Economy

Economy (712)

Finance Minister Ipumbu Shiimi on Tuesday revised downwards the country’s 2022 growth projections from 2.9% to 2.8% citing global factors such as high interest rates and inflation as well as disruptions on supply chains.

Namibia is expected to generate over N$12 billion (US$659.6 million) in Foreign Direct Investment (FDI) in 2022 on the back of increased investor confidence and lucrative opportunities in the renewable energy sector, PSG Wealth Management Namibia has predicted.

Minister of Labour, Industrial Relations and Employment Creation Utoni Nujoma has challenged trade unions to also focus on productivity as a way of growing the economy and reducing unemployment rate in the country. 

The International Monetary Fund (IMF) says Namibia’s government debt is expected to decline marginally from 71.8% of GDP in 2022 to 71.7% next year.

Namibia’s annual inflation rate hit a five-year high of 7.1% in September compared to 3.5% recorded in September 2021, largely driven by increases in food, transport and non-alcoholic beverages. 

The Namibia Investment Promotion and Development Board (NIPDB) on Tuesday launched the digital Nomad visa, which can enable travelling enthusiasts to have leisure while at the same time working as part of its vision to promote tourism and lure investments as the country seeks to tap into a growing billion market.

Namibia has expressed interest to learn from Qatar, one of the richest oil and gas producing countries in the world, in the development of a National Petroleum Development Strategy.

 Mobile Telecommunications (MTC) Ltd, in collaboration with the Okahandja Municipality, has invested N$200,000 in the construction of open market stalls in the town of Okahandja to help stimulate entrepreneurial actions and promote self-employment for at least 25 micro entrepreneurs in the garden town. 

Namibia is losing the majority of its economically active population to road accidents, a new report has revealed. 

The Namibia Competition Commission (NaCC) says it is studying the findings made by the South African Competition Commission on the pricing of cooking oil in the neighbouring country and will decide if it warrants an investigation on the Namibian market. 

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries