Namibia is aiming to utilise its recent discoveries of oil and gas reserves in the Orange Basin and its abundant renewable energy resources, with several green hydrogen projects underway, to stimulate economic growth. President Nangolo Mbumba said the developments are expected to stimulate further growth in adjacent industries, including logistics, agriculture and sustainable manufacturing. “This...
WINDHOEK, Nov. 9 — Namibia’s central bank announced on Wednesday that it is further easing restrictions on home loans in a bid to revive the country’s long-depressed housing and construction sectors. The Bank of Namibia (BoN) said in a statement that a mortgage loan for a second residential property no longer requires any deposit, while...
WINDHOEK, July 14 — Namibia’s central bank announced Wednesday that it is further easing home loan curbs to revitalize the country’s long-depressed housing and construction sectors. The Bank of Namibia said the construction sector had experienced lengthy periods of depressed growth, compounded by dampened credit extension to the property market. The bank predicts that GDP...