US Imposes 21% Import Tariff on Namibian Goods - Issue #29☕

Good Morning. Welcome to your Friday edition. Here is what you need to know to wrap up the week:

Featured Updates:

• Household Debt Dips: Namibians owed N$68.4 billion in February, down N$143.5 million from January. Growth’s slow at 2.6% yearly—folks are dodging debt, but car loans are still hot at 12.3% growth!

• Exports Hit N$10.1 Billion: In February Namibia brought in N$10.1 billion from uranium, gold, and fish, though imports at N$12.2 billion left a N$2 billion gap. Diamonds and copper took a hit, but wine imports? N$67.2 million!

• US Slaps 21% Tariff: Starting April 9, Namibian exports like uranium, beef and fish face a 21% US tariff, thanks to Trump’s “reciprocal” trade push. With N$4.9 billion shipped to the US last year, it’s a Friday sting.

• Gadget Prices to Rise: Those tariffs will hike tech costs—think 20% more for phones by mid-2025. Stockpiles might delay it, but your next iPhone’s pricier!

• Midjourney’s New AI Art: Midjourney’s V7 image model dropped Thursday, making sharp, personalized pics—like dragons or Ghibli-style art. Free to try, it’s a fun Friday creative boost!

Enjoy the read and have a blessed weekend ahead! ☕

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BUSINESS & FINANCE

Household Debt Declines to N$68.4 Billion in February

Namibia’s household debt took a little breather in February, dipping to N$68.4 billion, a modest drop of N$143.5 million from January, according to the folks at Simonis Storm. Looks like Namibians are tightening their belts, or maybe just hiding from the debt collector.

Key Highlights:

Households Play It Safe

Simonis Storm Junior Economist Almandro Jansen spilled the beans: “Household borrowing is about as lively as a rainy day in the desert, thanks to sluggish wage growth and the rising cost of keeping up with the neighbours.” Total household credit growth flatlined at 2.6% year-on-year (y/y), a far cry from the 4.3% pep it had last year.

Corporate Cash Keeps Flowing

Meanwhile, businesses are flexing their wallets, pushing corporate debt to N$49.4 billion with a cheeky N$129 million bump. Corporate credit grew by 5.9% y/y—down a smidge from January’s 6.1%—proving companies are still braver than households when it comes to dancing with the banks.

What’s Happening With the Wallets?

• Home Loans Limp Along: Mortgage credit for households crawled up by 0.7% y/y, barely better than January’s 0.3%. “Buying a house feels more like winning the lottery these days,” Jansen quipped, pointing to sky-high prices keeping dream homes out of reach.

• No More Splurging: Other loans shrank to 7.9% y/y growth from 8.1%, suggesting the post-holiday shopping spree guilt has kicked in. Overdrafts? They plummeted by -13.2% y/y—households are apparently done begging the bank for a quick fix.

• Car Craze Holds Steady: Instalment and leasing credit revved up at 12.3% y/y, with car sales zooming 10.4% higher. “Namibians might be broke, but they’ll still drive away in style,” Jansen chuckled.

• Businesses Bounce Back: Corporate overdrafts flipped from a -7.0% y/y slump to a 0.3% gain, while instalment credit slowed to 20.4% y/y from 22.7%. Mortgage loans even peeked into positive territory at 0.2% y/y—businesses are dipping their toes back into the property pool.

Impact on Namibians and the Economy:

Households Feel the Squeeze

With private sector credit extension (PSCE) growth easing to 3.9% y/y from 4.1% in January, households are stuck in neutral. “No tax breaks in the budget means less cash for braai and bills—guess we’re all eating noodles now,” Jansen said with a grin. Still, PSCE is miles ahead of last year’s measly 1.7%, mostly thanks to businesses picking up the slack.

Businesses See Sunshine

Corporate borrowing’s holding strong, even if manufacturing, mining, and fishing are having a bit of a sulk. A recent corporate tax cut from 30% to 28%—plus some decent rain for the farmers—might just tempt companies to splash out more. “Lower taxes and greener fields? Sounds like a recipe for a business boom,” Jansen mused.

The Bottom Line:

Namibia’s households are playing it safe, dodging debt like it’s a pothole on the B1, while businesses are keeping the credit wheels turning. With a little policy nudge and some luck from the weather, the economy might just shift gears—though for now, it’s less “vroom” and more “cruising with caution.”

Source: The Brief

Namibia Bags N$10.1 Billion from Exports in February

Namibia raked in N$10.1 billion from exports in February 2025, cashing in on uranium, gold, fish, and some slick petroleum oils. But don’t pop the champagne just yet, imports hit N$12.2 billion, leaving us N$2 billion in the red, according to the Namibia Statistics Agency (NSA).

What’s Hot and What’s Not:

Export Stars

“Mining’s the golden goose this month,” said NSA boss Alex Shimuafeni, probably while sipping a coffee stronger than uranium ore. Top earners included uranium, non-monetary gold, petroleum oils, and some fancy inorganic chemicals. Fish swam in as the only non-mineral VIP, proving it’s not just for Friday braais.

