The much-talked-about and anticipated new minimum wages have been published in the government gazette.

The new remuneration changes will become effective on January 1, 2025. The gazette states that the minimum wage for employees in Namibia will be N$18.00 per hour.

The strong performance of the Namibian Dollar (NAD) against the US Dollar (USD) in July, at N$18.21 to US$1, is among many factors that resulted in fuel prices remaining unchanged for August.

Motorists will once again breathe a sigh of relief as both petrol and diesel grades will remain unchanged.

Namibia's borrowing and debt levels have been a concern in recent years, but are now under control and are showing a decline since the beginning of this year.
 
Finance and Public Enterprises Minister, Iipumbu Shiimi, said the country's debt level is still sustainable and within controllable levels.

The Central Procurement Board of Namibia has flagged construction, security services, and cleaning companies as among those not adhering to labour law's minimum wage provision and also exploiting workers.

Namibia and Indonesia are in the process of mapping out and exploring new areas of cooperation.

This is in line with Indonesia's economic cooperation with Africa, aimed at transforming and establishing relations into economic cooperation for mutual benefits between the two countries.

Clients of the First National Bank of Namibia (FNB) who receive cross-border electronic fund transfer (EFT) payments within the Common Monetary Area (CMA) will no longer be permitted to use domestic payment methods and channels.

These cross-border payment changes take effect next month.