AGP Executive Report
Last update: 9 hours agoMining and Jobs: President Netumbo Nandi-Ndaitwah has urged mining companies to create lasting jobs, warning against cycling workers through contractors to cut labour costs. The sector contracted 3.1% in the second quarter, though strong metal prices cushioned output; Sinomine’s planned N$4 billion expansion is expected to create up to 1,600 jobs. Regional Expansion: Capricorn Group is entering South Africa with a binding offer for an 81.6% stake in asset financier Centrafin, valued at R788.3 million. Trade and Exports: Namibia’s trade deficit narrowed to N$3.9 billion in August, while a proposed Trade Management Bill would establish a trade commission. The EU’s suspension of some Namibian meat imports over foot-and-mouth disease threatens exporters and jobs. Credit Outlook: Moody’s has lifted its outlook for Namibia and several other sub-Saharan African countries to positive, citing reforms and stronger commodity prices, while warning that debt risks remain. Infrastructure: Chinese-Namibian joint ventures have completed road upgrades in Khomas and Erongo, including a N$231.6 million stretch of Windhoek’s Southern Link.
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