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The Bank of Namibia (BoN) says it will exercise increased caution when dealing with transactions or clients from South Africa following its greylisting by the Financial Action Task Force (FATF).
The increase of interest rate has become a norm, with the continuous effort by the Monetary Policy Committee of the Bank of Namibia to stabilise the national economy and to maintain the one-to-one ratio peg between the South African Rand and the Namibia Dollar.
Inflation is high, and interest rates have soared. How much further Bank of Namibia (BON) needs to raise interest rates, and whether the economy can prosper as it raises it, are crucial questions without clear answers.
The Development Bank of Namibia (DBN) has announced that its Business Recovery Loans have been further subsidized in response to calls by businesses for access to affordable credit, and will now include a 12-month interest-free period following disbursement of the loan.
The Bill of the much-anticipated creation and implementation of the Welwitschia Sovereign Wealth Fund, that is sought to boost the country’s economic recovery and also serve as a solid foundation that can back up the country’s economy, will be tabled in parliament in 2024.
Capricorn Group Limited has recorded N$698.2 million in after-tax profit for the six months ended 31 December 2022, a 20.3% increase compared to N$580.5 million recorded prior year.
The Government Institutions Pension Fund (GIPF) has announced that it will suspend monthly benefit payments in March 2023 to all pensioners, spousal and children beneficiaries who have not enrolled on the Fund's new biometric enrollment system by February 28, 2023.
Namibian Ports Authority (Namport) has received an affirmation of its National Long-Term Rating at 'AA+(zaf)' with a Stable Outlook, and its National Short-Term Rating at 'F1+(zaf)' by Fitch Ratings, a global ratings agency.
The Monetary Policy Committee (MPC) of the Bank of Namibia (BoN) at its first meeting for the year resolved to hike the repo rate by25 basis points, inline with analyst forecasts.