Category: Finance
Do Not Share Your Banking PINs Or OTPs With Anyone – Banks Included
By: Johnny Truter In the past, bank robbers were brazen. They used weapons and physical intimidation to instil fear into staff, security guards and any customers who were in the branch. Their timing was considered. They would strike on the…
Can I Borrow From My Pension?
By: Amos Kambonde The question of whether to borrow from one’s pension or not is one of the questions many members of pension funds ask regularly. Section 19(5) of the Pension Fund Act, 1956 (Act No. 24 of 1956) makes…
Govt To Borrow N$3.2 Billion in Five Months
By: Nghiinomenwa-vali Erastus The government plans to borrow N$3.2 billion from institutional and individual investors between October 2023 and March 31, 2024, to address a widened budget deficit and fulfil outstanding obligations. The borrowing will occur domestically through bonds and…
Youth Told to Prioritise Financial Literacy
By: Nghiinomenwa-vali Erastus As the economic landscape undergoes transformative changes locally, regionally, and continentally, the understanding of financial matters, encompassing risk, investment, allocation, and hedging, is becoming increasingly intricate. Amid these changes, Joachim van Schalkwyk, the Broker Distribution Manager at…
Plan Your Bonus To Last The Long Run
By: Samuel Linyondi In October, the Bank of Namibia (BoN) left the repo unchanged at 7.75%, the highest in the past 14 years. If a repo rate increases, borrowing becomes more expensive, and product and service prices increase for consumers….
Namibia Stays Linked to Rand Amidst SA Banks Scandal
By:Hertha Ekandjo The Bank of Namibia says it plans to maintain the peg between the Namibian dollar and the South African rand, despite revelations of manipulation in the USD/Rand currency pair by certain South African banks. The scandal, dating…
Tax Policy Review Intensified … Double Taxation Agreements To Be Renegotiated
By: Nghiinomenwa-vali Erastus The Ministry of Finance says it has intensified its efforts to review Namibia’s tax regime with the aim of enhancing the country’s tax competitiveness. In this regard, the Ministry earlier this year established a Tax Policy Unit…
Financial literacy for the next generation: Preparing our youth for economic success
By: Joachim van Schalkwyk In an era of unparalleled financial complexity, where managing money has become a critical life skill, it is critical to ensure that the next generation is well-equipped to navigate the economic landscape. For good reason, the…
Guarding Your Finances: Understanding and Combating Financial Fraud in the Digital Age
By: Maria Samahina In today’s digital age, where financial transactions and personal information are increasingly digitised, the risk of falling victim to financial fraud has grown exponentially. Letshego Bank Namibia encourages Namibian citizens to remain vigilant and stay informed about…
N$7 Million Recovered from Non-Reapplying Retirees in PSEMAS
By: Justicia Shipena The Ministry of Finance and Public Enterprises has recouped N$7 million from retirees who failed to reapply for enrollment in the government’s Public Service Medical Aid Scheme (PSEMAS) after their retirement. This development comes in response…