Category: Business
Mining and Quarrying PPI Records Quarterly Decline Amid Commodity Price Weakness
By: David Shoombe The Producer Price Index (PPI) for Namibia’s mining and quarrying sector recorded a 7.4% increase year-on-year, according to the Namibia Statistics Agency (NSA). However, on a quarterly basis, the sector experienced a slight decline, attributed…
TotalEnergies Crowns 2024 Startupper of the Year Winners
By: Staff writer TotalEnergies awarded the Namibian winners of the Start-upper of the Year Challenge at the Mercure Hotel in Windhoek on Wednesday evening. Young and striving entrepreneurs from 32 African countries could participate in the challenge’s fourth edition….
Blue Earth Capital N$198 Million Investment To Fuel Rhino Park Expansion Plans
By: Staff writer Global specialist investor Blue Earth Capital has committed N$198 million ($11 million) in private credit to Rhino Park Holdings, a specialist in maternity and neonatal healthcare. The funding will work to catalyse Rhino Park’s ambitious expansion…
October Vehicle Sales Surge
By: Ludorf Iyambo Vehicle sales in October soared to 1,145 new units, marking a 24.6% year-on-year increase from the 919 units sold during the same period last year. Simonis Storm analyst Almandro Jansen attributed this growth to pre-year-end,…
FNB Launches Cross-Border Payment Solution
By: Dolly Menas First National Bank (FNB) Namibia has partnered with BankservAfrica to introduce the Transactions Cleared on an Immediate Basis (TCIB) solution. The payment solution is an innovative system designed to enhance cross-border payments within the Southern…
DBN’s Balance Sheet Affected by Oil Storage Loan
By: Nghiinomenwa-Vali Erastus The Development Bank of Namibia (DBN) has reported a decline in its balance sheet, primarily attributed to the accelerated runoff from the National Energy Fund (NEF) oil storage loan exposure. The bank’s total balance sheet…
Uaandja urges Namibians to Take Initiative in FDI-Linked Opportunities
By: Justicia Shipena The Namibia Investment Promotion and Development Board (NIPDB) is urging Namibians to actively pursue foreign direct investment (FDI) opportunities, rather than passively waiting for assistance. In a recent interview with Eagle FM, NIPDB CEO Nangula…
Namibia’s Export Earnings Rise by 2.9% in September 2024
By: Hertha Ekandjo Namibia’s export earnings increased by 2.9% in September 2024, reaching N$9.0 billion, up from N$8.7 billion in August. This was revealed in the latest Namibia International Merchandise Trade Statistics Bulletin released by the Namibia Statistics Agency…
Govt Lowers Expected Diamond Sector Revenue by N$2.3 Billion
By: Hertha Ekandjo The government has reduced its projected revenue from the diamond sector for the 2024/2025 fiscal year by more than N$2.3 billion, citing lower global diamond prices and weakened demand. Minister of Finance and Public Enterprises Iipumbu…
NAB Aims to Commercialise Mahangu
By: Nghiinomenwa-vali Erastus The Namibia Agronomic Board (NAB) is pushing to commercialise mahangu, a staple crop widely grown for household consumption in Namibia, yet often imported during times of drought. In its latest newsletter, Gilbert Mulonda, NAB’s General…