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EAN Hosted a Public Discussion on 2025 National Budget - #Issue #25☕

The Economic Association of Namibia (EAN) held a pivotal public discussion yesterday at the Hilton Hotel in Windhoek, under the theme "Balancing Growth and Social Upliftment: The National Budget in a New Dispensation." The event brought together policymakers, economists, academics, and civil society to analyze the 2025 National Budget and its alignment with the development goals of President Netumbo Nandi-Ndaitwah’s administration.

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Good morning. Here is another Wednesday edition.

Featured Updates:

  • NIDA’s Turnaround Plan: After a N$102M loss in 2024, NIDA eyes recovery in 1-2 years, leaning on its N$3B asset base and new revenue streams.

  • Express Credit Joins Sandbox: NAMFISA’s Regulatory Sandbox welcomes Express Credit, testing financial innovation under strict oversight.

  • EAN Budget Talk: Yesterday’s Windhoek event dissected the 2025 budget, balancing growth with social priorities under Nandi-Ndaitwah’s vision.

Happy Wednesday! Enjoy the issue.☕

— Team Revolox

MARKET CORNER

NSX INDEX Overview

Index

Price

% Change

YoY % Change

YTD % Change

NSX Overall

1 811.35

+2.08%

+18.66%

+0.56%

NSX Local

715.49

+0.02%

+4.34%

+3.50%

TOP MOVERS: NSX Local Stocks

Stock

Price (N$)

% Change

Volume(Shares Traded)

FirstRand Namibia

46.91

+0.11%

780

Mobile Telecommunications Ltd

8.25

0.00%

3 500

Letshego Holdings Namibia Ltd

6.00

0.00%

0

Nictus Holdings

2.90

0.00%

0

Capricorn Group Namibia

21.26

0.00%

0

ECONOMIC PULSE

Indicator

Value

Percentage %

Real GDP (Dec 23)

151 359.17M

+4.16%

Nominal GDP (Dec 23)

227 830.81M

+10.84%

Inflation (Feb 25)

3.63%

+13.98%

Namibian Repo Rate (Feb 25)

6.75

-3.57%

FOREIGN EXCHANGE RATES

Currency Pair

Value

Percentage %

USD-NAD

18.25

+0.04%

EUR-NAD

19.72

+0.31%

GBP-NAD

23.64

-0.21%

*Data as of Wednesday 26-03-2025 7:45am

BUSINESS & ECONOMY

Image credit: The brief

NIDA Projects Financial Turnaround After N$102 Million Loss in 2024

The Namibia Industrial Development Agency (NIDA) has unveiled a bold strategic plan to achieve financial recovery within the next two years after recording an operating loss of N$102 million for the 2024 financial year. Despite challenges, the agency remains optimistic about leveraging its substantial asset base, valued at N$3 billion, to drive Namibia’s industrialization agenda.

Key Highlights:

  • Operating Losses: NIDA has been in a loss position for six consecutive years, with total costs rising from N$181 million to N$231 million in 2024. Revenue increased by 20%, reaching N$165 million, but still fell short of covering expenses.

  • Strategic Recovery Plan: CEO Richwell Lukonga emphasized that turning around the agency will take one to two years, relying on an integrated business plan and revised models to achieve profitability.

  • Asset Growth: NIDA’s assets surged by 30% over six years, driven by a 73% increase in investment properties, now valued at N$789 million.

Challenges and Opportunities:

  • Cost-to-Income Ratio: NIDA’s cost-to-income ratio averaged 143%, highlighting inefficiencies that need urgent attention.

  • Revenue Diversification: The agency plans to expand income streams through agri-business sales, property rentals, and co-investment projects with public and private sector partners.

The Bottom Line:

While financial recovery will take time, NIDA’s robust asset base and strategic focus position it as a key player in Namibia’s industrialization efforts. With targeted investments and improved operational efficiency, the agency aims to fulfill its mandate of driving economic growth and reducing poverty across the country.

