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…
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…
SOEs Bailouts Impacting Social Investments, says Shiimi
By: Justicia Shipena Finance and Public Enterprise Minister Ipumbu Shiimi has expressed concern that the continuous financial bailouts provided to state-owned enterprises are diverting resources from essential social investments. Shiimi raised the concern as he presented the mid-term budget review…
Namibia’s Financial Literacy Levels Irk PM
By: Hertha Ekandjo Namibia’s first female Finance Minister Sarah Kuugongelwa-Amadhila has expressed her concern about the level of financial literacy among the Namibian population. The prime minister has called for an urgent solution and continued efforts to promote financial literacy,…
Repo Rate Expected to Remain Unchanged, Experts Predict
By: Justicia Shipena The Bank of Namibia (BoN) is expected to maintain the interest rate at its current level when it announces the repo rate today, following the lead by its South African counterpart. BoN’s Monetary Policy Committee (MPC) raised…
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…