Browsing: Namibia

• Kenya solidifies its position as East Africa’s tourism hub, with Nairobi chosen to host the Africa Youth in Tourism Innovation Summit for 2025, 2026, and 2027.
• The summit, which draws hundreds of innovators, government leaders, and tourism experts, will boost Kenya’s post-COVID tourism recovery.
• Organized by TEAMS Africa, the event underscores Nairobi’s growing prominence on the global tourism stage following a successful edition in Namibia.

Kenya, East Africa’s travel and tourism industry hub, has yet again cemented its position in the hospitality sector after the capital Nairobi was picked to host the Africa Youth in Tourism Innovation Summit and Challenge (AYTIS) for the years 2025, 2026, and 2027.

This feat further reinforces Kenya as a tourism destination of choice as the industry continues to register growth post the Covid-19 economic fallout.

AYTIS is a platform that is fashioned to promote and uplift innovative investors within the dynamic tourism industry in …

• Namibia’s 100MW Rosh Pinah Solar PV project is poised to accelerate the nation’s pace in achieving renewable energy goals.
• The project will be built by an alliance of China Jiangxi International Economic and Technical Cooperation Co., Ltd. and China New Energy Development (Zhejiang) Co., Ltd.
• Namibia’s reliance on imported electricity has been a challenge to its energy independence.

The presence of Chinese contractors in Africa’s infrastructure journey continues to grow after Namibia on Monday entered into an agreement with contractors from China to develop the country’s largest solar plant.

For Namibia, the 100MW Rosh Pinah Solar PV project is poised to accelerate the nation’s pace in achieving renewable energy goals, while at the same time boosting the country’s energy generation capacity.

However, for analysts, the 18-month project is set to further project growing Chinese presence in the continent’s industrialization and renewable energy quest.

On Monday, Namibia’s state-owned power utility, NamPower, …

• Namibia is fortunate to benefit from the experiences of other oil- and gas-producing states.
• The country’s oil and gas sector is still looking forward to reaching the production phase, but S&P Global analysts don’t anticipate Namibia’s first oil production will come until 2029.
• Further, the country’s first gas-to-power project is scheduled to begin in 2027.

Namibia’s energy sector is still looking forward to reaching the production phase — S&P Global analysts don’t anticipate Namibia’s first oil to come until 2029, and the country’s first gas-to-power project is scheduled to begin in 2027.

Before Namibia achieves these hotly anticipated milestones, Namibian lawmakers can implement thoughtful, …

• Being a latecomer to oil and gas development means that Namibia will be able to leverage innovations and technologies in carbon emission reductions.
• Namibia is well connected to the Southern African Development Community (SADC) region when it comes to power transmission and distribution.
• In an exclusive interview with Energy Capital & Power, Maggy Shino, Petroleum Commissioner of Namibia’s Ministry of Mines and Energy, discusses the country’s efforts to fast-track the development of breakthrough discoveries in the Orange Basin.

Q: What does the pathway to first oil look like for Namibia? Are there any updates on the technical and commercial viabilities of the recent discoveries?

Namibia has been on a roll since 2022, in that nearly every hole that has been drilled in the subsurface has yielded a positive indication of hydrocarbons. Between February 2022 and July 2023, we have had oil discoveries: the Graff-1, Jonker- 1X, La Rona-1 and Lesedi-1X …

• Continuing from the discussion of evolving US-Africa trade relations, a key aspect of this dynamic is the strategic objective of countering Chinese influence on the continent.
• By 2024, Africa is poised to undergo a significant shift in geopolitical and economic dynamics, emerging as a crucial arena for global powers such as China and the US.
• The evolving focus on Africa is driven by its transforming economic landscape, marked by rapid growth, a youthful population, and abundant resources, attracting attention from major players seeking strategic advantages.

By 2024, Africa will have witnessed the beginning of a new age in the geopolitical and economic dynamics of the world. In recent years, the continent has shifted its focus from humanitarian issues and developmental assistance to becoming an important strategic arena for the world’s leading powers, particularly China and the US. Several elements are coming together to highlight Africa’s growing importance internationally, driving this …

• Africa has a capacity of 125GW of hydrogen, second only to wind in terms of renewable energy.
• The Africa Green Hydrogen Alliance (AGHA) aims to produce 30-60 million tonnes of clean hydrogen annually to add up to $126 billion to the continent’s GDP by 2050.
• The gas is an environmentally positive fuel with low emissions when produced with electrolysis powered by renewable energy.

