Browsing: Namibia

• 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 …

Senegal’s oil and gas discoveries account for only 0.07 per cent and 0.5 per cent, respectively, of world reserves.

But Senegal’s Petroleum and Energies Minister Sophie Gladima said, “they are important enough to radically change the economy and industrial fabric of our country and thereby its future prospects.”

“Just exploiting our hydrocarbons will enable us to accelerate public access to electricity and, above all, to lower the cost of production and encourage industrialisation.”

She further underlined the legal framework needed to bring thousands of Senegalese jobs into the sector and the setting up of the National Institute of Oil and Gas to turn out a highly qualified workforce.

Funny enough, Namibia, also admitted as a member, is not yet producing any oil. Namibia recently announced that it would consider joining the Organization of Petroleum Exporting Countries if the oil fields are found to be large enough for commercial development.…

According to the statement, the Forum will have several interactive engagements and presentations focusing on opportunities for Namibian and EU traders, agriculture and agro-processing, manufacturing, and trade facilitation and logistics.

The ministry of trade serves as the coordinator for the plan’s initial goal, which is to provide improved coordination and cooperation across institutions and organizations addressing areas related to EPA implementation.

It is also concentrated on establishing and enhancing the performance of important institutions involved in EPA implementation.

Making a case for technical support to strengthen the necessary legal, institutional, and infrastructure frameworks for Namibia’s EPA implementation is the third point of emphasis.…

FlyNamibia will adopt Airlink’s “4Z” International Air Transport Association (IATA) designator for its ticket sales and scheduled flights under a commercial franchise agreement. Although it will continue to operate under its own commercial risk.

Namibia’s only scheduled carrier will retain its own corporate identity, brand, and aircraft livery.

According to an announcement made at a news conference in Windhoek on September 28, 2022. FlyNamibia’s inventory will be promoted on Airlink’s reservation system and through its international codeshare partnerships and the changes will come into effect as soon as practicable.

Airlink and FlyNamibia will also optimise their schedules to provide the most convenient connections between their respective flights and with long-haul intercontinental flights provided by Airlink’s other commercial partners, which include more than 20 of the world’s leading global airlines.…

The regulator said retailers would be free to allocate up to 10% of chilled space/refrigerators in each beverage cooler owned by NBL or Distell Namibia in any on- and off-consumption outlet in Namibia.

“This allocation right will apply only to products manufactured or packaged in Namibia by Namibian-owned and Namibian-controlled companies. The existing NBL commercial policy must be amended, and the merged entity will educate its employees and inform the market of the new changes to its commercial policy,” the conditions read.

The commission said it identified entry barriers as a concern, particularly the ability of small Namibian companies to enter the market.

NBL’s commercial policy prohibited retailers from placing other products in NBL-branded refrigerators. After the merger, the likelihood of this policy being enforced could deter or limit the entry of Namibian-owned and Namibian-controlled undertakings into the market.…

Once fully embraced by all Member States, the free movement of people within Africa is expected to have many important positive effects, including an increase in intra-African trade, commerce, and tourism; easier labour mobility; knowledge and skill sharing within Africa; the promotion of pan-African identity, social integration, and tourism; an improvement in trans-border infrastructure and shared development; the encouragement of an all-encompassing approach to border management; and the promotion of the rule of law, human rights, and shared development

Nationals of Namibia and Botswana will no longer require passports to travel between the two nations after the presidents of those nations decided to open their borders to one another.

The declaration was made at the opening ceremony of the Botswana-Namibia binational commission at the Gaborone International Convention Center by Namibian President Hage Geingob.…

Paladin is restarting its Langer Heinrich uranium mine in Namibia that was idled due to low prices. Australian uranium producers, including Paladin, have raised close to US$282.08 million in share sales this year to fund exploration and resuscitate mines.

The current primary uranium supply is unable to meet demand, and the deficit is being met by secondary supplies and inventory drawdowns, Paladin CEO Ian Purdy said at the Digger & Dealers Mining Forum in Kalgoorlie, Australia.

The average annual deficit is projected to be in the range of 40 million pounds over the coming decade, he told the forum.…