Source: The Brief

Image Credit: The Brief

Express Credit Enters NAMFISA’s Regulatory Sandbox

Express Credit Cash Advance (Pty) Ltd has become the third participant in the Namibia Financial Institutions Supervisory Authority (NAMFISA) Regulatory Sandbox, marking a milestone in Namibia’s push for financial innovation, as announced on March 25, 2025.

Key Highlights:

Joining the Sandbox: Express Credit officially signed an agreement to participate in NAMFISA’s Regulatory Sandbox, a controlled testing ground for non-bank financial service providers to trial innovative products and business models under regulatory supervision.

Driving Innovation: The sandbox initiative is designed to foster creativity in financial services, boost inclusion, and ensure consumer protection, all while keeping a close eye on compliance and market stability. NAMFISA will oversee Express Credit’s innovation, evaluating its performance and its impact on consumers and the broader non-bank financial sector.

A Commitment to Responsibility: NAMFISA underscored its dedication to balancing innovation with stability, stating, “It is crucial that responsible innovation meets the evolving financial needs of Namibian consumers.” This reflects the regulator’s dual focus on progress and protection.

Challenges and Opportunities:

Testing Ground for Growth: The sandbox offers Express Credit a chance to experiment with new ideas in a structured setting, potentially unlocking solutions tailored to Namibia’s financial landscape while addressing risks under NAMFISA’s watchful eye.

Enhancing Financial Access: By supporting such initiatives, NAMFISA aims to bridge gaps in financial services, ensuring that innovation benefits consumers across the country without compromising fairness or system integrity.

The Bottom Line:

Express Credit’s entry into NAMFISA’s Regulatory Sandbox signals a step forward in Namibia’s journey toward a more innovative and inclusive financial sector. As the third participant, it joins a growing effort to test bold ideas that could reshape how financial services are delivered—safely and responsibly—under NAMFISA’s guidance. This move highlights the regulator’s role as both a gatekeeper and a catalyst for change in Namibia’s evolving economy.

Source: The Brief

Image Credit: The Brief

EAN Hosted a Public Discussion on 2025 National Budget: Balancing Growth and Social Upliftment

The Economic Association of Namibia (EAN) held a pivotal public discussion yesterday at the Hilton Hotel in Windhoek, under the theme "Balancing Growth and Social Upliftment: The National Budget in a New Dispensation." The event brought together policymakers, economists, academics, and civil society to analyze the 2025 National Budget and its alignment with the development goals of President Netumbo Nandi-Ndaitwah’s administration.

Key Highlights:

  • Focus Areas:
    Discussions centered on social sector expenditure in education, health, and welfare, alongside infrastructure development—a key promise of the new President. Fiscal policy measures to stimulate job creation and balance government spending with fiscal discipline were also explored.

  • Expert Panel:
    The panel featured Jason Kasuto (EAN Chairperson), Prof. Teresia Kaulihowa (Associate Dean at NUST), Floris Bergh (Chief Economist at Capricorn Asset Management), and Salomo Hei (Managing Director of High Economic Intelligence).

  • Strategic Insights:
    Presenters emphasized the budget’s role in addressing Namibia’s pressing economic challenges while ensuring sustainable growth and social upliftment.

Objectives of the Discussion:

  1. Aligning Budget with Development Goals:
    Exploring how the budget reflects the aspirations of the new administration.

  2. Social Sector Prioritization:
    Assessing increased expenditure on education, health, and welfare to foster inclusive growth.

  3. Infrastructure Investment:
    Evaluating plans for urban development and housing to address Namibia’s growing needs.

The Bottom Line:

As Namibia transitions into a new era under President Nandi-Ndaitwah’s leadership, this discussion provided critical insights into how the 2025 National Budget can drive economic growth while uplifting society. With collaboration among stakeholders, the event underscored the importance of aligning fiscal policies with national priorities for a prosperous future.

Source: The Brief & EAN

TECH

Eduvision Logo

More than 12k Namibian students connected through Paratus Namibia’s Eduvision

Paratus Namibia is driving a transformative e-learning initiative, Eduvision, which has connected over 12,000 students in remote Namibian schools to quality digital education, narrowing the gap in access to learning opportunities across the country.

