Search in the website:
Business
Second Lowest Pork Imports Recorded in October
By: Nghiinomenwa-vali Eratus Namibia recorded its second-lowest pork imports of the year in October 2024, with only 35,734 kilograms of pork products brought into the country. This significant reduction has been attributed to an increase in local pork production and shifts in consumption patterns, according to the Livestock and Livestock Products Board of […]
N$58.4 Million License Fees Drive MTC’s Earnings Down
By: Justicia Shipena The Mobile Telecommunications Company (MTC) has reported a decrease in its annual earnings for the current financial year, largely attributed to “extraordinary regulatory costs”, including the settlement of annual license fees totalling N$58.4 million. This was revealed by MTC’s Chief Executive Officer Licky Erastus during the company’s annual financial performance […]
Borders Closed for Most Vegetable Imports This Month
By: Loise Shiimi The Namibian Agronomic Board (NAB) has announced that the country’s borders will be closed to nearly all vegetable imports throughout December. From 1 to 31 December, the importation of 15 out of 20 specially controlled crops is prohibited. Only one crop, sweet potatoes, can be imported without restrictions, while four […]
Namibia’s Exports Decline While Imports Surge
By: Kavee Vezemburuka Namibia’s export revenue for October 2024 declined by 3.8%, falling to N$8.7 billion from the N$9.0 billion recorded in September, as detailed in the Namibia Statistics Agency’s latest Merchandise Trade Statistics Bulletin. On the other hand, the country’s import bill increased by 11.5% to reach N$16.5 billion, up from N$14.8 […]
Choppies Fined N$2,2 Million for Backdoor Acquisition of Supermarket
By: Nghiinomewa-vali Erastus The Namibia Competition Commission has fined Choppies Retailer N$2.2 million for acquiring Grootfontein Supermarket and Grootfontein Bottle Store without notifying the regulator. Choppies was fined after the Commission’s investigation found that they contravened Section 44 read with Sections 51 and 53 of the Competition Act. According to NaCC, Choppies and […]
Minister Urges Small Businesses to Expand and Capitalise on the AfCFTA
By: David Shoombe Minister of Industrialisation and Trade, Lucia Iipumbu, has called on local entrepreneurs to expand their businesses and seize opportunities within the African Continental Free Trade Area (AfCFTA). Speaking at the handover ceremony of the Equipment Aid Scheme (EAS) to business owners from the Khomas, Otjozondjupa, and Omaheke regions on Monday, […]
Africa Advised to Ditch US Dollar to Reduce Cross-Border Trade Costs
By: Nghiinomenwa-vali Erastus In a recent interview with Bloomberg Africa, a Standard Bank Group analyst highlighted that intra-African trade could see significant improvements if African nations eliminate the US dollar from their cross-border transactions. Tunde Macaulay, head of business and commercial banking for Africa and offshore regions at Africa’s largest bank, suggested that […]
NWR to Repurpose Hardap Dam Resort due to Declining Occupancy
By: Hertha Ekandjo Namibia Wildlife Resorts (NWR) is set to transform its Hardap Dam Resort into a Conference Lodge after experiencing a dramatic drop in occupancy this year, marking one of the lowest levels in recent years. This shift aims to repurpose the facility for business and corporate events, given the dwindling number […]
Food Inflation Declines Sharply in October 2024
By: Hertha Ekandjo The annual inflation rate for food and non-alcoholic beverages in Namibia slowed to 5.1% in October 2024, down significantly from 9.4% in October 2023, according to the Namibia Consumer Price Index (NCPI). This category, which represents 16.5% of the NCPI basket, saw only a slight monthly increase of 0.3%, unchanged […]
Namibia’s Export Earnings Rise by 2.9% in September 2024
By: Hertha Ekandjo Namibia’s export earnings increased by 2.9% in September 2024, reaching N$9.0 billion, up from N$8.7 billion in August. This was revealed in the latest Namibia International Merchandise Trade Statistics Bulletin released by the Namibia Statistics Agency (NSA). However, imports surged by 20.5% in September, totaling N$14.8 billion compared to N$12.3 […]