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…
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….
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…
Auditor General Raises Concerns OverKavango East Regional Council’s Finances
By: AnnakletaHaikera The Auditor General, Junias Kandjeke, has identified several concerns related to the financial records of the Kavango East Regional Council for the fiscal year ending in March 2019. In granting the regional council an adverse audit opinion, Kandjeke…
Africa Development Bank Pumps N$9 Million Into Namibia
By: Hertha Ekandjo Namibia has secured a N$9 million grantfrom the Africa Development Bank (AfDB) to kickstart putting together of the country’s Investment Plan for the design of its Nature, People and Climate (NPC) Programme. The funding was secured…
Central Bank Reprimands Commercial Banks Over Profit Shifting
By:Shipena The Bank of Namibia (BoN) has issued a stern warning to commercial banks over profit shifting. “Banks were informed that the Bank of Namibia will not entertain profit shifting and transfer pricing practices, which are done via service level…
Economic Growth Projections Hold Steady Amidst Policy Changes
By: Justicia Shipena Despite tightening monetary policy, Namibia will meet its economic growth forecasts this year, according to Floris Bergh, Chief Economist at Capricorn Asset Management. This comes as Namibia’s central bank chose to maintain the monthly policy rate at…
Access to Deposits Preserved Despite Trustco Bank’s Suspension
By:Justicia Shipena Despite the Bank of Namibia’s (BoN) temporary suspension of Trustco Bank, clients would retain access to their deposits. Trustco Bank’s ability to function as a financial institution was suspended with immediate effect by BoN on Friday. The suspension…