Browsing: Namibia

In February 2023, the annual inflation rate increased by 7.2 percent compared to 4.5 percent recorded in February 2022. www.theexchang.,africa
  • The annual inflation rate for February 2023 increased by 7.2 per cent compared to 4.5 per cent recorded in February 2022.
  • On a monthly basis, inflation rate increased to 0.4 per cent compared to 1.1 per cent registered in the earlier month.
  • Load-shedding in South Africa is preventing farmers from buying livestock from Namibia.  

In February, the cost of goods and services increased more sharply and the outlook does not appear promising, particularly regarding food, which saw a 14 per cent hike. The Namibian Statistics Agency disclosed inflation figures for February yesterday, with the month displaying a 7.2 per cent rate, one percentage point higher than January’s inflation rate.

This 7.2 per cent is taking the country back to August 2022 when inflation reached a peak of 7.3 per cent. While most goods and services’ prices have increased overall, service inflation continues to weigh on headline inflation, rising at a …

Namibia's debt-to-GDP ratio has continued rising further above the central government debt ceiling of 35% of gross domestic product as of March 2021. 

  • Namibia has consistently put out a series of measures to restructure the economy, enhance economic development, generate employment, and alleviate poverty and inequality.
  • Improving the business environment, promoting access to capital, improving governance, and reducing skills mismatches are crucial for stimulating growth and achieving long-term debt sustainability.
  • Implementation of the government’s fiscal reduction agenda is essential for debt sustainability.

Since its independence, Namibia has had an outstanding political stability track record.

Sound macroeconomic policies, moderate economic growth, poverty alleviation, and natural resource protection define Nambia's stability. The country has made significant accomplishments despite geographical limits. Namibia has confronted apartheid, colonial legacies, and the difficulties of establishing a national government. However, considerable obstacles persist.

Chronic massive unemployment, the devastation of HIV/AIDS, and one of the world’s most lopsided…

Namibia and Senegal have become the latest members to join the African Petroleum Producers Organization (APPO).

Represented by deputy minister of mines and energy Kornelia Shilunga, Namibia was officially welcomed at the Council of Ministers Ordinary Session in Luanda, Angola, on November 4, 2022.

The meeting also admitted Senegal, while Venezuela joined as an observer member. The 18-member organization was formed 15 years ago in Lagos, Nigeria. It is a platform for cooperation and harmonization of efforts, collaboration, and sharing of knowledge and expertise among oil-producing African states. Omar Ibrahim is the organisation’s secretary general.

  • Namibia and Senegal have become the latest members to join the African Petroleum Producers’ Organization.
  • Namibia is not yet producing any oil and depends on oil imports from South Africa. Namibia recently announced that it would consider joining the Organization of Petroleum Exporting Countries if the oil fields are found to be large enough for

The Namibian minister of industrialisation and trade, Lucia Iipumbu, launched an economic partnership agreement (EPA) implementation plan at the Southern African Development Community (SADC)-European Union EPA Trade Forum at the Windhoek Country Club Resort on Monday.

The event was co-hosted by the European Union (EU) delegation in Namibia under the theme ‘Towards Increased and Diversified Trade under the EPA by Ensuring Inclusivity, Sustainability and Economic Growth’.

“The EPA Implementation Plan for Namibia which we are also launching is geared towards attaining the objectives of the SADC – EU EPA and ensuring that the potential benefits that can accrue from it are fully utilised by the intended beneficiaries, which include exporters, importers, consumers, and the entire business fraternity,” she added.

  • The Minister of Industrialisation and Trade officiated the SADC-EU Economic Partnership Agreement (EPA) Trade Forum and jointly launched the EPA implementation plan in Windhoek.
  • The EPA provides duty-free, quota-free market access

The independent South African-based airline, Airlink, is acquiring a 40 per cent strategic equity holding in privately-owned Windhoek-based FlyNamibia.

FlyNamibia is the scheduled airline division of Westair Aviation established in 1967 initially as an aircraft maintenance facility, but which evolved into Namibia’s most experienced aviation company. It began scheduled passenger operations in June 2019 after the Namibian Transport Commission granted it carrier status.

  • Airlink buys 40 per cent of FlyNamibia, Namibia’s only operating scheduled domestic airline, under a deal announced at the end of September that aims to expand air service both within and outside the Southern Africa country.
  • The acquisition will bring the two carriers closer together with all FlyNamibia flights transitioning to using Airlink’s IATA code ‘4Z’ in an effort to boost sales and improve international connectivity.

