Edgar Brandt

5 days ago | neweralive.na | Edgar Brandt

The possible upgrading of a Namdeb wind project holds the potential to power diamond mining operations, while additional electricity could be transmitted into the national grid. This is as Namdeb, equally owned by government and the De Beers Group, continues to align its operations with national goals for industrialisation, clean energy transition and sustainable development.

1 week ago | neweralive.na | Edgar Brandt

A leading economist in the country has called the Bank of Namibia’s decision to commence gold accumulation as part of its foreign exchange reserve management strategy as “long-overdue”. The central bank last week announced the decision to include gold, targeting 3% of net foreign exchange reserves, saying it aligns with global central banking trends, given the precious metal’s strategic value in hedging against inflation and enhancing resilience during economic shocks.

1 week ago | neweralive.na | Edgar Brandt

A notable acceleration in corporate credit uptake has resulted in domestic private sector credit extension (PSCE) growing by 5% year-on-year (y/y) in March 2025, up from the 3.9% y/y recorded in February. This marks the strongest pace of credit expansion in five years. Corporate credit constitutes approximately 50% of total domestic credit extended. This increased significantly to 8.2% y/y in March from 5.9% y/y in February.

1 week ago | neweralive.na | Edgar Brandt

The domestic economy maintained a positive growth trajectory during the first quarter of 2025. This was largely supported by strong performance in the mining sector, particularly uranium, gold and zinc as well as notable gains in construction, wholesale and retail trade, communication and tourism. Based on these figures, the central bank expects the domestic economy to grow by 3.8% and 4.0% in 2025 and 2026, respectively, from a 3.7% estimated in 2024.

2 weeks ago | neweralive.na | Edgar Brandt

Namibia instantly became a more attractive international and domestic investment destination when President Netumbo Nandi-Ndaitwah recently announced a reduction in the country’s non-mining corporate tax. A seasoned economist has pointed out that the tax changes combined with other reforms signify a long-term economic structural shift that can propel key sectors.