Finance Minister, Calle Schlettwein, has cut the country’s initial 2017 economic growth forecast of 2.5 percent down to 1.8 -2.3 percent after Namibia slipped into a technical recession in the second quarter.
The NamPower Board was expected to decide this week whether or not the utility will sign a power purchase agreement with Arandis Power, a private company that is planning to set up a 120MW Heavy Fuel Oil power station in Arandis in the Erongo region.
The country’s agricultural sector is expected to grow by 10 percent this year, Institute of Public Policy Research (IPPR) Economist, Klaus Schade, said this week when he spoke about prospects and trends in the economy.
The Development Bank of Namibia (DBN) has been given back its mandate of funding SMEs with an annual turnover of less than N$15 million following the collapse of SME Bank, which is currently under provisional liquidation.
New Government regulations requiring that asset managers invest an increased portion of their assets in Namibia will see billions of dollars being repatriated from beyond Namibian borders, particularly from South Africa.