Information and insights company TransUnion has published its latest Consumer Pulse Study which shows that Namibian consumers are grappling with continued financial challenges, driven by the impact of job losses, salary reductions and high inflation. According to the study, 38% of consumers experienced stagnant incomes and 34% experienced decreased incomesContinue Reading
Dr. Mokgweetsi Masisi, President of Botswana, has said that despite the warm relations between Namibia and Botswana, the two countries have yet to fully tap into their bilateral economic prospects. Addressing delegates at the official opening of the Swakopmund International Trade Expo (SWAiTEX), Masisi highlighted that there exists significant potentialContinue Reading
The iconic Theo’s Superspar in Otjiwarongo (TRJ’s Trading Enterprises Close Corporation) is on the cusp of closure after the Spar Group instituted urgent legal proceedings to take control of some of its assets, Business Express can reveal. Documents seen by Business Express show that TRJ’s Trading Enterprises Close Corporation tradesContinue Reading
The Ministry of Fisheries and Marine Resources has said that currently, there are eleven active Mariculture farmers employing about 205 employees. Namibia’s aquaculture has two sub-sectors: freshwater aquaculture and marine aquaculture, popularly known as Mariculture. The Mariculture subsector, which is private oriented for commercial trade, produces the most highly valuedContinue Reading
As the illicit ivory trade in Southern Africa shows alarming trends, Namibian authorities have seized at least 102 elephant tusks in the past year. Pohamba Shifeta, Minister of Environment, Forestry, and Tourism, has said Shifeta was speaking at the national stakeholder forum for wildlife protection and law enforcement last weekContinue Reading
TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritise exploration in other areas closer to Namibia, according to people familiar with the matter. The French giant braved one of the fastest ocean currents in the world to drill off South Africa’s coast, spendingContinue Reading
Namibian exports constituted just 34.1% of GDP in the first quarter of 2024 marking the lowest share since the 31.7% recorded in the first quarter of 2022, a report released by Simonis Storm reveals. Imports accounted for 61.5% of GDP in the first quarter of 2024. “In the first quarterContinue Reading
Oil and gas discoveries in Namibia are transforming the nation into a high-end business travel destination from a tourist locale for a South African airline. TotalEnergies SE and Shell Plc have found an estimated 11 billion barrels of oil reserves in Namibia, in what is touted as potentially the biggest-everContinue Reading
Koryx Copper has announced the appointment of Charles Loots as an independent Director effective immediately. Loots is a Namibian Permanent Resident and a dual South African and Australian Citizen. He has 24 years of experience in the mining industry and is an Environmental, Social and Corporate Governance (ESG) specialist withinContinue Reading
Namibia Critical Metals has announced that it has signed a non-binding, non-exclusive Memorandum of Understanding (MoU) with Copenhagen Atomics (CA) to sell thorium produced from the Lofdal Heavy Rare Earth Project. The MOU provides the framework for the parties to negotiate a binding commercial offtake agreement for the supply ofContinue Reading
