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Prices for new vehicles in Namibia are expected to slow down next year due to low commodity prices, research firm Simonis Storm has predicted.

Daures Green Hydrogen Consortium has struck its first offtake agreement with Zimbabwean ammonium nitrate fertilizer manufacturer, Sable Chemicals.

TransNamib has reintroduced its passenger service that was suspended nearly two years ago due to obsolete and insufficient locomotives, rolling stock and unreliable railway lines.

Askari Metals has signed a binding agreement with Earth Dimensions Consulting to acquire an 80% interest in a lithium prospective tenement near the town of Uis in Namibia.

Namibia in October exported uranium worth N$2.2 billion to China, a move attributed to the country’s trade deficit of N$1.7 billion for the period under review, however, a 33.5% improvement when compared to a deficit of N$2.6 billion recorded the previous month.

The Bank of Namibia (BoN) forecasts the domestic economy to grow 3.9% in 2022 before moderating slightly to 2.7% in 2023, the central bank announced on Tuesday,  largely driven by the recovery in the country’s mining sector.

 The Namibian Stock Exchange (NSX) Local Index hit a three-month low in November after recording trades valued at N$44.7 million, down from N$125.3 million in October, Cirrus Securities has said.

 The Ministry of Public Enterprises has now officially been dissolved and will now operate as a Department in the Ministry of Finance, which will now be known as the Ministry of Finance and Public Enterprises following the publishing of a government gazette on Thursday.

The Government Institutions Pension Fund (GIPF) has made an initial allocation of N$1.5 billion to assist its members to acquire and renovate properties in the country. 

The Cabinet has endorsed the Ministry of Fisheries and Marine Resources’ decision to set the total allowable catch (TAC) for horse mackerel at 290,000 metric tonnes (mt) for the 2023 season.

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