minimum wage. According to Michael James, a director at the company, the actual hourly rate […]
Nam Urged to Plan According to Production Advantages
By: Hertha Ekandjo The African Development Bank (AfDB) has urged Namibia to focus on national development plans that capitalise on its comparative advantages. In its 2024 Country Focus Report titled “Driving Namibia’s Transformation: The Reform of the Global Financial Architecture,” the AfDB emphasised the need for Namibia to align its development strategies with its […]
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 […]