Finance

Finance (282)

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 Central Banks use interest rate increases to slow down the increase in inflation. These past few months have tested the resolve of even the most seasoned of investors.

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The City of Windhoek (CoW) has secured two loans totaling N$155 million from the Development Bank of Namibia (DBN) to fund its shortfall to finance the N$228-million Khomas intake substation project to ensure additional capacity to support the City’s forecasted power demand. 

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The Government Institutions Pension Fund (GIPF) has invested over N$ 306 million in the Oshana region of which over N$110 million is invested in Ondangwa through land servicing and construction.

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Banks loans and mortgages were the major drivers of household credit in August, latest figures show.

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The City of Windhoek has entered into a N$135-million loan agreement with the Development Bank of Namibia, to finance the Khomas intake substation project to ensure additional capacity to support the City’s forecasted power demand.

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The need for financial education among Namibians has increased over the past couple of years, with a continued increase in the levels of non-performing loans from the recently published financial statements of two of the big banking groups in the country.

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The Bankers Association of Namibia (BAN) was established in 1997 and incorporated as a non-profit association under section 21 of the Companies Act 28 of 2004 as the representative trade association for the commercial banking sector in the country.

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The Bank of Namibia (BoN) has filed a High Court application seeking to liquidate Trustco Bank Namibia (TBN), which it claims to be commercially insolvent.

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Savino del Bene, a clearing agent company owned by Kobus Maree, has filed a N$10.5 million lawsuit against the Ministry of Finance and Hollard Insurance.

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Namibia and Eswatini have exchanged notes on the best practices to conserve and manage the environment. 

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