Category: Business
25% of N$1.3bn Solar Project Reserved for Local Contractors
By: Nghiinomenwa-vali Erastus and Fransina Nghidengwa Two Chinese contractors, awarded N$1.4 billion for the Engineering, Procurement, and Construction (EPC) of a 100 MW solar plant near Rosh Pinah, are required to allocate at least 25% of the project…
Informal Cross-Border Trading Declines
By: Mathias Hangala The value of informal cross-border trade at all surveyed border crossings in November 2023 declined by 46.8%, from N$19.4 million in September 2019 to N$10.3 million. Of the N$10.3 million, exports accounted for 88.5%, while…
Telecom Partners with Marintel JV to Modernise Maritime Safety
By: Fransina Nghidengwa Telecom Namibia has announced a partnership with Marintel JV to upgrade the Global Maritime Distress and Safety System (GMDSS) infrastructure along the Namibian coastline. This modernisation, unveiled on Monday, aims to provide continuous coverage for…
World Bank Appoints First-Ever Joint Resident Representative in Namibia
By: Dolly Menas The World Bank Group has appointed Mariama Cire Sylla as its first-ever joint Resident Representative for Namibia, effective October 1, 2024. This newly created position aims to consolidate the World Bank Group’s services, offering…
Govt Could Slash N$6.77 Billion in Bonds by 2025
By: Justicia Shipena The government is set to reduce its outstanding bonds by 2025, with N$6.77 billion currently owed on GC24, GC25, and GI25 bonds, according to a report from Simonis Storm Securities. This figure is expected to…
Ex-convict Receives Financial Boost to Grow His Barbershop Business
By: Loise Shiimi Cross-Calvary Niilenge, an ex-convict and owner of a barbershop in Oshakati, received a N$2,500 grant from a non-profit organisation aimed at supporting former offenders. The grant was provided by the Second Chance Foundation, a non-profit…
Namibia Secures Billions in Aid from China
By: Justicia Shipena President Nangolo Mbumba has returned from his first official state visit to China, securing significant financial aid and investment commitments from the Chinese government. During bilateral talks at the 2024 Summit of the 9th Forum…
Mbumba Sells Green Hydrogen Dream to China
By: Justicia Shipena President Nangolo Mbumba has asked the Chinese government to collaborate with Namibia in the development of green hydrogen and other energy projects the country has embarked on. He made this request during his bilateral talks…
Entrepreneurs Urged to Pursue Opportunities, Not Wait for Them
By: Mathias Hangala Local businesswoman Marisna Burger is encouraging Namibian entrepreneurs to actively seek economic opportunities rather than waiting for them to arise. Burger, founder and CEO of KMJ Solutions, a marketing firm, spoke in response to concerns…
Manufacturing Sector Records Exports Worth N$5.6 Billion in July
By: Hertha Ekandjo The manufacturing sector led the country’s exports in July 2024, with goods worth N$5.6 billion, contributing 55.9% of the total exports. This marks an increase of N$160 million compared to June 2024. Following the manufacturing sector,…