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Chamwe Kaira Namibia’s trade deficit narrowed to N$3.4 billion in September, showing an improvement from the N$5.3 billion shortfall recorded in August. The chief executive officer and statistician general of the Namibia Statistics Agency (NSA), Alex Shimuafeni, said the latest figures also reflect an improvement compared to the N$5.7 billion deficit recorded in the same month last year. “The analysis of Namibia's top trading partners revealed that South Africa maintained its dominance as the country’s largest market for both imports and exports. In terms of goods, the country’s export composition for September was mainly concentrated on commodities of the mining…

Chamwe Kaira Private sector credit extension (PSCE) growth is expected to exceed 6% year-on-year in the fourth quarter, supported by lower lending rates and improved affordability, according to Simonis Storm Securities analyst Almandro Jansen. “The repo rate has been reduced to 6.50% and commercial banks are expected to lower their prime lending rates further by 12.5 basis points before year-end, easing financing costs across mortgages, overdrafts, and installment credits,” Jansen said. PSCE grew by 5.9% year-on-year in September, the highest rate since early 2020.  The growth was driven by strong corporate borrowing in mining, manufacturing, and agriculture, as well as…

Staff Writer Finance Minister Ericah Shafudah described the private sector as the engine of job creation and called for stronger collaboration to improve fiscal performance and reform procurement and tax systems. “A robust domestic capital market is crucial for sustainable development financing,” she said, thanking the banking sector for its role in redeeming Namibia’s Eurobond, which she said showed the country’s financial strength and responsibility. Shafudah made the remarks during the recent FirstRand Namibia mid-term economic breakfast budget review held at the FNB Namibia Parkside Head Office. The event brought together leaders from government and business to discuss the key…

Chamwe Kaira Namibia’s Venus offshore development project is expected to become one of the country’s biggest economic contributors, with potential GDP gains of between N$536 billion and N$800 billion over its 25-year lifespan, according to its environmental and social impact assessment (ESIA). TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners, QatarEnergy International and NAMCOR, hold a Petroleum Exploration Licence for PEL56/Block 2913B, located off the southern coast of Namibia.  Based on exploration and appraisal activities, the companies are studying the feasibility of developing the Venus field to produce light crude oil. The Venus field lies 300 km from…

Staff Writer Fly Namibia has entered into a new partnership with Fastjet, effective 1 November 2025, to offer travellers seamless connections between Windhoek and Harare through Victoria Falls.  The airline said the collaboration aims to improve regional travel and strengthen economic ties across Southern Africa. With aligned schedules between Fly Namibia’s Windhoek–Victoria Falls route and Fastjet’s Victoria Falls–Harare service, passengers can travel more easily between Namibia and Zimbabwe for business or leisure. “This partnership with Fastjet represents progress for regional air travel,” said Nerine Uys, CEO of Fly Namibia. “By connecting Windhoek and Harare through Victoria Falls, we are helping…

Staff Writer Santam Namibia, in partnership with the City of Windhoek, has launched a flood signage project to improve public safety at high-risk river crossings in the capital. The insurer has committed about N$150 000 for the installation of warning and depth marker signs across flood-prone areas identified by the city’s emergency and disaster risk management division. The chief executive officer of Santam Namibia, Franco Feris, said Namibia’s risk landscape has changed in recent years.  “Shifting climate patterns and rapid urbanisation have significantly increased the frequency and intensity of flash floods. The result has been a concerning rise in vehicles…