Economy (264)

Communications Regulatory Authority of Namibia's (CRAN) Chief Executive Officer, Emilia Nghikembua and Presidential Economic Advisor, James Mnyupe have been ranked among the top 100 African economic leaders in Choiseul’s 2022 ranking.

The Bank of Namibia says Namibia’s current account deficit widened to 14% of GDP from 7.7% registered in the corresponding quarter of 2021, attributed to the country’s widened merchandise trade deficit.

Development Bank of Namibia (DBN) and the Namibia Investment Promotion Board (NIPDB) have formalised their cooperation with a memorandum of understanding (MoU). 

Nedbank Namibia, together with OMDis and Uconomy Namibia have completed the Small to Medium-sized Enterprises (SMEs) and Economic Development Pilot Project that is aimed at diversifying the economic activities of Oranjemund.

Economists are predicting the Bank of Namibia (BoN) will raise its benchmark interest rate by 0.75 percentage points in October, the second such rise in a row, and signal plans to raise rates again in the coming months. 

The Reserve Bank’s Monetary Policy Committee (MPC) cranked up the benchmark repo rate by 75 basis points to 6.25% on Thursday to rein in consumer inflation which, prior to August, appeared to be hurtling towards 8%.

A collaborative energy approach, like that of the European Union (EU), is needed in Southern Africa, says Namibia’s presidential economic advisor James Mnyupe.

Namibia expects to ship its first green ammonia exports to Germany in 2026, from an identified country export volume potential of 3.5 million tonnes by 2030. 

Mines and Energy Minister Tom Alweendo says the government is not against the sale of Angolan fuel in the country, but wants the trade to be regularised. 

Namibia’s annual inflation rate reached a five-year high of 7.3% in August compared to 3.4% recorded in August 2021, largely driven by increases in food, transport and non-alcoholic beverages. 

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