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

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.

The repo rate will remain unchanged at 7.75% for the upcoming two months.

This announcement was made by Bank of Namibia (BoN) Governor Johannes !Gawaxab during the monetary policy declaration at Oshakati.

The Bank of Namibia is hosting a two-day economic reporting workshop for northern journalists to enhance their capacity to report accurately and effectively on economic issues.

Remittances, or money transferred by Namibians working abroad, make a significant contribution to the country's economy and foreign currency earnings.

According to the Bank of Namibia, remittance inflows in the country are estimated to be over N$1.5 billion annually.

The Governor of the Bank of Namibia, Johannes !Gawaxab, says the persistently high cost of living is a cause for concern that puts ordinary Namibians under pressure.

!Gawaxab advised that central banks combat inflation that disproportionately affects vulnerable members of society.

The Bank of Namibia (BoN) wants credit extension decisions to be taken locally, a move it says is not against foreign investment.

The Bank's Governor, Johannes !Gawaxab says the amount of credit extended to locals currently, especially Small and Medium Enterprises, is quite low.

The Bank of Namibia (BoN) is worried about the risks posed to the positive economic outlook by challenges such as water supply disruptions, looming droughts, and infrastructure constraints.

The Bank of Namibia (BoN) projects an increase in the government's income as well as a narrowing of the budget deficit for the 2023–24 financial year.