Search in the website:
Finance / Page 14
MPC Announcement: Unchanged Repo Rates or a Shift in Strategy?
By: Justicia Shipena Economists anticipate that the Bank of Namibia may opt to keep the repo rate unchanged rather than implementing a cut or increase in response to the slowing inflation. Currently, the repo rate stands at 7.75%, a level that has remained unchanged since December 2023. Economist Mally Likukela believes the repo […]
Long-Term Affordability Challenges to Persist in the Housing Market
Justicia Shipena In its latest House Price Index report, the First National Bank (FNB) has signalled concerns over long-term housing affordability challenges that are expected to persist, further impacting the housing market. Additionally, the bank anticipates a modest reduction in interest rates, contributing to the overall constrained conditions in the property sector. “The […]
Stability in the Rental Market Anticipated
By: Justicia Shipena FNB Namibia has projected a relatively stable rental market, citing the moderation of inflation and the sustained peak of the repo rate at 7.75%, with a gradual cutting cycle expected to extend through 2026. The bank’s rent price index reveals that the gross rental return on residential properties for the […]
TransNamib Hunts for a Lender’s Technical Advisor
By: Hertha Ekandjo TransNamib is in the process of appointing a Lender’s Technical Advisor to facilitate the finalisation of the N$2.6 billion loan it secured from financial institutions two years ago. The state-owned rail operator secured nearly two years ago with the Development Bank of Namibia (DBN) and the Development Bank of Southern Africa […]
Bankers’ Association Advises Public on Avoiding Repossession
By: Staff writer The financial challenges associated with an economic downturn can lead to distressing consequences, with asset repossession being one of the most concerning for consumers. In response to this, Brian Katjaerua, the CEO of the Bankers’ Association of Namibia (BAN), encourages effective communication to prevent repossession, asserting that banks are generally […]
RMB Namibia Scoops Best Foreign Exchange Bank Award
By: Joseph Jeremia RMB Namibia has scooped the prestigious Best Foreign Exchange Bank award in the country at the 24th annual Global Finance’s World’s Best Foreign Exchange Banks, part of the esteemed Gordon Platt Foreign Exchange Awards. These awards pay tribute to the late expert journalist Gordon Platt, who possessed over 40 years […]
‘FIMA Should Not Threaten Private Sector Pension Funds’… private sector funds irked by lack of clarity on National Pension Fund proposal
Justicia Shipena The Namibian Building Workers Pension Fund (NBWPF) has expressed concern about the lack of clarity regarding the Financial Institutions and Market Act (FIMA) and its potential mandatory preservation requirements of retirement assets. “The fact that we still do not have clarity about FIMA and possible compulsory preservations and that a national […]
Angula Assumes CEO Role at Letshego
By: Staff Writer Former Chief Commercial Officer of Mobile Telecommunication Company (MTC), Melvin Angula, has officially taken on the role of CEO at Letshego Micro Financial Services Namibia. Angula, renowned for spearheading digital transformations and delivering top-notch customer services in the telecommunications sector, is expected to usher in a new era of leadership […]
Trustco Group Sets Sights on N$2.4 Billion Capital Infusion
By: Justicia Shipena Trustco Group Holdings Ltd has outlined plans to raise N$2.4 billion from shareholders, signalling its commitment to harness Namibia’s economic potential. In a media release on Tuesday, the group announced ongoing negotiations with significant investors, underscoring its confidence in Namibia’s promising economic future and Trustco’s proven ability to channel capital […]
Treasury Bills Remain Popular, But Auction Off to a Peculiar Start
By: Nghiinomenwa-vali Erastus Fixed-income assets offered by the government continue to be the preferred choice for capital through auctions by the central bank, given the persistent budget deficit faced by the central government. However, the initial bond auction for the year has seen the government rejecting various bids and obtaining less than its planned […]