NUST and Bank of Namibia Launch AI and Robotics Accelerator for Student Development

NUST and Bank of Namibia Launch AI and Robotics Accelerator for Student Development

The Namibia University of Science and Technology has partnered with the Bank of Namibia to launch the Artificial Intelligence and Robotics Accelerator. This cutting-edge facility focuses on equipping students with vital skills needed in a technology-driven world, ensuring they are prepared for future challenges in artificial intelligence and robotics. NUST's Dr. Colin Stanley emphasized the initiative's role in advancing technological education in the country.

November 6, 2024 29

Local

Bank Windhoek’s Agri Series Focuses on Drought Impact on Namibia

Bank Windhoek’s Executive Officer for Marketing and Corporate Communication Services, Jacquiline Pack, emphasized that the agriculture sector has always been a cornerstone of Namibia’s economy and society, contributing around 6% to the Gross Domestic Product (GDP) and creating significant employment opportunities. She made this statement on Tuesday, 5 November 2024, while announcing that the fifth Agricultural Series will take place on Wednesday, 13 November 2024, in Windhoek, live on […]

November 6, 2024 12

Environment

Agriculture Minister supports Bank of Namibia’s drought relief policy

The Bank of Namibia has introduced a financial relief policy for farmers affected by ongoing drought, which includes loan restructuring, debt moratoriums, and emergency funding at preferential terms. Agriculture Minister Calle Schlettwein expressed support for the policy in an interview with Future Media, emphasising the need for financial products tailored to the agricultural sector's unique challenges. Minister Schlettwein, discussing Namibia's response to climate change, further highlighted the importance […]

October 29, 2024 16

Environment

Bank of Namibia Orders Financial Relief for Drought-Stricken Farmers

The Bank of Namibia has directed local financial institutions to establish relief measures designed to support farmers and agricultural businesses facing severe financial difficulties caused by the ongoing drought. BoN’s Director of Strategic Communications and International Relations, Kazembire Zemburuka, explained that this move follows a state of emergency declaration in response to what is described as the worst drought Namibia has experienced in a century, according to The Brief.

October 29, 2024 13

Environment

Bank of Namibia launches drought relief policy

The Bank of Namibia has introduced a new policy, effective from 23 October 2024 to October 2026, to address economic and financial challenges from the ongoing drought following the state of emergency declared by President Nangolo Mbumba in May. The central bank’s principal communications team leader, Sandra Garises.

October 28, 2024 24

Business / Economics

Bank of Namibia Issues Warning on Fraudulent Investment Schemes

The Bank of Namibia has raised alarms about an increase in fraudulent investment schemes that falsely promise financial support for the nation’s development initiatives. These scams primarily target high-ranking government officials and traditional leaders, exploiting their reputations to gain credibility. The Bank has also observed that religious and traditional leaders are being approached to promote these deceptive schemes within their communities, further misleading the public. The regulator's Josefina Oskar:

October 23, 2024 25

Local

BANK OF NAMIBIA WARNS PUBLIC AGAINST FRAUDULENT INVESTMENT SCHEMES

The Bank of Namibia has noted with increasing concern the rise of fraudulent investment schemes that falsely promise financial backing for Namibia’s development initiatives. These schemes are particularly aimed at high-ranking government officials, ministries, traditional leaders, and prominent public figures, exploiting their reputations to lend credibility to deceptive offers. Recently, the Bank has observed that prominent religious and traditional leaders, as well as church elders, are also approached […]

October 23, 2024 11

Business / Economics

Bank of Namibia reduces repo rate to 7.25%, offering relief to consumers

The Bank of Namibia has announced a 25 basis point reduction in the repo rate, bringing it down to 7.25 percent. This decision follows an extensive review of domestic, regional, and global economic conditions. Speaking at the monetary policy announcement, BoN Governor Johannes !Gawaxab emphasized the need to moderate monetary restrictions due to slowing economic growth and declining inflation. "Domestic economic activity rose during the first eight months of 2024, […]

October 16, 2024 17

Business / Economics

3-10 October 2024 Weekly Economics Wrap: Domestic Activity Declines, South Africa’s LPG Boom, and Global Financial Developments

Economic activity in Namibia showed signs of a slowdown in the second quarter of 2024, with business registrations declining by 34% compared to the same period last year. According to the Bank of Namibia, both close corporations and private companies experienced downturns, with close corporations dropping by 37.7% and private companies by 8.4% year-on-year. In the realm of domestic debt, Namibia's total reached N$123.51 billion by the end of September, […]

October 10, 2024 6