The National Assembly has approved an amount of about N$12.9 billion to be allocated to the Ministry of Finance.

Members of Parliament shared their views and suggestions on the budget prior to the approval of the vote.

The Finance Ministry has tabled a N$12.8 billion operational budget for the 2026-2027 financial year.

Finance Minister Ericah Shafudah, in tabling her ministry's budget, stated that it aims at sustaining core government functions and service delivery.

The Minister of Finance says the national budget is not merely a statement of numbers but an instrument of fiscal reform which advances disciplined consolidation anchored on primary budget balance.

The debate on the appropriation bill is now set to proceed to the committee stage.

The Minister of Finance, Ericah Shafudah, officially launched the Retirewise booklet in Windhoek.

An initiative by the Financial Literacy Initiative aims to enhance financial literacy and promote long-term financial well-being for all retirees.

The Financial Literacy Initiative, in conjunction with the Ministry of Finance, will launch a "RetireWise Booklet", an initiative that aims to enhance and promote the financial well-being of retirees and those set to retire.

The Ministry of Finance says it has finalised the Public Enterprises Governance Act's (PEGA) amendments.

With NamPost to officially taking over the distribution of social grants from 1st October, concerns have been raised about whether the Ministry of Finance will make provision for the beneficiaries residing in remote areas without them having to travel long distances.

The Namibian government spends around N$7 billion yearly on social grants, with old-age pensions accounting for nearly half of the total. 

Michael Humavindu, the Executive Director in the Ministry of Finance, cautions that raising the pension to a mere N$2,000 could push the bill close to N$9 billion.

The Ministry of Finance has started the process of phasing out social grant cash payments. 

The Deputy Director of Social Assistance, Albert Biwa, made the announcement at the consultative meeting with social grant recipients at Keetmanshoop. 

NamPost will take over the payment of all social welfare grants under the cash pay mode starting 1st October this year.

The Ministry of Finance shared this information during the launch of the regional engagement initiative on social grants at Rundu.