Economy (397)

Namibia is blessed with abundant natural resources yet a significant portion of her population continues to languish in poverty.

The Namibia Students Financial Assistance Fund (NSFAF) is planning to garnish bank accounts of 88,640 debtors who owe the fund N$4,215 billion.

The Federal Republic of Germany has reaffirmed its commitment to supporting Namibia's development and economic reforms, saying it will continue to provide more, despite having pumped N$29 billion  (1.5 billion Euros) into Namibia since her independence.  

Namibia has continued to record a spike in food prices, a development that is eroding the disposable incomes of many.

Namibia is set to commence feasibility studies for its N$186 billion ($10 billion) green hydrogen project in Q2 2023 after the implementation agreement is signed.

The Minister of Labour, Industrial Relations and Employment Creation Utoni Nujoma has announced new basic conditions of employment in the fisheries industry.

The Bank of Namibia (BoN) released its Economic Outlook update for March 2023, projecting a 3% growth in the domestic economy for 2023 and a further 2.9% growth in 2024.

Trade unions have petitioned Prime Minister Saara Kuugongelwa-Amadhila to award civil servants an 18% salary increment for 2023/24 and 2024/25 financial years.

The Ministry of Mines and Energy says its working on finalizing a local participation policy for the country’s emerging oil sector.

The City of Windhoek has announced the reappointment of Faniel Maanda as acting Chief Executive Officer (CEO) for a further six-month period, effective from March 8, 2023, until September 8, 2023, or until a substantive CEO is appointed.