REVOLOX MEDIA | TODAY’S ISSUE

Welcome to Revolox Media — your guide to Namibia’s economic shifts, investment moves, and global market turns.

Here’s what’s making headlines today:

• Namibia’s ICT sector secures N$1.2 billion in new investment, now contributing 2.5% to national GDP and cementing its role in digital growth.

• Warning signs for investment momentum as the NIPDB faces a downgrade, raising concerns about Namibia’s competitiveness.

• A piece of Namibia’s cosmic heritage goes global — a meteorite sells for over N$34 million to an American buyer in a Dutch auction.

• StanChart forecasts a 50 basis point Fed rate cut next week, citing weak US jobs data as the trigger for monetary easing.

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BUSINESS & ECONOMY

Namibian Meteorite Sells for Over N$34 Million to American Buyer at Dutch Auction

In a stunning auction result in Noordwijk, the Netherlands, an American buyer paid over N$34 million (€1.7 million) for a remarkable 240-kilogram iron meteorite originating from Namibia. Including auction fees, the final price is expected to exceed N$40 million (€2 million), nearly double the pre-sale estimates.

The meteorite, a striking metallic specimen that fell near Namibia’s Gibeon village thousands of years ago, is one of Africa’s most significant celestial finds. It is also the largest iron meteorite ever auctioned in the Netherlands.

Previously part of the Mercurius Observatory’s collection in Dordrecht since 2004, the meteorite was recently exhibited at the Space Expo museum—the auction venue. The observatory decided to sell the prized object to fund an ambitious new project.

Auctioneer Bradley Hessink noted strong international interest with eighteen registered bidders, leading to a final hammer price well above expectations of N$16–20 million (€800,000–1 million). He attributed the high price to growing global demand for rare meteorites.

The winning bidder remains confidential under privacy rules but is confirmed to be an American entity, either a private collector or institution.

Transforming the Observatory’s Future

The observatory plans to use the auction proceeds to fully finance a new planetarium. “Thanks to this sale, we can build a place where children and visitors experience the universe in new ways,” the observatory said, underscoring the meteorite’s legacy as an enduring educational inspiration.

Source: BusinessExpress

Namibia Risks Losing Investment Momentum as NIPDB Faces Downgrade

The government is on the brink of a strategic misstep that could cost Namibia vital investment, economic growth, and jobs. Recent reports reveal plans to downgrade the Namibia Investment Promotion and Development Board (NIPDB), moving it from reporting directly to the president to becoming a department within the newly restructured Ministry of International Relations and Trade.

This change coincides with the dismantling of the old Ministry of Industrialisation and Trade, splitting trade functions to international relations and industry functions to mines and energy. Notably, the NIPDB was absent from key policy documents like the SWAPO Manifesto and National Development Plan 6, signaling waning priority.

NIPDB’s Journey and Challenges

When President Hage Geingob established the NIPDB in 2020, it was welcomed as a serious commitment to attracting investment—an improvement over the prior, less effective Namibian Investment Centre (NIC). Led by entrepreneur Nangula Uaandja, the NIPDB received over N$700 million in public funding over six years.

Though NIPDB reports highlight an impressive project pipeline of N$174.86 billion—covering leads, investment decisions, deployed capital, and operational projects—questions remain about tangible outcomes versus expectations. Foreign investors often praised NIPDB as one of the few government agencies providing a friendly interface, yet political uncertainties cloud the full picture.

The Urgency to Reverse Declining Private Investment

Namibia’s private investment has been in decline since the global financial crisis. Private sector investment is crucial for growth and job creation. Without it, the country faces stagnation.

Focus on the booming offshore oil and gas sector risks overshadowing broader economic development. Despite massive investments potentially reaching US$15 billion, oil and gas projects generate few jobs. Namibia needs to diversify investment focus beyond extractive industries.

A Vision for NIPDB II

For effective investment promotion, the promoted product—Namibia’s economic environment—must be competitive. The NIPDB’s placement in the president’s office gave hope for tackling political interference, policy uncertainty, regulatory hurdles, and bureaucratic red tape that deter investors.

An independent NIPDB with a strong board of credible public and private sector leaders could still succeed if insulated from political whims.

Namibia’s private sector remains small, risk-averse, and inward-looking. Foreign investors bring much-needed capital, ideas, and expertise but must see clear incentives to invest.

