Private Sector credit declines in February 2024

Private Sector credit declines in February 2024

Private sector credit extension decreased in February 2024 to 1.7% year-on-year down from 2.4% year-on-year in January 2024 and 3.1% year-on-year in February 2023. The trend reflects a continued slowdown in credit uptake, with growth consistently falling below the six-month moving average. Households were the main contributors to the credit uptake. Simonis Storm Economist, Halleluya Ndimulunde.

April 4, 2024 73

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.

December 6, 2023 30