• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 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 Companies Finance

Non-banking sector assets record 9% growth in Q3 2024 to N$486.6 billion

by editor
December 12, 2024
in Finance
9
A A
309
SHARES
5.2k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The country’s Non-Bank Financial Institutions (NBFIs) sector achieved a 9% growth in assets during the third quarter of the year, reaching N$486.6 billion, recent data from the Bank of Namibia shows.

You might also like

NamRA collects N$12.78 billion in first two months of financial year

BoN orders banks to cut gap between repo and lending rates

DBN secures Green Climate Fund accreditation

According to the Governor of the central bank, Johannes !Gawaxab, this expansion was primarily attributed to favourable global financial market conditions, steady demand for NBFI products, easing inflation rates and increased government spending.

Notably, both the retirement funds and long-term insurance subsectors outperform inflation with medium-term investment returns, maintaining sound capital reserves and solvency.

“In the third quarter of 2024, the sector experienced robust growth, with assets expanding by 9.0 per cent on a quarterly basis, reaching N$486.6 billion. The expansion in assets is attributable to conditions in global financial markets and steady demand for NBFI products, bolstered by easing inflation rates and increased government spending,” he said.

He further explained that the collective investment schemes sub-sector continued to play a crucial role in the Namibian economy by providing a significant source of liquidity, further bolstering financial system stability.

On the other hand, the banking sector also remained resilient during the review period, with total assets growing by 3.7% to N$181.0 billion in Q3 2024.

While non-performing loans (NPLs) increased slightly to 5.9%, driven by consumption-based credit, the sector maintained sufficient provisions and adequate capital to absorb potential credit losses.

“Notwithstanding this, the banks have sufficient provisions and adequate capital to absorb potential credit losses. In addition, the Bank has imposed the necessary supervisory interventions to contain credit risk and will continue to monitor the developments to ensure stability,” he said.

This comes as Namibia’s real GDP growth is projected to moderate to 3.5% in 2024 before improving to 4.0% in 2025.

The slowdown is attributed to prolonged droughts, falling diamond prices, and subdued global demand for mineral exports.

Risks to the economy remain tilted to the downside, with uncertain rainfall patterns and water supply interruptions posing challenges.

!Gawaxab also said that the property market faced challenges such as subdued mortgage credit demand, elevated interest rates, and low housing sales.

However, he said regulatory measures and accommodative monetary policies are expected to stimulate the market moving forward.

Namibia’s Interbank Settlement System (NISS) operated efficiently, with most payment obligations settled early to minimise risks.

Macroprudential policies continue to enhance the banking sector’s resilience, according to the Governor, with measures such as the easing of loan-to-value ratios and preparations for a countercyclical capital buffer already underway.

“As such, the Committee has determined that no macroprudential policy intervention is required at this stage. The MOC will continue to closely monitor the economic and financial conditions, as well as the overall risk environment, and when warranted, take the necessary remedial macroprudential action with the tools at its disposal,” he said.

author avatar
editor
See Full Bio
Tags: bank of namibiafinancial marketsJohannes !GawaxabNon-banking sector
Share124Tweet77Share22
Previous Post

Windhoek approves 169 building plans worth N$166.3 million in November 

Next Post

NamWater boosts revenue to N$2.1 billion 

Recommended For You

NamRA collects N$12.78 billion in first two months of financial year

by reporter
July 9, 2025
0
NamRA sees drop in illegal vehicle imports following moratorium

The Namibia Revenue Agency (NamRA) has collected N$12.78 billion in revenue between 1 April and 31 May 2025, as part of the current financial year. Of this total,...

Read moreDetails

BoN orders banks to cut gap between repo and lending rates

by reporter
July 2, 2025
0
BoN orders banks to cut gap between repo and lending rates

The Bank of Namibia (BoN) has directed all commercial banks to narrow the gap between the repo rate and lending rates by 25 basis points in two stages...

Read moreDetails

DBN secures Green Climate Fund accreditation

by reporter
July 2, 2025
0
DBN secures Green Climate Fund accreditation

The Development Bank of Namibia (DBN) has been officially accredited by the Green Climate Fund (GCF), a move expected to improve Namibia’s ability to access international climate finance....

Read moreDetails

Bank of Namibia meets incoming Bank Windhoek MD

by reporter
July 2, 2025
0
Bank of Namibia meets incoming Bank Windhoek MD

The Bank of Namibia has officially met with James Chapman, who will take over as Managing Director of Bank Windhoek in July 2025. Chapman was introduced to BoN...

Read moreDetails

Standard Bank invests N$35 million in CSI initiatives over five years

by reporter
June 30, 2025
0
Standard Bank invests N$35 million in CSI initiatives over five years

Standard Bank Namibia says it has invested more than N$35 million in Corporate Social Investment (CSI) initiatives over the past five years. The bank’s wide-ranging support spans health,...

Read moreDetails
Next Post
NamWater boosts revenue to N$2.1 billion 

NamWater boosts revenue to N$2.1 billion 

Related News

B2Gold to buy out Forsys’ shareholding in Razorback for N$117m

B2Gold to buy out Forsys’ shareholding in Razorback for N$117m

January 26, 2022
Namibia, EU reach provisional deal on rare earth minerals

Namibia, EU reach provisional deal on rare earth minerals

October 21, 2022
SA may be entering fifth Covid wave – health minister

SA may be entering fifth Covid wave – health minister

April 29, 2022

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • 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
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 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

© 2025 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.