Credit Growth Trends Private Sector Credit Extension (PSCE) growth accelerated to 5.0% y/y in March 2025, up from 3.9% y/y in February, marking the strongest expansion since March 2020. This sharp improvement was underpinned by robust growth in corporate credit, while household credit showed a slight uptick. The data suggests that overall credit appetite is [...]
While many of us spent a lot of time last month staring at the chimney of the Sistine Chapel to see what colour smoke would come forth from it, and in so doing, find out whether or not a new Pope had been chosen, we should all perhaps be spending a bit more time thinking [...]
Private Sector Credit Extension (PSCE) maintained its upward trajectory for the third consecutive month, rising to 3.0% year-on-year (y/y) in September, compared to 2.1% at the end of August. This marks the second time this year that the PSCE rate has exceeded 3%, refecting sustained growth momentum since April 2023. During Q3 2024, annual credit [...]
"Namibia’s export performance in August 2024 totalled N$8.7 billion, marking the second consecutive month of decline since the peak reached in June 2024, despite showing a year-on-year growth of 18.2%." In August 2024, Namibia recorded exports of goods and services amounting to N$8.7 billion, while imports reached N$12.3 billion, resulting in a trade deficit of [...]
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 [...]
Exploration and discoveries Namibia’s offshore oil and gas sector is set for a significant transformation, following a series of major discoveries in recent years which include Graff-1, Venus-1, Jonker-1X, La Rona-1 and Lesedi-1X. These developments have attracted global oil and gas giants such as TotalEnergies, Shell, Chevron and ExxonMobil, alongside energy corporations like Galp Energia [...]
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 [...]
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, [...]
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 [...]
Article by Business Express In the first half of 2024, a total of 6,361 units were sold, slightly below the 6,441 units sold in the same period of 2023 but surpassing pre-pandemic levels, a report by Simonis Storm reveals. In June 2024, vehicle sales increased to 993 units from 966 units in May 2024, representing [...]
