• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Sunday, May 18, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Bank of Namibia declares record N$720 million dividend

by editor
March 31, 2025
in Business & Economy
6
A A
279
SHARES
4.7k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The Bank of Namibia (BoN) has declared a record dividend of N$720 million to the government for the 2024 financial year, marking the highest payout in the central bank’s history.

You might also like

April inflation rises to 3.6%, driven by food and housing costs

NamRA uncovers N$666,000 tax refund fraud scheme

141,000 non-compliant businesses face deregistration by BIPA

This represents a significant increase from the N$511.5 million distributed in 2023.

“I am delighted to announce publicly that for the 2024 financial year, we have declared a record historic dividend to the Government of the Republic of Namibia of N$720 million (2023: N$511,470,000). I repeat: N$720 million, the first time in the history of the Bank for such a dividend to be declared,” said BoN Governor Johannes !Gawaxab said on Monday.

He attributed the bank’s strong financial performance to a N$10 billion year-on-year growth in investments, driven by higher SACU receipts, increased diamond revenue, high yields, and a favourable global interest rate environment.

“The strong reserve position in 2024 yielded strong interest income, net interest income, and total income results. Our expenses were robustly controlled and monitored during the period,” !Gawaxab said..

The central bank recorded an operating surplus of N$1 billion, consistent with the previous year, while unrealised foreign exchange gains of N$226 million contributed to an elevated surplus of N$1.37 billion.

The Governor noted that these financial gains have enabled the bank to make significant provisions for future development and operational expansion.

In addition to the dividend, BoN has allocated N$70 million to its Building Fund Reserve to expand infrastructure, ensuring the institution remains equipped for future challenges.

“The future demands that we operate smarter, to remain competitive and aligned to an ever-changing tech-driven world, and not just harder. We will continue to modernise our internal processes, embrace automation, and adopt data-driven decision-making,” !Gawaxab said.

National Planning Commission Director General Kaire Mbuende commended the central bank’s financial stewardship and its ability to deliver strong results despite global economic uncertainties.

“Once again, the Bank has declared and disbursed a historic record dividend of N$720 million to the Treasury, an instrumental increase from the N$511.5 million distributed last year,” he said.

Mbuende emphasised that the funds would be allocated to key public sectors requiring urgent investment.

“These funds, as has been customary, will support frontline public investments in education, healthcare, infrastructure, poverty eradication, and social protection, key areas highlighted by our president as essential to improving the living standards of Namibians.”

He also addressed the growing influence of artificial intelligence (AI) on the economy, warning of both opportunities and risks associated with emerging technologies.

“AI is no longer a futuristic concept but a force that is already redefining the way we live, work, and govern. From automating routine tasks to enabling complex, real-time decision-making, AI is reshaping productivity, innovation, financial markets, labour dynamics, and even the very structure of economies across the globe.”

Despite AI’s promise, Mbuende stressed the need for responsible governance and regulation.

“For all its potential, we must remain cognisant of the associated profound and far-reaching challenges that AI presents. The risks to cybersecurity are escalating, with AI tools capable of enabling sophisticated cyberattacks,” he said.

He called for proactive policies to ensure AI is harnessed responsibly while mitigating its potential risks.

BoN’s commitment to financial innovation and digital transformation was also highlighted, with several initiatives aimed at fostering a modern banking environment.

“Through its digital transformation programme, regulatory sandbox, FinTech strategy, adoption of intelligent systems, and STEAM education programme for young rural Namibians, the Bank is not only embracing the AI revolution but also actively shaping its responsible application within our financial sector and country,” Mbuende said.

author avatar
editor
See Full Bio
Tags: bank of namibiadividendJohannes !GawaxabKaire Mbuende
Share112Tweet70Share20
Previous Post

Dissecting 2025-2026 budget hits and misses

Next Post

O&L Leisure welcomes Discover Airlines’ direct Munich-Windhoek flights

Recommended For You

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails

Namibia to create 3,600 jobs through global accelerator project

by editor
April 30, 2025
0
Namibia to create 3,600 jobs through global accelerator project

Namibia is set to roll out the Global Accelerator project during the current financial year, aiming to generate over 3,600 jobs through the biomass sector and other sustainable...

Read moreDetails

Namibia’s economy to grow by 3.8% in 2025 and 4% in 2026

by editor
April 28, 2025
0
Namibia’s economy to grow by 3.8% in 2025 and 4% in 2026

Namibia’s economy is anticipated to grow by 3.8% in 2025 and 4% in 2026, from the 3.7% estimated in 2024. The slight growth is attributed to the improved...

Read moreDetails
Next Post
O&L Leisure welcomes Discover Airlines’ direct Munich-Windhoek flights

O&L Leisure welcomes Discover Airlines’ direct Munich-Windhoek flights

Related News

Affordable 7-Seaters for Namibian families

Affordable 7-Seaters for Namibian families

March 9, 2025
To cut or to hold, BoN decides

To cut or to hold, BoN decides

December 3, 2024
Environment Ministry earmarks N$80 million for developmental projects

Environment Ministry earmarks N$80 million for developmental projects

March 30, 2023

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2024 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2024 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.