Namport's Chief Executive Officer has announced that the businesses operating at the Walvis Bay waterfront will be relocated to another area to better combine maritime activities with recreational and tourism activities.

Andrew Kanime said this during the Namibian Ports Authority Port Users Breakfast held at Walvis Bay.

Namports' Chief Executive Officer says global growth is expected to slow from 6% in 2021 to 3% this year. It is further expected to decline to 2% in 2023.

Kanime says, as a result, rising inflation rates pose a serious risk to the company's future, particularly acute in the US and Europe, where authorities are tightening general financial conditions and fiscal spending in response to the growing need to contain runaway inflation.

In the case of China, he says, this has been aggravated by its zero-tolerance policy for COVID-19, which has seen continued lockdowns.

Despite the effects of the COVID-19 pandemic on the logistics industry, Namport's revenue increased by 11% for the fiscal year 2021–2022.

The company's revenue increased from N$1.11 billion during the previous financial year to N$1.23 billion. 

The chief executive officer of Namport says the financial year under review included mixed fortunes for the state enterprise.

Andrew Kanime indicated that the impact of the COVID-19 pandemic resulted in a shortage of vessels for Namibian ports.