Category: Finance
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…
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…