Economic recovery is not expected to address pervasive challenges - Shiimi


Finance and Public Enterprises Minister Iipumbu Shiimi says the projected economic recovery is not expected to address pervasive and entrenched national challenges.

Tabling the national budget, Shiimi said it is therefore urgent that Namibia's economy be diversified.

With the domestic economic outlook having improved significantly, gross domestic product growth was estimated at 5.6% in 2023, before moderating to 4% in 2024 and 3.9% in 2025.

Stampriet Aquifer Uranium Association opposes mining activity


The Stampriet Aquifer Uranium Association remains adamant that the proposed mining activity on one of the aquifers that contains abundant and precious water should not continue as planned by the Uranium One group.

The association presented their scientific findings through a geologist, Dr. Roy Miller, to the Parliamentary Standing Committee on Natural Resources, Economic, and Public Administration at Leonardiville in the Aminuis Constituency.

Namibia, Cuba to explore new areas of economic cooperation


Namibia and Cuba will explore new areas of economic cooperation during the three-day state visit of Cuba's President Miguel Diaz Canel-Bermudez.

Ahead of the Heroes' Day commemoration, President Hage Geingob and First Lady Monica Geingos welcomed the Cuban leader and First Lady, Lis Cuesta Peraza, at State House.

The Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah, says the visit cements the traditional friendship between the two countries, which is slowly translating into economic trade.

Kavita Arts and Craft Park reopens


The Mayor of Swakopmund, Dina Namubes, says informal trading plays a crucial role in fostering local economic development.

Namubes further highlighted its substantial impact as a catalyst for combating poverty and unemployment in rural areas.

She said this during the reopening of the Kavita Arts and Craft Park.

Kavita Park is strategically located at the heart of Swakopmund town, flanked by hotels and guesthouses, for the local community to exhibit their products to tourists.

BoN economic reporting workshop


The Bank of Namibia is hosting a two-day economic reporting workshop for northern journalists to enhance their capacity to report accurately and effectively on economic issues.

In her welcoming remarks, the Bank's Branch Manager at Oshakati, Moudi Hangula, says that by hosting such a workshop, the bank is also striving to promote transparency and open dialogue with the media countrywide.

SADC integrated development agenda affected by economic challenges


Deputy Minister of Finance and Public Enterprises, Maureen Hinda-Mbuende, says the SADC integrated development agenda has been adversely affected by economic challenges, the recent global COVID-19 pandemic, and international geopolitics.

Hinda-Mbuende said this during the opening of the SADC Development Finance Institutions Chief Executive Officers Forum in Swakopmund.

She highlighted that these circumstances have resulted in ongoing challenges for governments and kingdoms within the SADC region in terms of providing essential support to development finance institutions.

Enormous potential for nuclear science and technology


Nuclear science and technology hold enormous potential and can help any given country solve pressing social and economic issues. 

The Minister of Health and Social Services, Dr. Kalumbi Shangula, has therefore directed the new Atomic Energy Board to mobilize stakeholders and develop common agendas for the enhancement of nuclear science and technology in Namibia.

Positive economic growth recorded in 2022


Namibia recorded positive economic growth in 2022, despite the impact of adverse economic conditions.

This, according to Economist Ruusa Nandago, is largely due to a 22% increase in the mining sector.

Many Namibians experienced the devastating impact of income loss due to numerous economic shocks across the world over the past three years.

Meanwhile, Namibia's mining sector saw the commissioning of the biggest diamond vessel yet built, as well as high commodity prices and export earnings.