Category: Finance
Repo Rate Cuts Could Revive Construction Sector
By: Dolly Menas The recent 25-basis point repo rate cut by the Bank of Namibia (BoN) could bring much-needed relief to the property sector, especially in residential property financing. The BoN’s Monetary Policy Committee (MPC) unanimously decided last week…
TransNamib and Partners to Return N$152 Million Grant Funding to Donours
By: Justicia Shipena The HyRail Project may soon return €7.6 million (approximately N$152 million) from a €30 million grant provided by the German Federal Ministry of Education and Research (BMBF). Spearheaded by TransNamib in collaboration with Hyphen Technical, Belgium’s…
Namibia Secures N$1.7 Million in Funding for COP29 Attendance
By: Justicia Shipena With only a few weeks remaining until the 29th Conference of Parties (COP29) on climate change, Namibia has secured N$1.775 million to support its participation at the global event. The funding will facilitate Namibia’s engagement…
NamRA Generates N$4.3 Billion Through Tax Amnesty
By: Dolly Menas and Kavee Vezemburuka The Namibia Revenue Agency (NamRA) has so far collected N$4.3 billion through its tax amnesty programme, which began on 1 April 2023. The initiative was designed to provide relief to taxpayers struggling…
Namcor Was on the Verge of Liquidation Before N$1.2 Billion Lifeline
By: Erikka Koukulunhu The National Petroleum Corporation of Namibia (Namcor) Acting Managing Director Ebson Uanguta revealed that the petroleum corporation was on the brink of liquidation before the government stepped in with a N$1.2 billion lifeline from state funds. A…
Repo Rate Expected to Decrease
Dolly Menas, Loise Shiimi Economic analysts expect the Bank of Namibia’s (BoN) Monetary Policy Committee (MPC) to cut the repo rate on Wednesday. BoN will announce the MPC’s decision after offering consumers relief in August and lowering the repo rate…
Half of EU Millions for Green Hydrogen Spent … N$95.2 million invested in green hydrogen strategy
By: Justicia Shipena Nearly half of the €40 million (approximately N$764 million) allocated to Namibia’s green hydrogen project from the European Union has already been spent. As Namibia advances its efforts to develop a green hydrogen industry, it…
Government Debt Reaches N$123 Billion
By: Staff Writer Namibia’s government debt rose to N$123.51 billion by the end of September, an increase of N$2.04 billion by October. Analysts at Simonis Storm Securities (SSS) attributed most of the growth to fixed-rate bonds (GCs), which…
NASRIA Assets Grow to N$869 Million
Hilya Ngolo The Namibia Special Risks Insurance Association Limited (NASRIA) saw its total assets increase from N$841 million in 2023 to N$869 million in 2024. This 3.2% growth was primarily driven by an increase in financial assets. Speaking…
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…