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Namibia could register a gross domestic product (GDP) of U$37 billion at peak production level from the country's newly discovered oil reserves, an official has revealed.

 Green Hydrogen Commissioner James Mnyupe has warned authorities against formulating draconian laws relating to the oil and gas sector, saying such stringent legislation may scare away investors.

The Meat Board of Namibia says the country resorted to importing at least 60% of its pork requirements despite having slaughtered 11,363 pigs to produce a total of 1,108 tonnes of pork in the second quarter (Q2).

Old Mutual Namibia has launched, Compass, a new fund administration system.

Namibia Breweries Limited (NBL) and the Namibia Food and Allied Workers Union (NAFAU) have signed a substantive wage agreement for the 2024 financial year.

Telecom Namibia plans to invest N$25.7 million as part of a national youth training initiative, expected to benefit 83 youths nationally with skills for roles in the country’s ICT sector.

The Ministry of Urban and Rural Development says it has approved between 15% and 25% allowance increases for Mayors and Councillors at local authorities.

 Treasury says drought conditions often threaten the fiscus budget, resulting in authorities spending an average of N$500 million on drought relief programmes in an effort to cushion the affected communities from the severe effects. 

The Namibia Building Workers' Pension Fund (NBWPF) says it currently has assets worth N$281.6 million.

The South African Reserve Bank (SARB) may have paused its interest rate hiking cycle last week, but there could be another hike around the corner.

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