The Bank of Namibia plans to launch an upgraded Namibian currency series in 2025. 

Central Bank Governor, Johannes !Gawaxab unveiled a modified N$100 note in Luderitz, announcing at the same time that the bank will undertake a minor upgrade on the current banknote series and a complete upgrade of the coin series.

The first Namibian banknotes and coin series were issued in 1993 and are now 30 years old. 

In May 2012, the Bank issued the second family of banknotes with state-of-the-art security features, which are currently in circulation. 

Namibia can draw lessons from other oil-producing economies as the country positions itself to ensure a sustainable future.

The country is expected to be among the top 15 oil producers in Africa by 2035, should it stay clear of corrupt practices and mismanagement of natural resources.

Speaking at a public lecture on Preventing the Dutch Disease: How to Position Namibia's Oil and Gas Endowments at Lüderitz organised by the Bank of Namibia, its Governor, Johannes !Gawaxab said new discoveries could potentially double the country's GDP and its output.

The Bank of Namibia has won the award for transparency at the annual Central Banking Awards for its enhanced transparency in monetary policy communication. 

Organised by Central Banking Publications, the annual awards celebrate outstanding performance in the central banking community.

As the overall winner in the Transparency Category, the Bank of Namibia was recognised for its efforts in broadening the reach and depth of its monetary policy communications and enhancing transparency in the execution of its price stability mandate.

In a bid to empower underprivileged residents of Keetmanshoop to become self-reliant, the local ZTT AME Church congregation formed an initiative dubbed the EMEME Partnership.

The initiative, registered as a non-profit organisation, was officially launched during a fundraising gala dinner at Keetmanshoop.

Reverend Leslie Leukes, spiritual leader of ZTT AME Church Congregation, says the name EMEME is based on the pillars of education, mission, evangelism, management, and economic empowerment.

The Bank of Namibia, in partnership with the Namibia Revenue Agency, has embarked on a journey to digitalise Namibia's trading system while protecting revenue flow in the country.

Namibia's launch of the Trade Verification System (TVS) demonstrates the country's commitment to strengthening its financial systems and ensuring a transparent and legitimate trade environment.

The system is designed to streamline international trade procedures and combat illicit financial flows.

The Bank of Namibia has announced the maintenance of the repo rate at 7.75 percent, a decision coming on the heels of the recent drop in local fuel prices.

This move is expected to bring a sigh of relief across the nation amid economic challenges.

Central bank Governor Johannes !Gawaxab, at the year's sixth Monetary Policy announcement, explained the decision as based on supporting the domestic economy and safeguarding the one-on-one peg between the Namibian dollar and the South African Rand.

The Bank of Namibia (BoN) has released amended regulations on loan-to-value ratios to stimulate property investment and support economic recovery.

Under the new regulations, the loan-to-value (LTV) ratios for additional property purchases have been further relaxed.

Borrowers seeking a mortgage loan for a second residential property will no longer need to provide a deposit.

For third and subsequent residential properties, a 10% deposit is now required.

NASRIA has embarked on a new venture that expands its Credit Guarantee Scheme, an innovative insurance product that aims to empower SMEs.

The government, through a smart partnership with the Bank of Namibia, the Development Bank of Namibia, the Namibia Special Risks Insurance Association, and participating financial institutions, has structured a Credit Guarantee Scheme facility that will provide 60% collateral cover for a viable SME business loan.

The credit guarantee scheme is an innovative insurance product aimed at capacitating both existing and new SMEs.

In cooperation with the UN in Namibia, the Bank of Namibia, the Ministries of Labour, Industrial Relations, Employment Creation, Industrialization, and Trade intend to conduct a study to comprehend the informal economy and its diversity, pinpoint solutions for related problems, and highlight opportunities for interventions.

Informal employment in Namibia has significant implications for people, enterprises, and the country's economy and social development.

The Bank of Namibia (BoN) has suspended the authorization of Trustco Bank Namibia to operate as a banking institution.

The BoN said in a statement that the decision is in accordance with the bank's Act and follows consultations with the Minister of Finance and Public Enterprises.

Governor Johannes !Gawaxab noted that the suspension is temporary and is subject to Trustco Bank rectifying certain stipulated instances of non-compliance within six months.