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Niël Terblanché BRICS member countries, Brazil, Russia, India, China and South Africa, in a landmark decision on August 24 declared the expansion of the grouping by welcoming six new countries into the fold. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have been invited to become full members of BRICS. Announcing the decision at the end of the 15th BRICS summit at Johannesburg, Indian Prime Minister, Narendra Modi said the addition of new members would strengthen the bloc and increase confidence in the idea of a multipolar world order. Meanwhile, the Current Chair of BRICS, South African…

Stefanus Nashama Namibia Investment Promotion and Development Board (NIPDB), says the country’s current marketing strategy is not likely to attract an inflow of foreign direct investments or boost tourism, which are both essential to stimulating economic activities and growth unless urgent steps to develop a national brand are taken. In a media statement the NIPDB Senior Manager for Marketing, Branding and Communications, Catherine Shipushu said as an emerging market, Namibia finds herself frequently competing, either directly or indirectly, with other nations to capture the attention of investors. The current perception of Namibia as ‘Africa’s best-kept secret’ is not likely to…

Stefanus Nashama Namibia Investment Promotion and Development Board (NIPDB), says the country’s current marketing strategy is not likely to attract an inflow of foreign direct investments or boost tourism, which are both essential to stimulating economic activities and growth unless urgent steps to develop a national brand are taken. In a media statement the NIPDB Senior Manager for Marketing, Branding and Communications, Catherine Shipushu said as an emerging market, Namibia finds herself frequently competing, either directly or indirectly, with other nations to capture the attention of investors. The current perception of Namibia as ‘Africa’s best-kept secret’ is not likely to…

Martin Endjala Construction Industry Federation of Namibia Chief Executive Officer, Barbel Kirchner, has attributed the reduction of activities in the construction industry to higher interest rates at local commercial banks. While responding to Windhoek Observer questions this week on the ever-declining activities in the industry, Kirchner said the decline can be a result of increased interest rates on borrowing money from local banks for construction work. Kirchner said with an increase in borrowing costs, one would automatically see that it is increasingly difficult to finance building and construction projects, which impacts building activity negatively as affordability reduces the demand for…

Martin Endjala Despite the announcement by the Bank of Namibia (BoN) this week that the economy is projected to grow by 3.3 percent in the current financial year and in 2024, individuals working outside the mining sector will continue to feel the economic pinch. Economist Ruusa Nandago, told Windhoek Observer this week that the forecasts by the Bank of Namibia are in line with those of FNB as they have also forecasted a 3.3 percent growth for 2023. She is of the view that this growth will be predominantly driven by mining production and exploration activities. She, however, added that…