The new EIF green concessional loan facility for youth entrepreneurs wishing to undertake economically viable investments that integrate low carbon and climate adaptation instruments is expected to grow and deploy N$300 million in the 2024/2025 financial year. This is contained in EIF’s annual report for the 2022/2023 financial year releasedContinue Reading
President Nangolo Mbumba has urged the most recent graduates from University of Namibia (UNAM) to, in the absence of work, harness their entrepreneurial spirit and visionary mindset to create new opportunities, challenge the status quo, and pioneer innovative solutions to address the complex challenges facing our societies. Mbumba who wasContinue Reading
Over 90% of Namibian depositors are covered under the Deposit Guarantee Scheme which aims to protect depositors from the loss of their deposits by compensating them in the unlikely event of a commercial bank failure. The Scheme adopts a guaranteed coverage limit of N$25,000 which is currently in effect. TheContinue Reading
In alignment with its Strategic Plan, the Bank of Namibia remains steadfast in its mission to drive digital and financial inclusion across all sectors of Namibian society with initiatives such as the Instant Payment Solution, the Central Securities Depository (CSD) Project, and the exploration of Central Bank Digital Currencies (CBDCs)Continue Reading
Growth in key mining industries in Namibia is estimated to decrease in 2024 mainly due to a myriad of issues including low production, water interruptions and declining international prices. According to the Bank of Namibia, growth for diamond mining is estimated to decrease significantly in 2024, partly dampened by lowContinue Reading
Namibia Critical Metals Inc. has announced an updated NI 43-101 Mineral Resource Estimate for the large-scale “Lofdal 2B-4” heavy rare earth project. The Company conducted a two-stage infill drilling campaign for the subprojects Area 4 and Area 2B with the purpose of increasing the confidence of the resources for theContinue Reading
The Ministry of Environment, Forestry and Tourism has said that they are currently engaged in the renovation of three entrance gates to Etosha National Park. The current entrance gates of Anderson, Von Lindqeuist and King Nehale Lya Mpingana will receive a total face lift. In addition to the entrance gates,Continue Reading
The Namibian economy is projected to slow down in 2024 before improving marginally in 2025. The domestic economy is estimated to decelerate from 4.2 percent in 2023 to 3.7 percent in 2024 before improving to 4.1 percent in 2025. “The projected slowdown is largely on account of weaker global demandContinue Reading
The deepening cocoa crisis in major cocoa-producing countries such as Ghana and Côte d’Ivoire is yet to affect Namibia as reflected in recent inflation figures, research experts Simonis Storm have said. It has been reported that that chocolate prices are continuously rising due to a deepening cocoa crisis in majorContinue Reading
Australian multinational mining firm Oar Resources secured commitments from its shareholders to raise N$12 million to fund two greenfield uranium projects in Namibia. The capital will be raised through a share placement issued by the firm in April, facilitating the acquisition of the EPL 9652 and 9725 uranium licenses inContinue Reading
