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
Namibia’s vehicle sales for March 2024 reached 1,451 units, marking the highest sales since July 2016, when 1,540 units were sold, a report released by Simonis Storm reveals. Out of the 1,451 units sold in March 2024, 1,269 were sold to dealerships, 182 to rental agencies, and none to theContinue Reading
By Sophie Tendane The European Parliament and the Council have recently announced a groundbreaking law known as the Directive on Empowering Consumers for the Green Transition (ECGT). This law aims to empower consumers against corporate “greenwashing” and misleading environmental claims. The ECGT law places restrictions on deceptive green claims andContinue Reading
Minister of Hydrocarbons of the Republic of Congo Bruno Jean-Richard Itoua will discuss Africa’s gas monetization drive and cross-border collaboration within the sector at the Namibia International Energy Conference (NIEC), taking place in Windhoek on April 23-25. The Republic of Congo represents one of Africa’s leading crude oil producers, withContinue Reading