Key Highlights:

Empowering Remote Education: Eduvision, backed by Paratus Namibia, delivers reliable internet access to underserved schools, enabling over 12,000 students to engage in interactive, real-time learning. What began with digital boards at Edugate Academy and Tsumkwe Secondary School has grown into a network spanning multiple regions.

Leveraging Robust Infrastructure: Paratus’ advanced internet framework, including GEO satellite technology, ensures students from Katima Mulilo in the northeast to Tses in the south, and Khorixas in the west to Gam in the east, can access expert instruction and online resources across nine regions.

Holistic Support: Beyond connectivity, Eduvision provides food, clothing, and essentials to struggling communities, while a dedicated Paratus technical team keeps digital classrooms operational, offering critical support in areas where resources are limited.

Challenges and Opportunities:

Overcoming Isolation: The initiative tackles the challenge of reaching remote areas with scarce infrastructure, using satellite and microwave solutions like those at Niitembu Primary and A. Shipena Secondary Schools to integrate AI platforms and expand learning possibilities.

Building a Future-Ready Namibia: By fostering digital inclusion, Eduvision equips students with tools to compete globally, creating pathways for future leaders. Barney Harmse, Executive Chairman of Paratus Group, emphasizes, “Access to education is a powerful tool for change… it’s about creating opportunities for every Namibian child to reach their potential.”

The Bottom Line:

Eduvision, powered by Paratus Namibia, is more than a tech project—it’s a movement to empower Namibia’s next generation. With over 12,000 students already connected and milestones like the recent school integrations, the initiative is paving the way for a digitally inclusive future. Harmse sums it up: “The impact is far-reaching because better education empowers pioneers.”

Image Credit: TechAfrica News

Cassava Technologies to build AI factory to serve Africa

Cassava Technologies, founded by Zimbabwean telecommunications leader Strive Masiyiwa, has partnered with Nvidia to establish Africa’s first artificial intelligence “factory.” The initiative begins in South Africa by June 2025, with Cassava deploying Nvidia’s advanced computing and AI software at its data centers, operated by its subsidiary Africa Data Centres.

Subsequent phases will extend the project to Egypt, Kenya, Morocco, and Nigeria, according to a recent company statement. Masiyiwa highlighted that this AI infrastructure is vital for Africa to leverage the fourth industrial revolution, equipping businesses, startups, and researchers with state-of-the-art tools to foster innovation within the continent.

As Nvidia’s first cloud partner in Africa, Cassava aims to introduce accelerated computing across the region. Meanwhile, Microsoft and UAE-based G42 have proposed a $1 billion geothermal-powered data center in Kenya to bolster East Africa’s cloud capacity, reflecting a broader surge in regional tech investment.

Key Highlights:

  1. Africa’s first AI “factory” launches in South Africa by June 2025.

  2. Expansion planned for Egypt, Kenya, Morocco, and Nigeria.

  3. Regional developments may influence Namibia’s tech trajectory.

Why This Matters: While Namibia isn’t directly involved, Cassava’s ambitious project could set a precedent for technological advancement in southern Africa, potentially encouraging local stakeholders to explore similar opportunities in the near future.

Image Credit; Breathe

Microsoft adds AI-powered deep research tools to Copilot

Microsoft is stepping up its AI game with new “deep research” tools for Microsoft 365 Copilot, set to enhance workplace productivity. The tech giant unveiled two specialized agents: Researcher and Analyst. Researcher, powered by OpenAI’s deep research model, integrates advanced search capabilities to craft detailed analyses like go-to-market strategies and client reports, pulling from both web and workplace data. Analyst, built on OpenAI’s o3-mini reasoning model, focuses on advanced data crunching, using iterative problem-solving and Python coding to deliver precise insights.

What sets these tools apart?

They tap into third-party connectors—think Salesforce, ServiceNow, and Confluence—merging external data with internal files for a richer output. However, challenges remain, as these models can occasionally misstep, citing shaky sources or drawing flawed conclusions.

