Economy

Economy (712)

Namibia’s fishing sector is forecasted to grow by only 1.3% in 2023, due to an unlikely increase in the total allowable catch (TAC), owing to a slow growth in the country’s stocks, research firm Simonis Storm said in its Agri-monthly report.

The Ministry of Labour, Industrial Relations and Employment Creation has reduced the threshold for Designated Employers from 25 to 10 or above in an effort to address rising unemployment in the country.

National power utility NamPower maintains Zambia will continue to supply uninterrupted electricity to Namibia despite the neighbouring country enduring excessive load-shedding.

Namibia’s annual inflation rate accelerated to 6.9% in December 2022, compared to 4.5% in December 2021 driven primarily by increases in the prices of transport, food, and non-alcoholic beverages, latest official figures show.

Namibia’s passport has been ranked 67 out of 199 countries including 227 travel destinations rated globally in the latest Henley Passport Index.

The decision to enroll a child in a private school can be a difficult one, especially when considering the cost. With reports of a decline in the performance of Grade 11 and 12 learners in public schools during the 2022 academic year, many parents are considering private education as an alternative.

First Lady Monica Geingos, MVA Fund Chief Executive Officer Rosalia Martins-Hausiku, and Dr. Helena Ndume, Head of Opthalmology at Windhoek Central Hospital, have been named among 100 Most Reputable Africans of 2023 by Reputation Poll International (RPI).

Namibian fuel prices are set to decrease tomorrow (Wednesday) after the Ministry of Mines and Energy lowered diesel prices by N$2.20 per litre and the petrol price by N$1.80 per litre to the relief of motorists. 

Namibian President Hage Geingob is confident about the future economic prospects of the country following the discovery of oil by Qatar Energy, Shell, and Total Energies in the Orange Basin, offshore Namibia near Luderitz.

Namibians will enter the New Year with a sigh of relief after the Ministry of Mines and Energy decreased diesel prices by N$2.20 per litre and the petrol price by N$1.80 per litre with effect from the 4th of January 2023. 

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