Economy (501)

The City of Windhoek has appointed two private companies, KeyPlot Investments and ChargeTech Namibia, to manage parking in the central business district.

The government, through the Office of the Prime Minister, has made available N$139.3 million for disaster risk management programmes in the country, Deputy Prime Minister Netumbo Nandi-Ndaitwah has said.

Tuesday, the 21st March 2023 marked Namibia’s 33rd Independence Day. The day is known to be a celebration of an end of a colonial era, in the same vein a commemoration of selfless sacrifices made at the time, which paved the way for us to relish the rights and freedom we have today.

I had the privilege to attend the Namibia Institute of Corporate Governance conference that was held under the theme: “Mind shift – Real Contextualised Sustainability for Namibia”. It was an enlightening conference and I want to use this platform to reflect on the conference.

The rising cost of living has hit occupancy figures of local guests at hospitality establishments from 55% last year to 31% in February, 2023.

Namibia's current economic framework is incapable of meeting the country's challenges, and analysts are concerned about the country's inability to gain traction in addressing issues such as poverty, unemployment, and inequality, among others.

Namibia plans to accelerate industrial development and job creation by capitalizing on the green hydrogen industry, as well as the sub-sectors of oil and gas, and enhancing agricultural production.

Last week, I presented at a conference hosted by the Namibian Institute of Corporate Governance (NICG). A question posed by the moderator lingered, long after the conference had ended: ‘How is Namibia faring in terms of natural resource governance for the benefit of Namibia and her people?’

Despite a boost in global economic activities recorded in 2022, overall growth in international economic activities for 2023 is likely to remain subdued.

President Hage Geingob has revealed that equity injections in exploration activities related to the offshore oil discoveries boosted the country’s Foreign Direct Investment, with N$13.2 billion, translating into a 7.2% of Gross Domestic Product (GDP) during the first nine months of 2022.