Bank Windhoek appoints Ngula as its e-Money Head

Bank Windhoek appoints Ngula as its e-Money Head

Bank Windhoek’s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman, recently announced the appointment of Candy Ngula as the Bank’s Head of Electronic Money (e-Money), effective Thursday, 1 February 2024. Chapman said that, in her new role, Ngula will focus on driving the value of e-Money and will be responsible for the growth and optimisation of e-Money across Bank Windhoek’s Retail Banking Services. Ngula joins […]

February 20, 2024 7

Namibia

Bank of Namibia Concludes Inaugural Monetary Policy Strategy Session

The Bank of Namibia has concluded its inaugural Monetary Policy Strategy Session, aimed at enhancing the understanding and implementation of monetary policy. The session, attended by key stakeholders such as the Monetary Policy Committee, Board members, and essential staff, provided valuable education and insights into the intricate process of policy formulation. Naufiku Hamunime, the Acting Director of Strategic Communications and International Relations at the Bank, highlighted the significance of this […]

February 20, 2024 11

Business / Economics

Josef Sheehama reacts to the decision of Bank of Namibia to keep repo rate unchanged

By Josef Sheehama The decision of Bank of Namibia to keep repo rate unchanged is a shocking because inflation rates is stable, and our international reserve remain strong. The policymakers try to navigate risks to inflation and the timing of when global interest rates will start to fall. I understand that the decision influences by several factors contributing to the status quo. We are aware that Namibia's currency, […]

February 14, 2024 13

Namibia

President Mbumba officially opens first Cabinet meeting of 2024

President Nangolo Mbumba has inaugurated the first Cabinet of 2024 at State House, pointing out the country's economic recovery in different sectors. Mbumba attributed the industry success to the Harambee Prosperity Plan initiated by late President Hage Geingob. President Mbumba also revealed that Namibia's economic growth exceeded pre-pandemic levels, reaching 7.2% in the third quarter of 2023. The Bank of Namibia's Economic Outlook projects a GDP growth of 3.4% for […]

February 13, 2024 47

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 39

Local

Bank of Namibia warns against fraudulent investment scams.

The Bank of Namibia (the Bank) has noted with concern an escalation in the number of fraudulent investment scam activities, targeting and using references to the Government, its Ministries, Offices, and Agencies. The Bank has identified fraudulent investment scam activities, offering unsolicited financial assistance to fund Namibia’s developmental initiatives, with perpetrators applying particular focus on senior public figures, high-ranking government officials, politicians, and civil servants, to promote the fraudulent […]

February 2, 2024 22

Namibia

Bank of Namibia Strengthens Leadership with New Non-Executive Board Members

The Bank of Namibia announces the appointment of Dr. Meshack Tjirongo, Adv. Eliaser Nekwaya, and Mr. Peter Kruger as non-executive members of the Board of Directors. Additionally, Mr. Ehrenfried Meroro has been re-appointed as a non-executive board member effective from tomorrow. These appointments align with Section 9 of the Bank of Namibia Act (2020). Ms. Naufiku Hamunime, Acting Director of Strategic Communications and International Relations, shared the news. […]

January 31, 2024 40

Local

Bank of Namibia announces new board members.

The Bank of Namibia is pleased to announce the appointment of Dr Meshack Tjirongo, Adv. Eliaser Nekwaya and Mr. Peter Kruger as non-executive members of the Bank’s Board of Directors and the re-appointment of Mr. Ehrenfried Meroro as a non-executive board member. These appointments, in line with Section 9 of the Bank of Namibia Act (2020), will take effect from 1 February 2024. Mr. Peter Kruger is currently […]

January 30, 2024 35

Namibia

Bank of Namibia declares its inclusion in the distinguished Network for Greening the Financial System

The Bank of Namibia is delighted to declare its inclusion in the distinguished Network for Greening the Financial System, a coalition of central banks and prudential supervisory authorities dedicated to promoting global environmental and climate risk management within the financial sector. Naufiku Hamunime, the bank's Principal International Relations and Sustainability Officer, shared this announcement.

January 12, 2024 19