Category: Finance
Resettled Farmers to Access Loans through Agribank
By: David Shoombe The nine resettled generational farmworkers will have access to agricultural loans through the state-owned Agribank. This was confirmed by the Deputy Executive Director of the Ministry of Agriculture, Fisheries, Water and Land Reform, Peter Nangolo, last week….
Financial Sector is Encouraged to follow SA’s Cybersecurity Standards
By: Nghiinomenwa-vali Erastus It has been recommended that Namibian companies in the financial sector follow South Africa’s latest legal standard for cybersecurity in the financial sector. The South African Financial Sector Conduct Authority and the Prudential Authority, have…
60 Out of 121 Constituency Youth Enterprise Proposals Ready for Financing
By: Nghiinomenwa-vali Erastus A report by the National Council Standing Committee on Education, Science, ICT, and Youth Development has revealed that 60 out of 121 proposals under the Constituency Youth Enterprise Initiative are ready for financing. The…
Rundu Town Council Proposes N$284 Million Budget for 2025/2026
By: Annakleta Haikera The Rundu Town Council has proposed a capital project budget of N$284,1 million for the 2025/26 financial year, marking a 15% increase from the previous year’s budget of N$245,995,825. This was announced during a…
Govt to Borrow N$29.8 Billion This Year…N$21.2 Billion to Be Sourced Locally
By: Nghiinomenwa-vali Erastus The government plans to borrow N$29.8 billion during the 2025/26 financial year to meet its budgetary requirements and other financial obligations. Of this amount, N$21.2 billion will be raised from the domestic market, according…
Nam to Start Backing Currency with Gold
By: Nghiinomenwa-vali Erastus As part of its evolving foreign exchange reserve management strategy, the Bank of Namibia will begin accumulating gold to diversify and strengthen the country’s reserve assets. The central bank aims to allocate 3% of its foreign exchange…
US Dollar Reserve Global Dominance Shrinks
By: Nghiinomenwa-vali Erastus A summary done by the Bank of Namibia last week shows that the USA dollar’s dominance as a global reserve currency has eroded from over 70% in 2000 to 59% in Q1 2024. The USA dollar has…
Non-Bank Financial Sector Assets Near Half a Trillion Mark
By: Nghiinomenwa-vali Erastus The total assets of Namibia’s non-bank financial institutions reached N$474.1 billion by the end of December 2024, bringing the sector just a few million dollars shy of the half-a-trillion mark — and nearly three times the size…
Economists Expect Bank of Namibia to Hold Repo Rate Steady
By: Loise Shiimi and Justicia Shipena Economists are forecasting that the Bank of Namibia’s Monetary Policy Committee (MPC) will keep the repo rate unchanged in its upcoming announcement. In February, the MPC opted to cut the repo rate by 25…
NamRA Beats Revenue Target for 2024/25
By: Justicia Shipena The Namibia Revenue Agency (NamRA) has surpassed its revenue target for the financial year FY2024/5, collecting a net total of N$88.6 billion to beat the target of N$85.3 billion. According to the agency’s report, their gross revenue…