Economy

Economy (712)

Namibia’s food prices are expected to rise further during the course of 2022. This is mainly driven by the global energy crisis and production risks due to supply disruptions caused by the Russia /Ukraine war.

The Namibia Chamber of Commerce and Industry (NCCI) has recommended that commercial public enterprises (PEs) enter partnerships (PPPs) with private sector firms to improve operational efficiency and profitability.

The Namibian government might have to borrow to meet the funding requirements of the N$924 million last-minute deal struck with civil servants to avert an imminent nationwide strike.

The government has sealed a last-minute deal with civil servants Unions' valued at N$924 million to avoid a national strike.

The Namibia Local Businesses Association (NALOBA) has advised the government to give back 10% of the tax threshold to every civil servant, a move which it says will result in an increase in their net salaries as an interim measure until the country’s economic challenges have stabilized.

Preliminary results show that 96% of civil servants voted to go on strike during the two-day voting process that began on Thursday and ended on Friday.

Namibian motorists on Friday heaved a sigh of relief after the Ministry of Mines and Energy maintained diesel and petrol prices for the month of August, and extended fuel price relief measures introduced in May.

The government has averted a major fuel crisis by increasing dealer margins by 50 cents.

Nearly each week if not after every two days, somewhere in the country there are placards and hordes of people chanting and threatening to down tools as they demand for better wages and improved benefits, while in worst scenarios some end up losing their employment as a result of striving for bread and butter.

Namibia has opened talks with the Indian government to source cheap fuel from the leading Asian petrol and diesel exporter.

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