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%.

Spring has certainly sprung as Namibian motorists are greeted with good news as the Ministry of Mines and Energy announces a decrease in fuel prices, effective from Wednesday, 4 September 2024. 

Road fatalities decreased by 2.2% last year, as reported in the 2022 Road Crush and Claims Report, which was launched in Windhoek by the Motor Vehicle Accident (MVA) Fund.

According to the report, the road fatality rate in 2021 stood at 13.7%, whereas in 2022, it dropped to 11.5%.