NamRA surpasses revenue target for FY2024/5, collects N$88.6 billion

By: Hertha Ekandjo

The Namibia Revenue Agency (NamRA) has exceeded its revenue target for the financial year FY2024/5, collecting a net total of N$88.6 billion, which amounts to 103.81% of the target of N$85.3 billion.

For the period from April 1, 2024, to March 31, 2025, NamRA collected N$98.9 billion in gross revenue. After refunds totaling N$10.4 billion, the net revenue stood at N$88.6 billion.

Comparing this to the previous financial year, NamRA’s net revenue for FY2023/4 was N$77 billion, showing a growth of N$11.6 billion or 15% in FY2024/5. This increase reflects improved tax compliance and the resilience of the country’s economy.

Namibia’s Gross Domestic Product (GDP) also demonstrated notable growth. From 2021 to 2024, the GDP expanded by N$62 billion, rising from N$184 billion in 2021 to N$245 billion in 2024, a 34% increase.

These results highlight the efficiency of NamRA in revenue collection and underscores the overall strength of Namibia’s economy, suggesting a positive outlook for the nation’s fiscal future.