Inflation has slowed to an average of 4.8% during the first seven months of 2024, down from 6.2% in the same period last year.
This has enhanced consumers's purchasing power and contributed to more stable prices.
The Bank of Namibia has reduced the repo rate by 25 basis points from 7.75% to 7.50%.
The central bank's decision aims to strengthen domestic economic activity and maintain the stability of the Namibia Dollar's peg to the South African Rand, supported by sufficient international reserves.
The domestic economy is expected to expand by 3.7% in 2024 and is forecast to further grow by 4.1% in 2025, indicating a positive trajectory for the country's economic landscape.
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.
Namibia has been greylisted by the Financial Action Task Force (FATF) because of concerns over the effectiveness of some of its compliance standards with anti-money laundering, combating the financing of terrorism, and combating proliferation financing provisions.
Despite drizzling rain, Hardap residents continued with the regional memorial service in honour of the late President Geingob.
As part of the regional memorial services, hundreds of residents gathered at the Mariental Sports Field to pay tribute and honour the man they call like no other.
The Bank of Namibia (BoN) has issued a warning to the public, highlighting a concerning rise in fraudulent investment scam activities.
These scams have been targeting and leveraging references to the Namibian government, its various ministries, offices, and agencies.
It has come to light that Meatco has been selling its products at significantly cheaper prices on the international market compared to its local competitors.
The company is bleeding financially and is being bailed out by the government regularly.
In a move to support sustainable economic growth and combat climate change, the Bank of Namibia has officially become a member of the Network for Greening the Financial System (NGFS).
Former Development Bank of Namibia's (DBN) Chief Executive Officer, Martin Inkumbi, has been appointed CEO of the Government Institutions Pensions Fund (GIPF), effective January 15, 2024.