The Losers

Diamonds took a N$647 million tumble, guess they are not forever after all. Copper dropped N$268 million, nickel slumped N$212 million, and fruits and nuts fell N$159 million. Looks like our export basket’s feeling a bit bruised.

Import Savings

On the flip side, we spent less on copper ores (down N$1.6 billion, phew!), aircraft gear (N$487 million less), fertilisers (N$144 million), steel pipes (N$139 million), and crude minerals (N$65 million). Maybe we are finally learning to shop smarter?

Wine and Dine Stats

Namibia splashed N$67.2 million on wines, mostly from South Africa and France—cheers to that! But we only shipped out N$5.5 million worth, mostly to Kenya and the DRC. Over the past year, we’ve guzzled N$76.7 million in imports and exported a measly N$7 million. Clearly, we’re better at drinking it than selling it!

Who’s Buying, Who’s Selling?

• Manufacturing Muscle: This sector led the charge, pulling in N$6.3 billion (62.2% of the total), though it’s down N$354 million from January. Still, not bad for making stuff!

• Trade Wins: We scored surpluses of N$1.1 billion with China, N$803 million with Zambia, and N$521 million with France.

• Trade Woes: South Africa left us a negative N$2.1 billion in the balance, India N$1.1 billion, and the DRC N$386 million.

The Bottom Line:

Namibia’s export game brought home N$10.1 billion, but with imports at N$12.2 billion, we are still spending like we have got a uranium mine in the backyard. Mining’s keeping us afloat, fish are swimming strong, and diamonds? Well, they are having a rough day. Here’s hoping March brings more cash and maybe a better wine export plan!

Source: The Brief

US Imposes 21% Import Tariff on Namibia

The United States has rolled out a 21% tariff on Namibian imports as part of a broad “reciprocal” trade policy unveiled by President Donald Trump on April 2, 2025, during a White House event dubbed “Make America Wealthy Again.” With Namibian goods like uranium and fish now facing higher costs, this move could shake things up for local exporters.

Key Highlights:

Tariff Tit-for-Tat

Namibia slaps a hefty 42% tariff on US goods, so Uncle Sam’s hitting back with a 21% charge on Namibian exports. “It’s like a playground rule: you tax me, I tax you,” Trump might say, as he waved a chart with Commerce Secretary Howard Lutnick in the Rose Garden. The policy aims to mirror what other countries charge the US—Namibia’s just one of many caught in the net.

Trade Snapshot

In 2024, US-Namibia trade hit N$7.8 billion. The US sent N$2.8 billion worth of goods Namibia’s way (down N$289.8 million from 2023), while Namibia shipped N$4.9 billion to the US (up N$2.565 billion). That’s a lot of fish, gold, and uranium crossing borders—now with an extra 21% price tag on the US end.

What’s the Deal?

• Why Now?: The White House says it’s about fixing “global trade injustices” and bringing manufacturing home. “Reciprocal trade is ‘America First’—it’s our economic superhero cape,” the statement boasts.

• When It Hits: The 21% tariff kicks in April 9, 2025, atop a 10% baseline tariff starting April 5, per Trump’s “Liberation Day” plan.

• Global Ripples: Allies like the EU and Britain are already plotting counter-moves, and markets are jittery—Europe and the US saw stocks dip after the announcement.

Impact on Namibia and Beyond:

Economic Squeeze

Namibia’s exports—like uranium and fish—might take a hit if US buyers balk at the higher prices. With the US importing N$4.9 billion last year, that’s no small potatoes. Local jobs in mining and fishing could feel the pinch if demand drops.

Trade Tug-of-War

The US calls this a sovereignty boost, but Namibia might see it as a slap after raking in N$10.1 billion from exports in February alone. With a 42% tariff on US goods, Namibia’s not exactly playing soft—now both sides are digging in.

The Bottom Line:

Trump’s 21% tariff on Namibia is part of a global trade shake-up that’s got everyone from Windhoek to Washington on edge. It’s a bold “America First” flex, but with Namibia’s exports in the crosshairs and retaliation brewing worldwide, this could spark a trade war hotter than a Namibian summer.

Source: The Namibian

TECH

Trump’s Tariffs Mean Higher Gadget Prices — What Could It Mean for Namibians?

President Trump’s new tariffs are set to make gadgets like smartphones, laptops, and smartwatches pricier worldwide, and Namibia won’t escape the ripple effects. While the impact won’t hit wallets overnight, experts warn that costs are coming—and don’t expect factories to pop up in the U.S. anytime soon either.

How Does This Affect Namibia?

Price Hikes on the Horizon

Namibia doesn’t make its own gadgets—think iPhones, Samsung TVs, or Dell laptops. Most of these goodies come from global supply chains, with key players like China (54% tariff) and Vietnam (46% tariff) now facing Trump’s hefty levies. “Prices will creep up as those costs trickle down,” says Jason Miller from Michigan State University. For Namibians, expect a 20% bump on smartphones and possibly steeper jumps—25-50%—on niche items like hearing aids. That’s a big deal when every dollar counts!

