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NIPDB Claims Billions in FDI Would Be Zero Without Its Role
By: Justicia Shipena The Namibia Investment Promotion and Development Board (NIPDB) claims that Foreign Direct Investment (FDI) over the last three years would have been nonexistent without its intervention. “For the past three years, FDI has reached billions, higher than any year since 2009,” said NIPDB CEO, Nangula Uaandja. She revealed that in […]
World Bank Appoints First-Ever Joint Resident Representative in Namibia
By: Dolly Menas The World Bank Group has appointed Mariama Cire Sylla as its first-ever joint Resident Representative for Namibia, effective October 1, 2024. This newly created position aims to consolidate the World Bank Group’s services, offering a unified approach to addressing the country’s development needs. A Guinean national, Sylla brings over […]
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 […]
!Gawaxab Urges Namibia to Take Lead in Green Hydrogen Development
By: Justicia Shipena Bank of Namibia (BoN) Governor, Johannes !Gawaxab, has emphasised that Namibia must not become a mere bystander in its own green hydrogen development. Speaking at the Global African Green Hydrogen Summit, !Gawaxab urged Namibian banks and financial institutions to take an active role in combating climate change and supporting the […]
Manufacturing Sector Records Exports Worth N$5.6 Billion in July
By: Hertha Ekandjo The manufacturing sector led the country’s exports in July 2024, with goods worth N$5.6 billion, contributing 55.9% of the total exports. This marks an increase of N$160 million compared to June 2024. Following the manufacturing sector, the mining and quarrying sector accounted for 39.0% of total exports, despite experiencing […]
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 […]
Telecom Seeks Ban on Second-Hand Copper Trade
By: Justicia Shipena Telecom Namibia’s CEO, Stanley Shanapinda, announced that discussions are underway to ban the second-hand trade of copper and to impose stricter penalties for related offences, including higher fines and longer prison sentences. The initiative comes in response to the ongoing theft of copper cables, which Shanapinda says is severely disrupting […]