Namibia

Namibia’s New Leadership Pledges Swift Reforms and Graft Combating Measures

8 days ago

In a bold declaration marked by optimism and urgency, Namibia’s newly inaugurated leader has committed to an accelerated agenda of reforms aimed at tackling corruption and revitalizing the nation’s economy. Speaking at the official ceremony, the leader laid out a vision not only for governmental improvement but also for enhancing the country’s social welfare system.

Namibia Eyes Chinese Investment for Nuclear Power Development

3 months ago

In a strategic move to bolster its energy sector, Namibia is actively seeking Chinese investment to develop its nuclear power capabilities. This endeavor comes in light of Namibia's commitment to diversifying its energy sources and enhancing energy security within the country. The government is optimistic about the prospects of collaborating with Chinese firms, known for their advancement in nuclear technology.

Namibia Cuts Interest Rate for the Third Consecutive Time, Now at 7%

4 months ago

In a bid to stimulate economic growth, Namibia's central bank has announced a reduction in its benchmark interest rate for the third consecutive instance, bringing it down to 7%. This decisive action was finalized during the bank’s most recent Monetary Policy Committee meeting and reflects ongoing efforts to address the challenges facing the nation's economy.

Namibia Faces Green Bond Issuance Delays Due to EU Initiative

4 months ago

Namibia has reported that the European Union's ongoing initiative is hindering its ability to issue green bonds, a crucial financing tool for the country’s commitment to sustainable development and climate resilience. This setback comes as Namibia looks to enhance its capital markets and attract foreign investments, particularly in projects aimed at combating climate change.

Namibia Seeks $450 Million Boost for Power Generation Expansion

4 months ago

Namibia has embarked on a significant endeavor to bolster its power generation capacity by seeking to raise $450 million. This move aims to enhance the nation's energy infrastructure and address the increasing demand for electricity, which has escalated due to both population growth and economic development.

Kelp Blue Pursues Landmark Move with Africa's First Corporate Blue Bond on Namibia Stock Exchange

5 months ago

Kelp Blue, a pioneering company in the kelp farming sector, is setting its sights on an ambitious financial endeavor by planning to issue Africa's very first corporate blue bond. This groundbreaking move is slated for launch on the Namibia Stock Exchange (NSX) and is designed to attract funds specifically geared towards blue carbon initiatives and sustainability projects.

Namibia's Central Bank Orders Lenders to Provide Drought Relief to Struggling Farmers

5 months ago

In a significant move aimed at alleviating the impact of a devastating drought, Namibia's central bank has mandated commercial banks to extend aid to farmers coping with dire agricultural conditions. This directive comes in light of a prolonged dry spell that has severely affected the country's food production and posed a grave threat to the livelihoods of many Namibians.

Namibia Set to Experience New Oil Drilling Surge with Galp Rig Arrival

5 months ago

Namibia is poised for an exciting new phase in its oil exploration journey as the Portuguese oil company Galp prepares to commence drilling operations in the resource-rich offshore region. This upcoming drilling campaign marks a significant milestone for Namibia, leveraging advanced technology and expert knowledge to tap into promising oil reserves that have garnered global interest from major energy stakeholders.

Namibia Moves Forward with $750 Million Bond Retirement Plan

6 months ago

In a significant development for Namibia's financial landscape, the government announced that it is on course to retire a portion of its $750 million bond. This move reflects the country’s ongoing commitment to managing its debt effectively and improving fiscal stability amidst a challenging economic backdrop.

Namibia’s Central Bank Lowers Interest Rates Amid Declining Inflation

6 months ago

Namibia’s central bank has made the decision to cut interest rates once again, as inflation continues to slip to its lowest level in three years. This move illustrates the bank's ongoing efforts to stimulate the economy while responding to the changing financial landscape. The central bank has reduced the prevailing interest rate by 25 basis points, bringing it down to 5.5%. This latest decrease follows a previous cut made earlier this year, indicating a clear trend in monetary policy aimed at promoting economic growth.