insert_link Namibia BoN and NamRA succesfully launch the country’s inaugural Trade Verification System to monitor cross-border transactions The Bank of Namibia, in collaboration with the Namibia Revenue Agency, has introduced Namibia's inaugural Trade Verification System to oversee cross-border transactions. This initiative is geared towards curbing illegal capital outflows and advancing financial transparency within the country. Steven Ndorokaze, spokesperson for NamRA, shared insights into this crucial initiative. todayDecember 14, 2023 23
insert_link Namibia Macroprudential Oversight Committee of the Bank of Namibia held its second and last meeting of the year The Macroprudential Oversight Committee of the Bank of Namibia held its second and last meeting of the year, to assess potential risks and vulnerabilities in the Namibian Financial System. Florette Nakusera: Director of the committee. todayDecember 13, 2023 25
insert_link Local The Namibian financial system remains stable, sound, and resilient amidst a challenging global and domestic economic environment The Macroprudential Oversight Committee (MOC)1 of the Bank of Namibia (the Bank) held its second and last meeting of the year on the 07th of December 2023, to assess potential risks and vulnerabilities in the Namibian Financial System. Following a comprehensive assessment of domestic and global economic conditions, the Committee deemed the domestic financial system as stable, sound, and resilient. This is despite increasing risks and vulnerabilities stemming from […] todayDecember 12, 2023 5
insert_link Namibia Bank of Namibia releases Economic Outlook update for December The Bank of Namibia released the Economic Outlook update for December 2023 with the domestic economy estimated to expand by 3.9 percent in 2023 and by 3.4 percent in 2024. Our team spoke to BON's Principal International Relations & Sustainability: Naufiku Hamunime. todayDecember 8, 2023 8
insert_link Business / Economics Bank of Namibia maintains repo rate at 7.75% The Bank of Namibia has decided to keep the repo rate unchanged at 7.75 percent, resulting in the prime lending rate remaining stable at 11.50 percent. Here is Governor Johannes !Gawaxab addressing the decision. The next meeting of the MPC will be held on 12 and 13 February 2024. todayDecember 6, 2023 20
insert_link Namibia Bank of Namibia will announce its decision on the repo rate today The Bank of Namibia will announce its decision on the repo rate today. The central bank's Monetary Policy Committee decided to continue safeguarding the peg between the Namibian Dollar and the South African Rand while supporting the domestic economy and keeping the Repo rate unchanged at 7.75 percent in October. Managing Director of High Economic Intelligence, Salomo Hei explains his expectations. todayDecember 6, 2023 22
insert_link Business / Economics Thought Leadership: Plan your bonus to last the long run By Samuel Linyondi, Bank Windhoek’s Strategic Communication Manager 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. The repo rate is one of the monetary tools to either control inflation or stimulate demand. Conversely, inflation is the rate of price increase over […] todayNovember 23, 2023 16
