NAMIBIA’S WILDLIFE ECONOMY: A GLOBAL CONSERVATION SUCCESS STORY
NAMIBIA’S WILDLIFE ECONOMY: A GLOBAL CONSERVATION SUCCESS STORY Produced for the Namibian Chamber of Environment (NCE) Namibia stands as a beacon of hope and success in a world facing a biodiversity crisis. Namibia’s Wildlife Economy, a powerful new documentary series directed by Andy Botelle of MaMoKoBo Video & Research, offers an in-depth look at how […]
NAMIBIA CEMENTS ITS ROLE IN THE GLOBAL GREEN ECONOMY
NAMIBIA CEMENTS ITS ROLE IN THE GLOBAL GREEN ECONOMY In a landmark moment for Namibia’s green industrialisation drive, the country officially marked a significant milestone by launching a first-of-its-kind carbon-neutral iron production plant in Africa, and one of the world’s first industrial facilities dedicated to zero-emissions iron production, near Arandis in the Erongo Region. Happening […]
A MONTHLY WRAP-UP OF NEWS WORTH KNOWING
Namibia’s mining, financial, agricultural, and manufacturing sectors are advancing with new investments and government support. Over 600 new mining exploration applications reflect confidence in Namibia’s mineral wealth, although only 68 out of 162 active mining licenses are operational. The Bank of Namibia cut interest rates by 25 basis points to stimulate the economy amid low inflation. The Capricorn Foundation invested N$350,000 to train young Namibians in hospitality, aiding job creation. In manufacturing, the Trade Ministry is encouraging MSME participation in the beverage industry following AB InBev’s local production of Lion Lager. Additionally, Kadila Poultry Farming began operations, aiming to produce 400 tonnes of poultry monthly and create 350 jobs, reducing Namibia’s reliance on imports. These developments highlight progress across key sectors.
FINANCIAL INDICATORS
In August 2024, Namibia’s annual inflation rate decelerated to 4.4% y/y, down from 4.6% in July 2024 and 4.7% in August 2023, reaching its lowest level since November 2021. The key contributors to inflation were food and non-alcoholic beverages, housing and utilities, and transport. On a month-to-month basis, inflation rose by 0.3%, compared to 0.2% […]
NAVIGATING NAMIBIA’S ECONOMIC CROSSROADS
As Namibia approaches the end of a decade marked by stagnant GDP growth, we invite you to reflect with us on the present economic climate, the factors that have brought us here, and where we might be headed. While we make no predictions, we aim to extrapolate some loosely held expectations about the future from […]
PRESS SECRETARY REFLECTS ON PRESIDENT MBUMBA’S FIRST SIX MONTHS IN OFFICE
In his first six months in office, President Nangolo Mbumba has navigated Namibia through a period of profound change and challenge following the passing of his predecessor, Dr Hage Geingob, in February 2024. Reflecting on this transition, President Mbumba has demonstrated a steady hand in guiding the nation through mourning and uncertainty, steering the country […]
FINANCIAL INDICATORS
The Bank of Namibia’s fourth monetary policy announcement of the year took many by surprise, as the central bank opted to reduce the interest rate by 25 basis points, lowering the repo rate to 7.50% and the prime rate to 11.25%. This marks the first rate cut since the hiking cycle began in June 2022, […]
GREEN HYDROGEN: A CATALYST FOR NAMIBIA’S ECONOMIC RENAISSANCE
Article by Business Express Over the past 25 years, Namibia has enjoyed commendable economic expansion, averaging an impressive 4.5% per annum, which has elevated the country to upper-middle-income status. However, since 2015, growth has decelerated, revealing deep-seated structural challenges that need to be addressed to catalyse a new era of prosperity. Central to this new […]
ECONOMIC PROGRESS UNDER NAMIBIA’S LATE PRESIDENT
Economic Pulse – March 2024 His Excellency Dr Hage Geingob embarked on his presidency in 2015 amidst a wave of public support, having secured 86% of the presidential vote in 2014. However, with Geingob’s inauguration as the third president of Namibia, he inherited an overheated economy rapidly running out of steam. While Namibia had been […]
THE YEAR IN REVIEW
Entering 2023, Namibia’s economic landscape was characterised by cautiously optimistic projections, underpinned by strong commodity performance, a surge in government spending, the expected validation of prior oil discoveries and the emerging interest in green hydrogen initiatives. However, as the year unfolded, the optimism was somewhat offset by the reality of an economy still grappling with […]