The spot price for uranium dropped to 12-year lows of US$18.25 per pound in 2016, nearly half the US$36.00 spot price witnessed at the end of 2015. According to UX Consulting, long term contract prices fell 57% in 2016.

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Uranium had a devastating 2016, IJG Securities says in its latest Economic Outlook.

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B7: What shaped you, where does your love for business come from and what drove you to start Galileo Capital? Why Galileo?

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The Bank of Namibia (BoN) kept its repo rate at 7% at its monetary policy meeting in February. BoN Governor Ipumbu Shiimi said the decision was taken following a review of global, regional and domestic economic conditions, as well as financial developments.

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7.2/10

“… for being so brave and taking the bull by the horns.”

See poll on P.2

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Jo-Maré Duddy - A poll conducted by Business7 showed six local economists and analysts giving Finance Minister Calle Schlettwein an average score of 7,2 out of 10.

Individual scores ranged from 6 to 8.

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Zimbabwean President Robert Mugabe, who turned 93 on Feb. 21, has no plans to give up power, saying he has no "acceptable" successor in place.

"The call to step down must come from my party, my party at congress, my party at central committee," Mugabe said in excerpts from a radio.

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Hundreds of patients endured long hours waiting in casualty units at Zimbabwe's state hospitals due to a crippling strike by doctors seeker higher allowances and better work conditions.

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Zimbabwean banks only have enough cash in offshore accounts to finance about two weeks' worth of the country's imports, according to a statement from the central bank said on Feb. 15.

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Jo-Maré Duddy – From listing to liquidating state-owned enterprises, local experts may differ on how they would tackle SOEs if they were Calle Schlettwein, but they agree that the taxpayer should be rid of this billion-dollar burden as a matter of urgency.

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Armyworm invasion a huge concern

Namibia’s food security is under threat from an outbreak of previously unknown fall armyworm that is devastating crops in the north-central and north-eastern parts of the country.

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With the high demand for land in the country, people have resorted to building illegally in flood-prone areas, which later becomes an extra burden on the government when heavy rains fall.

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Crop farmers have expressed mixed feelings over the good rains being experienced countrywide.

They say rain is not the only factor determining a good harvest, as their fields are threatened by all kinds of pests such as insects, quelea birds and even their neighbours’ livestock.

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It is omagongo time and traditional authorities in northern Namibia are gearing up for the annual omagongo festival, where copious amounts of fermented marula juice are consumed.

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Without sufficient grass for their livestock, northern farmers are driving their cattle into towns in search of grazing.

Town councils have hired security officers to impound animals found grazing in towns in order to prevent conflict between townspeople and livestock owners.

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