Timing the Sting

The good news? You have got a breather. Companies stockpiled gadgets ahead of the tariffs, computer imports to the U.S. spiked 70% over 2023, and phone shipments hit a 2022 peak in February 2025. Local retailers might hold off on price tags jumping until that stock runs dry, likely by mid-2025 or back-to-school season. “If your old phone’s hanging by a thread, grab a new one now,” Miller suggests. But once inventories thin out, Namibian shops will feel the squeeze too.

What’s the Local Impact?

• Tighter Budgets: With Namibia’s household debt already at N$68.4 billion (down slightly in February 2025), per Simonis Storm, extra gadget costs could strain folks already dodging debt potholes. A 20% hike on a N$10,000 phone adds N$2,000—ouch!

• Business Blues: Small tech retailers and repair shops importing parts or devices might see profits shrink unless they pass costs to customers. Bigger firms could lean on payment plans, but not everyone qualifies.

• Digital Divide: Cheaper tech has been a lifeline for students and remote workers in places like Oshakati or Ongwediva. Higher prices might widen the gap for those already stretched thin.

The Bottom Line:

Trump’s tariffs mean your next gadget splurge will cost more think 20% extra for phones by mid-2025, maybe worse for other tech. Stockpiles might delay the pain, but it’s coming. For a country leaning on imports and wrestling with debt, that’s less cash for airtime or data. No manufacturing boom’s saving the day either, just higher bills. Time to dust off that old Nokia or Samsung J1 Ace.

Source: The Verge (Adapted for Namibian Context)

Midjourney Releases Its First New AI Image Model in Nearly a Year

Midjourney, recognized as one of the pioneering AI image-generating services on the internet, has launched its first new AI image model in nearly a year. Designated as V7, this model commenced its alpha rollout around midnight Eastern Time on Thursday, following OpenAI’s recent debut of a viral Ghibli-style image generator in ChatGPT.

Key Highlights:

V7 Unveiled

Midjourney’s V7, while not officially tailored for Ghibli aesthetics, produces visually striking images, as judged by this reporter’s untrained eye. Access requires users to create a “personalization” profile by rating approximately 200 images, calibrating the model to individual tastes—a first for Midjourney with personalization enabled by default.

Availability and Features

The model is accessible via Midjourney’s website and Discord chatbot, selectable through a drop-down menu labeled “version.” Offered in Turbo and Relax variants—the former being costlier—V7 also powers a Draft Mode, rendering images tenfold faster at half the cost, albeit with lower initial quality that can be enhanced with a click.

What’s Behind It?

• Enhanced Capabilities: CEO David Holz described V7 as a “totally different architecture” on X, highlighting its superior text prompt interpretation, high-quality textures, and improved coherence in depicting bodies, hands, and objects, per a Discord announcement.

• Testing Phase: Features like upscaling and retexturing are pending, expected within two months. Holz noted V7’s unique strengths and potential weaknesses, urging users to experiment with prompting styles.

• Performance: Initial tests with prompts such as “A dragon with a spiky tail” and “A Ghibli-style character” showed reasonable fidelity, though comprehensive evaluation remains pending.

Impact and Context:

Innovation Leap

Midjourney’s V7 positions it competitively against OpenAI’s recent offering, enhancing its appeal with personalized, high-quality outputs and rapid Draft Mode rendering, despite some features still in development.

Company Profile

Founded in 2022 by David Holz, co-founder of Leap Motion, Midjourney remains self-funded, projecting $200 million in revenue for 2023. The San Francisco-based firm is expanding into hardware and advancing video and 3D generation models, though it faces lawsuits over alleged unauthorized use of web-scraped images for AI training.

The Bottom Line:

Midjourney’s V7 marks a significant update, blending smarter AI with user-tailored creativity. While not yet fully featured, its rollout signals the company’s drive to stay ahead in the AI art race—legal challenges and all. Users are invited to test its quirks and strengths, shaping its evolution as it takes flight.

Source: TechCrunch

PERSONAL DEVELOPMENT

The Ultimate Productivity Hack Is Saying No - James Clear, Author of Atomic Habits

The best way to boost productivity is by saying no. Not doing something is always faster than doing it. Unnecessary meetings, excessive commitments, and distractions drain time and energy.

Why We Say Yes

People say yes out of politeness, obligation, or fear of missing out. But every yes is a no to something else. Saying no helps preserve time for what truly matters.

The Power of No

No is a decision; yes is a commitment. Successful people master saying no to distractions, allowing them to focus on meaningful work. Steve Jobs once said, “Focus means saying no to the hundred other good ideas.”

Upgrading Your No

As you grow, even good opportunities may not be worth your time. Learn to say no to make room for what truly aligns with your goals.

How to Say No

Use the "Hell Yeah or No" rule—if an opportunity doesn’t excite you, decline it. Avoid commitments that will later feel burdensome.

Eliminate distractions instead of optimizing inefficiencies. As Peter Drucker put it, “There is nothing so useless as doing efficiently that which should not be done at all.”

For the full Article click here