The Bank of Namibia has again increased the repo rate, this time by 50 basis points, from 5.5 to 6.75 percent.

Governor Johannes !Gawaxab says the raise is done in an effort to anchor inflation expectations as well as safeguard the one-on-one peg arrangement with South Africa.

!Gawaxab says the decision was taken following a comprehensive review of global, regional, and domestic economic developments.

There was a need, he says, to strike a balance between controlling inflation expectations and supporting the domestic economy's recovery.

With a host of newly discovered energy sources in Namibia, including oil, gas, and green hydrogen, the Bank of Namibia's annual symposium has dissected how to maximize economic growth from renewable and non-renewable energy sources in the country.

The annual symposium was aimed at promoting policy dialogue supportive of sustainable economic development in the country. 

It also created a platform for stakeholders to debate issues critical to the country's economic development.