Economy

Economy (712)

The International Renewable Energy Agency (IRENA) says Namibia has the potential to raise the total investment from its initial green hydrogen projects to US$ 9.4 billion, which is almost in line with the country’s current GDP and become a net exporter of energy in the coming years.

President Hage Geingob says Namibians should get vaccinated in their numbers to bolster economic growth.

The country’s annual inflation rate for December increased by 4.5% compared to 2.4% recorded in December 2020, the Namibia Statistics Agency (NSA) said Thursday.

Government expects to rack-up close to N$4 billion in revenues per annum from Green Hydrogen projects, with contributions towards the Sovereign Wealth Fund and royalties expected to amount to N$627 million per annum, once full production capacity is reached.

Namibia is likely to see at least two interest rate hikes in 2022, economic analysts who spoke to The Brief have advised.

The United Nations has identified 17 Sustainable Development Goals that we as humanity should be trying to achieve. All are noble, all are essential, but some get more attention than others. Especially in a country like Namibia. Sadly we cannot take access to food or the absence of poverty and access to education for granted.

President Hage Geingob says the country is set to get a N$100 million boost from concession fees from the energy firm awarded rights to construct Namibia’s inaugural green hydrogen projects.

The Ministry of Mines and Energy has announced that it will keep fuel prices for January 2022 unchanged.

The United States will lift its travel ban imposed on Namibia and other countries in southern Africa at midnight on December 31, reversing restrictions imposed last month to combat the spread of the Omicron variant.

Namibia has recorded a trade deficit of N$8.1 billion in the third quarter after exporting goods and services worth N$13.4 billion while import of goods and services stood at N$21.5 billion, the country’s statistical agency has said.

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