Economy

Economy (712)

Namibia's annual inflation rate rose to 7% YoY in January 2023, marking the highest level at the start of the year since 2018.

Government generated about N$110.1 million from auctioning of Hake in December 2022, an exercise that showed improved prices.

The Bank of Namibia (BoN) is expected to increase interest rates by 25 basis points (bps) tomorrow as the country struggles to contain rising inflation. 

The Financial Intelligence Centre (FIC) says Namibia is making frantic efforts to fully comply with anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations to avoid it being grey listed.

The Ministry of Industrialisation and Trade (MIT) is set to develop 36 hectares of land donated by the governments of Congo and the Democratic Republic of Congo (DRC) into Trade and Industrial Estates, which will serve as a hub for the promotion and trading of Namibian goods and services in the West and Central African markets.

The multibillion-dollar Windhoek-Hosea Kutako International Airport Road Project is set to reach completion in September 2024, with the entire route to be officially open to the public by December of the same year.

The African Energy Chamber (AEC) has endorsed this year's edition of the Namibia International Energy Conference, set to take place in Windhoek in April.

The Environmental Investment Fund of Namibia (EIF) is set to develop water-softening systems (mini desalination plants) in 10 regions across the country.

The Ministry of Fisheries and Marine Resources has reported an increase in surveillance activities within the country's exclusive economic zone.

Namibian businesses are optimistic about the country's economic and employment prospects in 2023, according to a recent survey conducted by Simonis Storm.

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