AGP Executive Report
Last update: 6 hours agoMining and Reserves: The Bank of Namibia has bought 425kg of gold from local mines and aims to reach 600kg, using the programme to diversify reserves, which rose to N$59.3 billion in September. Energy Infrastructure: Namport has closed bids for Walvis Bay South Port upgrades and new berths to support offshore oil and gas activity; construction is planned for early 2027. Livestock Under Pressure: Savanna Beef Processors has suspended slaughtering and packing because of foot-and-mouth disease, putting about 240 jobs at risk as it seeks financing and alternative markets. Tourism Investment: Ultimate.earth is investing N$85 million in a Swakopmund boutique hotel, with construction expected to create nearly 200 temporary jobs and 50 permanent roles. Economic Outlook: The central bank says growth faces pressure from FMD, higher fuel costs and a widening trade deficit; its 2026 forecast is 2.1%, while the repo rate has risen to 7%. Uranium: Elevate Uranium narrowed its half-year loss to N$72.8 million as revenue rose and operating costs fell.
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