There’s a new powerhouse in African renewables. And it has plenty of experts talking about it. The report “The State of African Energy 2Q 2023 Outlook,” recently released by The African Energy Chamber (AEC), discusses the current and future projections for renewables on the continent. The most exciting finding is the competitive growth within the hydrogen electrolyzer space.

Africa’s current announced capacity of hydrogen, of about 125 gigawatts (GW), has overtaken solar capacity on the continent and is now second only to wind when it comes to …

• About 200,000 people in Windhoek will benefit from AfDB-funded solar lighting project.
• AfDB’s Urban and Municipal Development Fund helps countries invest in climate resilient cities.
• Rapid and uncontrolled urbanization in Namibia’s capital has seen the steady rise in informal settlements. 

An estimated 50,000 homes in Namibia’s informal settlements will benefit from solar power connections as green revolution across African economies picks up speed. The solar project targeting informal settlements in Namibia’s capital city has received a grant of $485,000 from the African Development Bank’s Urban and Municipal Development Fund .

In Windhoek, where around 20 per cent of the population lacks access to power, the “Informal Settlement Renewable Electrification and Upgrading Program” will directly assist almost 200,000 people.

The Urban and Municipal Development Fund of the AfDB supports national socioeconomic development and poverty reduction by assisting governments in funding sustainable urban development for more livable, productive, and climate resilient cities.…

• The 12th edition of The Annual Investment Meeting (AIM), highlighted investment hotspots in various parts of the world.
• The sessions focused on Namibia, ASEAN and the Russia region as well as new investment destinations such as Moscow and Armenia.
• Experts highlighted how the increasing cooperation is leading to a favourable investment climate and opening up new opportunities for businesses.

The 12th edition of the the Annual Investment Meeting (AIM) has highlighted Namibia among other top investment hotspots internationally. AIM, which was hosted in Abu Dhabi, UAE, featured a series of regional and destination forums demonstrating available opportunities in various parts of the world.

In Africa, a special focus was given to Namibia. The session highlighted the southern African country’s potential as an investment hotspot, citing its $13 billion GDP reported in 2022. In addition, the country is rich in oil and gas reserves. Further, Namibia is deploying large-scale projects in …

• A finance-focused panel at the 2023 Namibia International Energy Conference explored new pathways to financing and developing capital-intensive African energy and infrastructure projects.
• As global financial institutions continue to reduce or eliminate fossil fuel lending, emerging producers such as Namibia are seeking to drive local and regional financial participation in capital-intensive projects and trade infrastructure.
• In addition to leveraging foreign investment as an end within itself, panelists discussed how the sector can leverage foreign support as a means of creating local capacity through regional debt and credit-support instruments.

Namibia is looking to increase local investment in large-scale energy projects moving forward, a panel at the 2023 Namibia International Energy Conference, has concluded. 

Under the theme, “Financing Energy & Power Projects: Trends, Outlook & Forecast,” a strategic panel examined how the southern Africa country can finance massive projects and structure deals that benefit regional economies. 

As global financial institutions continue to …

• The annual inflation rate for February 2023 increased by 7.2 per cent compared to 4.5 per cent recorded in February 2022.
• On a monthly basis, inflation rate increased to 0.4 per cent compared to 1.1 per cent registered in the earlier month.
• Load-shedding in South Africa is preventing farmers from buying livestock from Namibia.  

In February, the cost of goods and services increased more sharply and the outlook does not appear promising, particularly regarding food, which saw a 14 per cent hike. The Namibian Statistics Agency disclosed inflation figures for February yesterday, with the month displaying a 7.2 per cent rate, one percentage point higher than January’s inflation rate.

This 7.2 per cent is taking the country back to August 2022 when inflation reached a peak of 7.3 per cent. While most goods and services’ prices have increased overall, service inflation continues to weigh on headline inflation, rising at a …