Namibia’s financial sector has remained strong despite global economic pressures, according to the latest Financial Stability Report launched today.  

The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 6.75%.

The Governor of the Bank of Namibia, Johannes !Gawaxab has announced that the Central Bank will introduce an entirely new Namibian Currency Series as of June 2025.

The Bank of Namibia will launch the late President Dr. Hage Geingob Commemorative Banknote, which it describes as an enduring tribute to the life, legacy, and his unparalleled contributions.

Erongo Governor Neville Andre commended the Bank of Namibia for leading the Namibian Financial Sector Transformation Strategy (NFSTS), recognising the financial sector’s vital role in national development.

The Bank of Namibia (BoN) and the Communications Regulatory Authority of Namibia (CRAN) will strengthen regulatory cooperation following the signing of a new Memorandum of Understanding aimed at enhancing collaboration in regulating the telecommunications and financial sectors.

The repo rate has reduced by 25 basis points to seven percent. 

Central Bank Governors recently met in Windhoek for a quarterly meeting aimed at addressing pressing regional and economic issues to reinforce collaboration within the Common Monetary Area.

Managing climate-induced inflation requires a fine balancing act, especially when coupled with high unemployment and weak economic conditions, Bank of Namibia Governor Johannes !Gawaxab has said.

The Bank of Namibia has reduced the repo rate by 25 basis points from 7.5% to 7.25%. 

Commercial banks are expected to reduce their prime lending rates by the same margin, from 11.25% to 11%.