Category: Finance
Fraud Across Payment Systems Decreases
By: Dolly Menas The Bank of Namibia’s Financial System Stability Committee (FSSC) has reported a decline in fraud across payment systems in the country. The committee emphasised that Namibia’s payment systems and infrastructure remain secure, playing a crucial…
Ratings Agency Affirms Bank Windhoek
By: Staff writer The Global Credit Rating (GCR) agency has affirmed Bank Windhoek’s Namibian long and short-term national scale issuer ratings AA(NA)/ A1+(NA), respectively. GCR Ratings (GCR) is Africa’s leading rating agency, with a rating coverage of over 500…
MTC Launches Branchless Mobile Money Service
By: Nghiinomenwa-vali Erastus Windhoek General Administrator (WGA), a fintech subsidiary of Mobile Telecommunications Company (MTC), has launched a mobile phone-based money transfer and payments service called MTC Maris. The service was unveiled last Friday, marking MTC’s entry into the…
Govt Debt Reaches N$157.6 Billion Amid Economic Challenges
By: Hertha Ekandjo The government debt has surged by 8.3%, reaching N$157.6 billion at the end of June 2024, driven primarily by increased issuance of Treasury Bills (TBs) and Internal Registered Stock (IRS), alongside a rise in external borrowing….
Namcor Repays Half of N$1,1 Billion Debt
By: Staff writer Namcor says it has spent N$550 million to settle some of its N$1,1 billion debt to international oil seller Gunvor. This comes after the company received a N$1.2 billion lifeline from state coffers. Namcor said…
More Than 600,000 Micro Lending Loans Issued in 2023
By: Nghiinomenwa-vali Erastus Registered microlending entities in Namibia issued a total of 665,290 new loans with a combined value of N$3.6 billion in 2023. This represents a slight increase of 0.8% compared to the previous year, according to…
Analyst Raises Concerns Over Green Hydrogen Financing
By: Justicia Shipena Namibia’s investment in green hydrogen is facing growing scrutiny, with both financial and environmental risks coming to the forefront. According to economic analyst Rowland Brown, the country’s push for green hydrogen development presents significant financial…
Almost N$1 Billion Switched From GC25 Bond
By: Nghiinomenwa-vali Erastus Investors in the GC25 Bond, maturing in October 2025, have moved N$944.9 million of their investment into other long-term government debt instruments. This shift means some investors have chosen to extend their lending to the…
Opinion: Maximise Your Earnings from the Upcoming Tax Relief
By: Julia Mukusuka As October approaches, bringing both the month of savings and the anticipated 2024 tax relief, Namibian households are set to enjoy much-needed financial relief. This not only eases household budgets but also creates opportunities for…
Employers, Unions Raise Concerns Over Tax Refund Process
By: Hertha Ekandjo Employer representatives and labour unions have expressed concerns following the recent gazetting of the Namibian Income Tax Amendment Act, announced by Finance Minister Iipumbu Shiimi earlier this month. The Act mandates employers to reimburse employees for…