Category: Finance
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…
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…
All Eyes On BoN: To Raise Or Not To Raise
By:Justicia Shipena The Bank of Namibia (BoN) Monetary Policy Committee (MPC) is expected to announce its decision on the repo rate on Wednesday as inflation has slowed. This comes amidst questions of whether the BoN will follow South Africa’s lead…
The Green Scheme Projects: Re-evaluate to Determine Best Possible Modalities in Namibia
By:Josef KefasSheehama The Namibia Agriculture Policy is the overarching policy and can serve as a base for aligning existing policies, laws, and regulations. The policy presents a framework for the design of programmes and projects that will steer the performance…