The Bank of Namibia (BoN) has declared a dividend of more than half a billion dollars.

This underscores a major improvement in the central bank's performance for the past financial year compared to that of the previous financial year, representing an increase of almost N$100 million.

During the previous financial year, the bank distributed a dividend of N$413.7 million.

BoN's 2023 annual report, prepared in line with the Bank of Namibia Act, shows that the central bank declared a dividend of N$511.5 million to its main and only shareholder, the government.