Economy

Economy (712)

Namibia and Botswana have reaffirmed their commitment to the development of the multibillion-dollar Trans-Kalahari Railway project, which aims to link Botswana's rich coal fields to the Namibian coast. 

RWE and Hyphen Hydrogen Energy (Hyphen) have signed a memorandum of understanding which could see RWE offtake up to 300,000 tons of green ammonia per year from Namibia. 

Motorists and businesses can now breathe a sigh of relief after the Ministry of Mines and Energy reduced the price of diesel for December by N$1.25 to N$22.85, while the price of petrol remains unchanged from 7 December 2022. 

Western Cape Premier Alan Winde has flagged the potential for cooperation between Namibia and South Africa in the development of green hydrogen.

Namibia is set to participate in the piloting of the Single African Air Transport Market (SAATM), which is expected to see a 27% reduction in air fares, create close to 600,000 jobs and add US$4.2 billion to the continent’s gross domestic product.

Bank of Namibia Governor Johannes !Gawaxab says Namibia’s economy has turned the corner from the bleak 2016-2020 period that was marred by contractions where the domestic economy suffered negative growth.

Namibia’s overall electrification rate is estimated to be 50% which translates into about 300,000 unelectrified households, The Ministry of Mines and Energy has said.  

 The government is set to raise millions of dollars from the auction of 15,000 metric tonnes (mt) of Hake in its third sale of fishing quotas this year. 

Fifty women from across the country have graduated as second cohort for the Academy for Women Entrepreneurs (AWE), a programme that provides women with the tools needed to create and grow their own businesses, raise capital, and effectively network with other successful business owners. 

The Namibia Investment Promotion and Development Board (NIPDB) has urged stakeholders to come up with new ways to unlock growth in the Micro, Small and Medium Enterprises (MSMEs) sector.

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