Namibia’s private sector debt, including liabilities from households, corporations, and non-residents, surged to N$121.1 billion as of February 2024, recent data by Simonis Storm shows. This reflects a year-on-year (y/y) growth of 1.8% but the growth is lower than the 5.1% y/y growth observed in the same month of the previous year. The firm noted...
Namibia’s trade deficit widened significantly to N$3.9 billion in February 2024 compared to January 2024 and February 2023 figures which stood at N$1.8 billion and N$452 million respectively, official data shows. The country’s export earnings plunged 48.9% from N$12 billion recorded in January 2024 to N$6.1 billion, while imports saw a decrease of 27% during...
During February 2024, the trade balance experienced a deficit of N$3.9 billion, marking a notable increase compared to N$1.8 billion in January 2024 and N$452 million in February 2023, according to the Namibia Statistics Agency’s trader bulletin. According to NSA Statistician General, Alex Shimuafeni, South Africa emerged as Namibia’s primary trading partner for both exports...
In a recent study conducted by the Hospitality Association of Namibia (HAN), insights into the country’s hospitality landscape for February were revealed, shedding light on occupancy rates, visitor preferences, and emerging trends. According to Simonis Storm Securities in an analysis last week, the study, which involved 60 participants, unveiled that throughout the month, there were...
Martin Endjala The City of Windhoek has approved 192 building plans for February 2024 This marks a significant increase from 76 building plans approved in January 2024. The plans approved in February translate into a total value of N$190.7 million which is substantially more than the N$53.8 million recorded in January. It also translates to...
Total new vehicle sales reached 1102 units in February, nearly matching the sales figures from February last year, which stood at 1103 units. This represents a slight contraction of 0.1% year on year but an increase of 16% month on month. Simonis Storm Securities said historically, February tends to witness higher sales volumes compared to...
Namibia’s visitor arrivals significantly increased in February to 37,207 passengers, reflecting an 8.1% month-on-month surge and 26.1% year-on-year rise, official figures show. According to a tourism report by IJG Securities, arrivals in February 2024 exceeded pre-pandemic levels from February 2019 by 15.5%. The increase is attributed to a rise of 11.4% in international arrivals and...
Namibia’s campsite occupancy soared in February 2024, with guests around the country and the SADC region increasing to 577 during the month compared to 22 in January, latest data shows. According to Simonis Storm’s latest report, the surge in visitor numbers contributed to a total of 202 campsite nights for the month, indicating a significant...
The latest figures released by the National Statistics Agency indicate a notable decrease in the annual inflation rate for February 2024 compared to the same period last year. The annual inflation rate for February 2024 stood at 5%, a considerable decline from the 7.2% recorded in February 2023 according to NSA’s consumer price index. Additionally,...
In the local market this week, both the NSX Local index and the NSX Overall Index experienced declines, with the NSX Local index down by 1.05% to 671.6, and the NSX Overall Index down by 0.93% to 1510.9 as of March 5, 2024. Among the local companies listed on the exchange, FirstRand Namibia retained its...