The Bank of Namibia (BoN) has announced a 25-basis point increase in the repo rate to 6.75%. The move came in light of rising inflation, global economic uncertainty, and the need to protect the currency peg between the Namibian dollar and the South African rand.

President Netumbo Nandi-Ndaitwah has reiterated that agriculture remains the backbone of national development, with food security driving economic stability. 

The Monetary Policy Committee of the Bank of Namibia has decided to keep the repo rate unchanged at 6.75%.

First-time recipients of the N$600 Conditional Basic Income Grant (BIG) in Karasburg expressed joy at receiving government financial assistance.

The initiative, replacing the food bank, aims to reduce financial hardships for the unemployed and boost economic stability.