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BoN and NAMFISA's FSR indicates Namibian financial system remained sound and resilient

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The Bank of Namibia (BoN) and Namibia Financial Institutions Supervisory Authority (NAMFISA)'s Financial Stability Report (FSR) for 2023 indicates that the Namibian financial system remained sound and resilient in 2022.

Projected vulnerabilities in the global financial system could, however, potentially impact the domestic financial system.

Domestic economic growth improved from 3.5% in 2021 to 4.6% in 2022.

This is attributed to the primary and secondary industries, which recorded growth rates of 12.9% and 3.3%, respectively.