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Tower Resources has announced that the results from a recently completed basin and thermal maturity study conducted over its blocks in Namibia's Walvis Basin show evidence of a functioning petroleum system. 

The government will be acquiring a 24% stake on offer in the Hyphen Green Hydrogen project through a newly established sovereign wealth fund, an official has revealed.

Netherlands and Denmark have called for the fast-tracking of projects such as Green Hydrogen to provide jobs, and enable the youth to put the skills they have learned to good use.

The City of Windhoek (CoW) has been awarded an N$8.8 million grant to power 50,000 homes in informal settlements with solar electricity through the Urban and Municipal Development Fund (UMDF).

The Bank of Namibia (BoN) has declared online business QZ Asset Management as a Ponzi scheme after an investigation into its business dealings.

Tourism arrivals in the country remain low after only 15% of tourists have visited the country post Covid-19 when compared to 1.5 million in 2019, Tourism minister, Pohamba Shifeta has revealed.

The Electricity Control Board (ECB) states that NamPower's disconnections as part of a debt collection plan have caused immeasurable damage to the economy, a position which could worsen if continued.

 Alpha Namibia Industries Renewable Power Limited (ANIREP) posted a profit before tax of N$28.7 million during the year ended 28 February 2023, a significant increase compared to the restated figure of N$6.6 million in the previous year.

 The Namibian Financial Institutions Supervisory Authority (NAMFISA) says it is set to introduce a Consumer Credit Bill.

Oil major Shell, which is conducting appraisal work on PEL-39 to determine the commercial viability of the hydrocarbon, has cautioned that first oil from its discovery in Namibia is unlikely before 2030.

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