Economy

Economy (712)

Namibia’s gross domestic product increased by 4.4% to N$181.9 billion in 2021 up from N$174.2 billion recorded in 2020, the Namibia Statistics Agency (NSA) agency said on Wednesday.

Namibia’s domestic economy rebounded to record a growth of 2.7% in 2021 relative to a contraction of 8% induced by the COVID-19 pandemic, national accounts figures released by the Namibia Statistics Agency show.

The Ministry of Mines and Energy maintains that contracts and agreements entered into on behalf of the country with companies exploring for oil in the country present the best options available because of high-cost implication and specialized skill requirements of the sector.

Chinese businesswoman Stina Wu has been taken to court for allegedly refusing to pay N$9.5 million for a property she bought from Esmeralda Manahi in 2019.

The Southern African Science Service Centre for Climate Change and Adaptive Land Management (SASSCAL) expects to launch a Southern African green hydrogen atlas, with 90% of the datasets having been collected.

The Anti-Corruption Commission (ACC) has arrested three individuals for allegedly attempting to bribe a Namibia Revenue Agency (NamRA) official.

The City of Windhoek (CoW) is working on new policy frameworks which will result in the capital city creating mixed-use developments and increasing informal trading spaces.

Namibia is set to undergo a country corruption review by the United Nations Convention Against Corruption (UNCAC).

Namibia will soon implement four green hydrogen pilot projects worth N$892 million after it received a N$500 million grant from the German Government.

The Bank of Namibia is expected to enact a 0.75 percentage point interest rate increase on Wednesday as it seeks to tamp down runaway inflation.

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