Key Highlights:

  1. Researcher and Analyst debut in Microsoft 365 Copilot in April 2025 via the Frontier program.

  2. Tools blend web data with workplace systems for smarter results.

  3. Namibia’s businesses could soon leverage these for sharper decision-making.

Why This Matters: As AI tools evolve, Namibian firms plugged into Microsoft 365 might gain a competitive edge, provided they navigate the tech’s quirks. This could signal a broader push for AI adoption across the region’s business landscape.

Source: TechCrunch

Software Giant SAP Crowned Europe’s Most Valuable Company

In a significant shift within Europe’s corporate landscape, German software giant SAP has surpassed Danish healthcare leader Novo Nordisk to claim the title of the continent’s most valuable company by market capitalization.

Key Highlights:

A New European Leader: On March 24, 2025, SAP overtook Novo Nordisk, reaching a market cap of US$340 billion by 11am SAST, edging out its Danish rival, according to LSEG Workspace data.

Powering Business with Software: As Europe’s largest software maker, SAP provides critical business application solutions—spanning finance, sales, supply chain, and more—used by companies worldwide. Its dominance in this space has fueled its rise.

A Stellar Performance: SAP’s shares have soared, delivering a 160% return since the end of 2022, dwarfing the Stoxx 600 index’s 28% gain over the same period. The surge is tied to optimism around its cloud business and its potential to capitalize on generative AI investments.

Challenges and Opportunities:

Market Dynamics: While SAP’s shares are up 7% in 2025—slightly lagging the Stoxx 600’s 8.3% year-to-date rise—its long-term performance signals robust investor confidence. Meanwhile, Novo Nordisk has stumbled, with its stock hit by disappointing trial results for its experimental obesity drug, Cagrisema.

AI-Driven Growth: SAP’s focus on cloud computing and generative AI positions it to ride the wave of technological innovation, potentially widening its lead in the European market.

The Bottom Line:

SAP’s ascent to Europe’s top spot underscores its transformation into a tech powerhouse, outpacing competitors like Novo Nordisk and former leader LVMH. This milestone, marked on March 24, 2025, reflects not just SAP’s financial success but its strategic embrace of emerging technologies. Europe’s corporate crown now rests in Walldorf, Germany—and SAP shows no signs of slowing down.

Source: Reuters, Lucy Raitano and Samuel Indyk

EVENTS

Image Credit: MOF

Namibia’s 2025-2026 National Budget: What to Expect

On 27 March 2025, Namibia’s Finance Minister, Ericah Shafudah, will present the 2025-2026 national budget. This key event will outline the government’s financial plan amid economic growth, debt challenges, and social needs.

Here’s what to anticipate:

  • Economic Boost: Expect tax cuts and Special Economic Zone incentives to attract investment, building on 4.0% projected growth.

  • Debt Focus: Funds will likely prioritize repaying two-thirds of a US$750 million Eurobond due in October 2025, with N$2.0 billion allocated alongside prior savings.

  • Social Support: Increases in grants (e.g., old-age pensions, went up from N$1,400 to N$1,600 in 2024) and education/health spending are expected.

  • Infrastructure: More investment in railways, energy, and water to enhance trade and living standards - a priority area of the new administration.

  • Tax and Jobs: Relief for households and small businesses, plus youth skills programs to tackle unemployment.

  • Sustainability: Climate resilience and economic diversification may see new funding.

The Bottom Line:

Facing a tight fiscal balancing act, the budget aims to sustain growth while honoring Namibia’s inclusive vision. Details will unfold Thursday, shaping the nation’s path forward.

PERSONAL DEVELOPMENT

The quote "Believe you can and you're halfway there" is often attributed to Theodore Roosevelt. This phrase emphasizes the importance of self-belief in achieving success.

Application in Life

  • Motivation: This quote serves as a powerful motivational tool, encouraging individuals to trust in their abilities and strive for their aspirations.

  • Goal Achievement: It underscores the importance of combining self-belief with diligent effort and strategic planning to achieve success.

  • Personal Growth: The quote promotes a growth mindset, encouraging individuals to view challenges as opportunities for growth and development.

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