economy

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.