Category: Finance
Bank Windhoek and NASRIA in N$50 Million Partnership to Boost SMEs
By: Dolly Menas Bank Windhoek and the Namibia Special Risks Insurance Association (NASRIA) Ltd have entered into a partnership agreement valued at N$50 million under the Credit Guarantee Scheme (CGS) to bolster support for SMEs. This collaborative effort…
Only N$165.1 Million Switched from GC24’s N$2.3 Billion
By: Nghiinomenwa-vali Erastus In its fifth attempt to persuade investors holding GC24 bonds to switch to other long-term bonds, the Bank of Namibia only managed to move about N$165 million of the total bond value. The Bank of…
World Bank Group & AfDB Join Forces on Project to Electrify Africa
By: Hertha Ekandjo The World Bank Group (WBG) and the African Development Bank Group (AfDB) are teaming up to bring electricity to the remaining regions of Africa. This significant partnership was announced by WBG President Ajay Banga and…
Namibia Makes 200 New Millionaires
By: Staff Writer Namibia has cemented its position in the top 10 wealthiest countries in Africa in terms of millionaires, with an additional 200 millionaires reported since last year. According to the latest 2024 Africa Wealth Report by…
Repo Rate To Remain at 7.75% Economists Predict
By: Justicia Shipena Economists anticipate the Bank of Namibia’s Monetary Policy Committee (MPC) to maintain the repo rate at 7.75% due to the substantial rate difference compared to South Africa. Robert McGregor, an economist at Cirrus Capital said…
Shiimi Sets NamRa’s Collection Target at N$85 Billion …taxpayers refunded N$10.4 billion
By: Staff writer The Namibia Revenue Agency (NamRa) has adjusted its revenue collection target from N$81 billion to N$85 billion, as revealed by the agency’s Commissioner, Sam Shivute. Over the last three years since its inception, NamRa’s collection targets…
Finance Ministry to Regulate Banking Fees … commercial banks rake in N$4.5 Billion in non-interest income including fees and charges
By: Nghiinomenwa-vali Erastus The newly enacted Banking Act empowers the Minister of Finance and Public Enterprises to regulate fees and charges imposed by banking institutions on their customers. This was revealed in the 2023 annual report of the…
Average House Price Stands At N$1.2 Million
By: Nghiinomenwa-vali Erastus By the end of December 2023, the average or most common house on the market cost N$1.21 million, slightly higher than the N$1.19 million recorded during the corresponding period in 2022. This was revealed by…
FNB Wins Namibia’s Best Bank Award for 2024
By: Dolly Menas First National Bank of Namibia (FNB) has earned the prestigious title of Best Bank in Namibia for the year 2024, as bestowed by Global Finance magazine. The announcement came during the 31st annual Best Banks…
Loan Repayments Strain Individuals as Economy Faces Challenges
By: Nghiinomenwa-vali Erastus The Bank of Namibia’s recent annual report paints a troubling picture of the country’s economic landscape, with non-performing loans (NPLs) reaching N$6.5 billion by the end of 2023. Of these loans, 51% are attributed to…