The acquisition is for an undisclosed amount in a strategic equity partnership punted to fill the short- and medium-haul regional market …

Africa represents a market opportunity for global mergers and acquisitions players to geographically diversify their capital away from traditional markets such as North America, Europe, and Asia.

In recent years, mergers and acquisitions activities have become an important channel for investment in Africa for both global and local market players. These deals have allowed companies to consolidate their positions in African markets, contributing to better market access and competitiveness.

  • At its meeting held on September 5, 2022, the Namibian Competition Commission resolved to approve the acquisitions by Heineken International BV (Heineken BV) with conditions.
  • The transaction entails Heineken BV increasing its shareholding in NBL Investment Holdings (Pty) Ltd and thereby acquiring control over NBL Investment Holdings (Pty) Ltd, which is the holding company of Namibia Breweries Ltd (NBL).
  • The transaction further entails Heineken BV through NBL acquiring Distell Namibia Ltd, a Distell Group Holdings Ltd subsidiary.

Heineken International BV, a …

One of the main initiatives of the African Union’s Agenda 2063, which aims to remove barriers to Africans’ freedom of movement, employment, and residence on their continent, is the free mobility of Africans within it.

With the intention of encouraging the Member States to issue visas to improve the free movement of African nationals on the continent, the project tries to change Africa’s laws, which remain largely restrictive on the movement of people despite political vows to remove borders.

  • Nationals of Namibia and Botswana will no longer require passports to travel between the two nations.
  • The neighbouring nations of Botswana and Namibia have cordial relations and collaborate on economic growth.
  • Last year, Namibia and Botswana agreed to upgrade their cooperation from bilateral frameworks such as the Joint Permanent Commission of Cooperation (JPCC) and the Joint Permanent Commission on Defence and Security (JPCDS).

Once fully embraced by all Member States, the …

An increase in yellowcake pricing over the past year has inspired uranium producers. Demand was further boosted by unrest in Kazakhstan, which accounts for 45% of the world’s principal uranium output, and Russia’s invasion of Ukraine.

Between 2020 and 2035, China has declared its intention to erect 150 additional reactors. Japan and South Korea also intend to increase their nuclear capacity. Britain has pledged to construct one new nuclear plant annually in Europe, while France aims to construct 14 additional reactors and the European Union has suggested classifying nuclear power as a green investment.

  • The Ministry of Mines and Energy recently approved the extension of Rössing Uranium Mine’s licence (ML28) for another 10 years from 2026 to 2036
  • Bannerman Energy also lodged its Mining Licence (ML) Application for the proposed Etango-8 uranium mine with the Namibian Ministry of Mines and Energy
  • In 2020, Namibia was the world’s biggest

Namibia has displayed a commendable level of innovation, resolve and determination to unlock new opportunities to industrialize, create employment, and crowd in local and international private sector funding and expertise to deliver socio-economic outcomes.

Currently, the country is gaining international attention as it pursues an environmentally friendly hydrogen energy initiative with the help of Germany.

  • Recently, the governments of Germany and Namibia signed a mutual declaration of intent to hasten the study, creation, and manufacturing of green hydrogen. Investors from Germany have already begun to position themselves in Namibia’s market for green hydrogen.
  • The German government will provide money for four green hydrogen pilot projects in Namibia totaling about N$500 million (30 million euros). Among the grantees are TransNamib, the University of Namibia (Unam), the Namibian Ports Authority (Namport), and the Ohlthaver & List Group.
  • Renewable projects built for hydrogen production might even be a way for Namibia to subsidize

Trophy hunting is permitted across large swaths of Africa today. Many of the animals hunted and exported for trophies are smaller game, such as impala and warthogs.

Still, most of the revenue generated from commercial hunting comes from the so-called charismatic Big Five: elephants, lions, leopards, rhinoceroses, and buffalo.

Restrictions on trophy hunting imports have been imposed in the US, Europe, and Australia. At the same time, the UK recently announced that it would “ban imports from thousands of species as part of a wider UK drive on international conservation”.

  • Minister of environment, forestry, and tourism Pohamba Shifeta says the banning of hunting trophy imports by the United Kingdom (UK), Belgium, and Finland may have negative consequences for Namibia and its wildlife
  • A total of 5001 trophy hunters visited Namibia for hunting in 2019. German tourists or hunters were the highest with a total of 1792 (36 per cent)
  • While