Former Development Bank of Namibia's (DBN) Chief Executive Officer, Martin Inkumbi, has been appointed CEO of the Government Institutions Pensions Fund (GIPF), effective January 15, 2024.

The domestic economy is projected to expand by 3.9% in 2023, followed by a moderation to 3.4% in 2024. 

This is contained in the latest economic outlook released by the Bank of Namibia (BoN).

The central bank's latest forecast reflects a downward revision of 0.2% compared to the previous update.

The Monetary Policy Committee of the Bank of Namibia has again decided to keep its repo rate unchanged at 7.5%.

The Bank of Namibia says the decision follows a comprehensive review of global, regional, and domestic economic developments.

Justice Minister Yvonne Dausab tabled the High Court Amendment Bill and the Magistrate's Court Amendment Bill in the National Assembly, which will give equal rights to litigants in house or immovable property repossession cases.

The Bank of Namibia's Governor Johannes !Gawaxab says there are no plans for the country to delink the Namibian dollar from the South African Rand.

He made the remark at the Monetary Policy Dialogue held in Windhoek on Thursday.

The Central Bank will make its monetary policy announcement on Wednesday.

The ultimate objective of monetary policy in Namibia is to see if it is necessary to either raise or decrease the repo rate.

The repo rate is the premium the Bank of Namibia charges banks for money it advances.