AGP Executive Report
Last update: 9 hours agoMonetary Policy: The Bank of Namibia lifted the repo rate by 25 basis points to 6.75% and revised inflation forecasts higher, citing rising global and domestic price pressures and higher oil costs; inflation hit 4.1% in May. Financial Regulation: Namibia’s new Financial Institutions and Markets Act (FIMA) tightens protection for retirement savings by blocking employers from recovering theft, fraud or misconduct losses from employees’ pensions. Governance & Rights: An ombudsman report flags rights abuses in police detention, while a new bill would compel auditors to report fraud and serious financial misconduct. Local Economy & Services: Windhoek launched a 10-year People-Centred Smart City strategy, but activists warn implementation must not come at the expense of basic service delivery. Energy & Industry: Shell is drilling a sidetrack on its Merlin-1X discovery offshore Namibia as it seeks clearer signs of commercial potential, and Namibia’s oil and gas conference returns to Windhoek in August with a stronger local jobs focus. Road Safety Dispute: The Works ministry denies removing Western Bypass speed humps, saying installation is ongoing as a court challenge continues.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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