Economy (712)

Mines and Energy Minister Tom Alweendo says government is scaling up efforts to remove constraints that inhibit entrepreneurship activities and the growth of small businesses into medium- and large-scale competitive enterprises.

The government regards education as a fundamental human right. Kofi Ananan said: “Education is the great equalizer of our time, it gives hope to the hopeless and creates chances for those without it”. The Dakar Framework for Action on Education noted that quality education is a key enabler for sustainable development. Carol Bellamy, the Chairperson of the Global Partnership for Education said “education should not be seen as a sideline, but as an anchor to development policy”.

The Environmental Investment Fund of Namibia (EIF), through the Green Resilient Recovery Rapid Readiness Support in Namibia, will spend N$5 million on a green hydrogen feasibility study.

Standard Bank and the Motor Vehicle Accident Fund of Namibia (MVA Fund) have jointly invested N$12 million in renovating the emergency care unit at Katutura State Hospital.

The Ministry of Environment, Forestry and Tourism, in collaboration with German partners, has invested N$31 million in an effort to mitigate human-wildlife conflict and bolster community livelihoods in the Kunene Region.

The Namibia Training Authority (NTA) has inaugurated an 80kW Solar Power Plant at the Gobabis Vocational Training Centre (VTC), as the firm promotes environmental responsibility.

The Treasury says the economy in Namibia is forecast to grow 3.5% this year, before slowing to 2.9% in 2024.

Namibia's public debt is set to surge to N$153.8 billion in the 2023-2024 financial year, an official has revealed.

The Minister of Finance and Public Enterprises Iipumbu Shiimi says a broad policy of prioritising unforeseeable and unavoidable emergencies was adopted while drafting the 2023-2024 midterm budget review.

Namibia has hosted consultations to formulate the process and guiding principles for the establishment of a new legislative framework that will govern renewable resources such as green hydrogen.

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