More articles in this category
Top Stories

Latest indications from the Namibia Statistics Agency (NSA) dating back from the 2017 financial year are that the number of Namibians who are bank...

Chairperson for the Namibia Airports Company (NAC) Rodgers Kauta has officially resigned from his duties, permanent secretary in the ministry of w...

The defence council presiding over a case of rape and trafficking had a field day yesterday in the Windhoek High Court when the doctor who did the...

Namibian charcoal exports are expected to increase to 200 000 tons by 2020 from 160 000 tons that are exported annually. There are currently ar...

The battle of who should rise to the vacant throne of the Shambyu Traditional Authority played out in the Windhoek High Court before Judge Angula ...

In a daring movie-style criminal act by suspected youths over the weekend, a Katutura-based ambulance was stolen and taken for a joy-ride before b...

Other Articles from The Villager

Growing need for credit

Mon, 14 January 2013 09:15
by Tirivangani Masawi
Business

The country’s inflationary pressures have for the first time hit a double digit percentage figure, the latest monitory policy review statement by the Bank of Namibia (BoN) shows.
“The majority of the food inflation experienced in Namibia remains driven by external cost push factors which are out of Namibia’s control. Transport also contributed to the overall, increasing 1.2% month on month and 6.1% year on year. Once again much of the transport inflation is being driven by external factors,” BoN governor Ipumbu Shiiimi noted.
According to Shiiimi private sector credit demands increased   illustrating the growing need for credit in the Namibia market where individuals have been borrowing to drive their luxury spending.
“This is the largest of credit seen in five years and was driven predominantly by credit extension to business which reached 21.1% year on year in October.”
Despite these growing challenges, Shiimi argued that the operating environment in the country remains sound enough and good to lure foreign direct investment.
The Governor also maintained its repo rate at 5.5% basis points.