• Business & Economy
  • Companies
  • Agriculture
  • Technology
  • Property
Wednesday, July 30, 2025
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • E-Editions
No Result
View All Result
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • E-Editions
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
No Result
View All Result
Home Business & Economy

Reduced oil and gas activity hits Namibia’s FDI in Q3

by editor
December 18, 2024
in Business & Economy
10
A A

Namibia recorded a net foreign direct investment (FDI) inflow of N$5.6 billion in the third quarter of 2024, a decline of 16.9% quarterly and 44.4% annually, latest data shows. 

According to the Bank of Namibia (BoN), the reduction is attributed to lower equity inflows into oil and gas exploration and appraisal activities, as operators scaled down appraisal drilling campaigns to analyse the results further.

“Namibia’s net foreign direct investment recorded a lower net quarterly inflow due to lower equity inflows into oil and gas exploration and appraisal activity over the third quarter of 2024,” BoN’s Quarterly Bulletin read.

Meanwhile, on a net basis, Namibia’s portfolio investment switched from a net outflow to a net inflow during the third quarter of 2024, attributable to the sale of foreign equities and debt securities from offshore markets.

“During the quarter under review, portfolio investment registered a net inflow of N$3.6 billion compared to a capital outflow of N$2.7 billion and N$1.6 billion recorded a year earlier and in the preceding quarter, respectively,” BoN said.

The central bank said this was driven by the sale of foreign equities and debt securities in offshore markets.

During the quarter under review, other investments recorded a net capital outflow of N$3.3 billion compared to a net inflow of N$1.0 billion and N$4.5 billion recorded during the corresponding quarter last year and in the previous quarter, respectively.

“The net outflow was on the back of the placement of deposits abroad given the wider interest rate differential between Namibia and South Africa. This was further supported by foreign loan repayments, mainly from the mining sector and the central government,” said BoN.

Furthermore, the net outflow was complemented by trade credit extended to non-residents, mainly in the mining sector and for the re-export of mineral fuel.

BoN noted that the yearly increase in other investments was chiefly ascribed to deposit placements abroad and repayments in the form of foreign loans.

Moreover, Namibia’s international reserves declined by 0.9% quarter-on-quarter to N$57.1 billion at the end of September 2024, due to exchange rate appreciation and unrealised revaluation losses.

However, reserves rose 6.2% annually, driven by higher SACU receipts. 

The Bulletin highlighted that reserves, sufficient to maintain the currency peg and meet financial obligations, provided an estimated 3.9 months of import cover, up from 3.8 months in the previous quarter.

By October 2024, reserves increased to N$60.9 billion, offering 4.1 months of import cover following SACU inflows.

author avatar
editor
See Full Bio
Tags: economyFDInamibiaoil and gas
Share216Tweet135Share38
Previous Post

South Africa’s share in Namibia’s exports shrinks

Next Post

Pupkewitz Megabuild emerges as Cheapest Hardware Store for the Year

MUST READ

DBN youth SME funding sees only N$1.25m disbursed amid low uptake
Business & Economy

DBN youth SME funding sees only N$1.25m disbursed amid low uptake

July 23, 2025
Namibia targets to formalise 950 informal businesses by 2030
Business & Economy

Namibia targets to formalise 950 informal businesses by 2030

July 22, 2025
AfDB flags fiscal risks, urges deeper reforms in Namibia
Business & Economy

AfDB flags fiscal risks, urges deeper reforms in Namibia

July 18, 2025
Women now lead over 70% of Namibian SMEs
Business & Economy

Women now lead over 70% of Namibian SMEs

July 8, 2025
Namibia seeks stronger U.S. partnerships at Africa Business Summit
Business & Economy

Namibia seeks stronger U.S. partnerships at Africa Business Summit

June 23, 2025
April inflation rises to 3.6%, driven by food and housing costs
Business & Economy

April inflation rises to 3.6%, driven by food and housing costs

May 13, 2025
Next Post
Pupkewitz Megabuild emerges as Cheapest Hardware Store for the Year

Pupkewitz Megabuild emerges as Cheapest Hardware Store for the Year

Related News

Namport’s N$26.2bn expansion plans revealed

Namport’s N$26.2bn expansion plans revealed

August 24, 2023
Nambaza Logistics Park breaks ground at Walvis Bay

Nambaza Logistics Park breaks ground at Walvis Bay

March 8, 2025
Record vehicles sold in Namibia since 2017

Record vehicles sold in Namibia since 2017

October 13, 2023

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

  • Home
  • Companies
  • Business & Economy
  • Mining & Energy
  • Opinions
  • Africa
  • E-Editions

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • E-Editions