Bank of Namibia Extends Timeline for Implementation of Electronic Fund Transfer Regulations

The Bank of Namibia has announced a postponement in the implementation of the new regulations governing electronic fund transfers within the national Payment System Determination. Sandra Garises, the bank's principal communication officer, disclosed that PSD-9, initially set to take effect by the end of April, will now be enforced on September 30, 2024. She explains what it entails.

April 15, 2024 80

Business / Economics

04 April 2024 Morning Biz News: Financial Highlights and Global Market Trends

Here's a roundup of the latest financial news and global market trends shaping economic landscapes worldwide: Namibia's Oil and Gas Sector Attracts Significant Investments: The Bank of Namibia has reported that the oil and gas sector in Namibia has received N$33.4 billion in foreign direct investments between 2021 and 2023. Governor Johannes !Gawaxab highlighted the transformative potential of these investments, which have been catalyzed by a substantial oil discovery in […]

April 4, 2024 9

Namibia

Bank of Namibia Honored for Transparency at Central Banking Awards

The Bank of Namibia has received the prestigious transparency award at the annual Central Banking Awards, organized by Central Banking Publications. This recognition celebrates outstanding performance within the central banking community. Naufiku Hamunime, the Acting Director of Strategic Communications and International Relations at the Bank, shares insights on this achievement.

March 19, 2024 44

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 47

Business / Economics

South African Reserve Bank Keeps Repo Rate Unchanged, BoN Likely to Follow Suit

The South African Reserve Bank has decided to maintain the repo rate at 8.25%, with the prime lending rate at 11.75%. The Bank of Namibia, usually aligned with the SARB to uphold the currency peg, is expected to follow suit. Currently, Namibia's repo rate is at 7.75%. The BoN's upcoming monetary policy meeting on 14 February will provide further insights. Insights from Salomo Hei, Managing Director of High Economic Intelligence.

January 26, 2024 18

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 22

Namibia

Bank of Namibia and the Mines ministry have solidified their dedication to propelling the national economic agenda

The Bank of Namibia and the Mines and Energy ministry have solidified their dedication to propelling the national economic agenda within the burgeoning mining and energy industries. They have formally signed a Memorandum of Understanding to this effect. Ratified by Johannes !Gawaxab, the Governor of the Bank of Namibia, and Thomas Alweendo, the Minister of Mines and Energy. Sandra Garises, the Principal Communications Team Leader at the Strategic Communications and […]

December 22, 2023 12

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.

December 14, 2023 28

BoN