insert_link Business / Economics 4 October 2024 Morning Biz News: Cash Still King in Namibia, AgriSA Optimistic, and Oil Prices Surge Amid Tensions Bank of Namibia: Cash Remains Vital in Financial System The Bank of Namibia has emphasized the enduring significance of cash in the financial landscape, with over N$5.2 billion in circulation for 2023. Despite the growing prevalence of digital payments, cash continues to play an essential role in everyday transactions such as groceries and transportation. AgriSA Optimistic Amid Challenges AgriSA remains hopeful about the agricultural sector's potential to adapt and drive […] today4 October, 2024
insert_link Business / Economics Bank of Namibia Governor Announces Instant Payments in 2025 Governor Johannes !Gawaxab of the Bank of Namibia delivered a public lecture at the University of Namibia titled "Modernising Namibia’s Financial Landscape for a Prosperous Future." He outlined the introduction of fast payments, or instant payments, allowing real-time fund transfers 24/7, set to launch in September 2025. The regulator's, Josefina Oskar . today2 October, 2024
insert_link Business / Economics Bank of Namibia symposium highlights agriculture’s growth potential The Bank of Namibia concluded its 25th Annual Symposium in Windhoek today, focusing on the theme, "Global Value Chains for Inclusive Development: How Can Namibia Position Its Agriculture Sector?" The event brought together experts and stakeholders to discuss strategies for strengthening Namibia's agricultural sector to drive inclusive growth. BoN Governor Johannes !Gawaxab, in his address, highlighted the critical role of agriculture in Namibia's economic development. He referenced a recent World […] today19 September, 2024
insert_link Business / Economics Bank of Namibia warns public about Global Green Network The Bank of Namibia has warned the public about Global Green Network after finding that it broke the Banking Institutions Act, of 1998. The investigation showed that the company was involved in illegal financial activities. As a result, the Bank advises people to stop dealing with Global Green Network immediately. BoN’s Strategic Communications Practitioner, Josefina Oskar. today18 September, 2024
insert_link Business / Economics New Bank of Namibia bonds expected to improve financial access The Bank of Namibia is preparing to introduce the country’s first retail bonds, allowing low to medium-income earners to invest in government debt. According to Max Rix, Head of Investments at Simonis Storm Securities, this initiative could broaden financial inclusion and promote financial literacy among Namibians. today29 August, 2024
insert_link Business / Economics Bank of Namibia Supports Oil and Gas Sector with Flexible Exchange Controls The Bank of Namibia affirms that the country's Exchange Control Policies and Laws are designed to foster a supportive investment environment for the emerging oil and gas sector. These policies facilitate foreign direct investments by allowing investors to bring in and repatriate funds through commercial banks, ensuring smooth operations in exploration and capital-intensive projects. Sandra Garises, the regulator's principal communication officer. today22 August, 2024
insert_link Business / Economics Bank of Namibia Reduces Repo Rate to 7.50%…. The Bank of Namibia announced a reduction in the repo rate from 7.75% to 7.50%, marking a shift after a series of rate hikes that began in February 2022. As a result, commercial banks’ prime lending rate will decrease from 11.5% to 11.25%. Cirrus Capital economist, Robert McGregor. today15 August, 2024
insert_link Business / Economics 14 August 2024 Morning Biz News: Namibia Keeps Repo Rate Steady? , South Africa Sees Surge in Project Announcements, Dollar Weakens, and Oil Prices Climb Bank of Namibia Expected to Maintain Repo Rate Analysts are predicting that the Bank of Namibia will keep the repo rate steady at 7.75% during its upcoming Monetary Policy Committee meeting on Wednesday. This decision would mark the third consecutive meeting where the rate remains unchanged, following similar outcomes in April and June. The move reflects ongoing stability in the financial sector as the bank continues to navigate economic […] today14 August, 2024
insert_link Business / Economics Bank of Namibia Forecasts Economic Growth of 3.1% for this year The Bank of Namibia’s August 2024 Economic Outlook predicts a 3.1% growth for Namibia’s economy ifor this year, with a slight increase to 3.9% in 2025. Global growth is expected to be 3.2%, rising marginally to 3.3% in next year. While the 2024 forecast remains unchanged, the 2025 projection has been adjusted upward by 0.1 percentage points due to revised growth estimates for China. Josefina Oskar, the Bank’s Communications Practitioner, […] today9 August, 2024