Five Key Elements for NIPDB II Success

1. Leadership by a strong figure with ministerial status empowered to oversee reforms that protect property rights, establish stable tax policies, ensure dispute resolution, and guarantee profit repatriation.

2. A resilient board with a clear mandate to resist political pressure.

3. Reliable government funding supplemented by fees charged to investors for certain services.

4. Development of in-house expertise to proactively attract high-quality investors rather than passively processing inquiries.

5. Legal underpinning through an investment act focused on attracting genuine investors without micromanaging their decisions.

Avoiding a Return to the Past

If the NIPDB is reduced back to the old inactive NIC model, Namibia risks becoming “a giant petrol station with a country attached,” overly dependent on oil and gas while neglecting diversified growth.

Source: The Namibian

StanChart Predicts Federal Reserve to Cut Rates by 50 Basis Points Next Week Following Weak Jobs Report

Following disappointing U.S. employment data showing just 22,000 jobs added in August—far below expectations—the markets and analysts are increasingly anticipating a significant Federal Reserve rate cut at the September 16-17 policy meeting. Standard Chartered (StanChart) now expects the Fed to slash interest rates by 50 basis points, doubling the commonly forecasted 25-basis-point reduction.

The weak labor market data, including downward revisions to previous months and rising unemployment to 4.3%, has heightened concerns that the U.S. economy may be heading toward a downturn. This shifting landscape has prompted investors to price in a faster and deeper monetary easing path.

While the traditional view held that the Fed would cautiously cut rates by a quarter point, some economists and strategists argue the measured pace may no longer suffice given the “cracks” appearing in the labor market—the main pillar of the economy.

The outcome still depends heavily on upcoming inflation reports, but the mounting evidence in jobs data strengthens the case for a more aggressive “insurance cut” of 50 basis points to support growth and employment.

Following the September meeting, markets are now pricing in up to three rate reductions this year and further easing in 2026, potentially driving benchmark rates down to around 3%.

Source: Reuters

TECH

Namibia’s ICT Sector Attracts N$1.2 Billion Investment, Contributes 2.5% to GDP

The Communications Regulatory Authority of Namibia (CRAN) reports that the country’s Information and Communication Technology (ICT) sector drew N$1.2 billion in investments over the past year and contributes an estimated 2.5% to Namibia’s Gross Domestic Product (GDP).

At the Digital Transformation and Entrepreneurship Business Breakfast, CRAN’s Executive for Economics and Market Development, Helene Vosloo, revealed telecommunications licensees generated N$1.6 billion in revenue in the last quarter, while broadcasting contributed nearly N$1 billion annually.

“The telecommunications sector is substantial, with license revenue at N$1.6 billion and broadcasting nearly N$1 billion last year. Total ICT sector investment reached N$1.2 billion, contributing 2.5% to GDP in real terms,” Vosloo said.

Sector Overview and Connectivity Stats

Namibia currently hosts 58 commercial telecommunications licensees alongside nonprofit operators, broadcasters, and one postal licensee. Active SIM cards number 2.6 million, covering 86% of the population, down from over 120% previously due to SIM registration rules and restructured operator packages encouraging recharge of existing SIMs.

Mobile broadband users total 1.6 million, with around 100,000 fixed broadband subscribers. Fibre connections have rapidly expanded to 44,000, growing at 6–10% annually. The Ministry of ICT has set a new minimum broadband speed standard of 25 Mbps.

Though sector GDP contribution appears modest due to reliance on voice traffic metrics, Vosloo stressed that industry revenue indicates a much stronger economic impact.

Rural Connectivity and Universal Service Fund Initiatives

Despite achieving 91% coverage, certain rural areas remain unconnected. To address this, N$31 million from the Universal Service Fund will support the rollout of nine 4G towers by March next year, bringing connectivity to underserved villages and providing free internet access to 21 schools and health centers for seven years.

Affordability Challenges and Taxation Inequities

CRAN CEO Emilia Nghikembua highlighted affordability as a key obstacle. Prepaid customers, mostly low-income users, pay 15% VAT on services, making ICT access costlier compared to post-paid customers.

“We are committed to tackling these challenges by working to reduce taxes on smartphones and services. Currently, post-paid providers avoid certain taxes that prepaid users must pay—these anomalies are under review to enhance affordability,” Nghikembua explained.

Source: The Brief

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