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Financial Sector is Encouraged to follow SA’s Cybersecurity Standards
By: Nghiinomenwa-vali Erastus It has been recommended that Namibian companies in the financial sector follow South Africa’s latest legal standard for cybersecurity in the financial sector. The South African Financial Sector Conduct Authority and the Prudential Authority, have introduced regulations that outline how institutions should prevent, respond to, and recover from cyber threats. […]
Rundu Town Council Proposes N$284 Million Budget for 2025/2026
By: Annakleta Haikera The Rundu Town Council has proposed a capital project budget of N$284,1 million for the 2025/26 financial year, marking a 15% increase from the previous year’s budget of N$245,995,825. This was announced during a recent meeting between council representatives and residents, held in the Kavango East region. The council’s […]
60 Out of 121 Constituency Youth Enterprise Proposals Ready for Financing
By: Nghiinomenwa-vali Erastus A report by the National Council Standing Committee on Education, Science, ICT, and Youth Development has revealed that 60 out of 121 proposals under the Constituency Youth Enterprise Initiative are ready for financing. The Committee shared its findings following engagements with the now-dismantled Ministry of Sport, Youth and National Services. […]
Nam to Start Backing Currency with Gold
By: Nghiinomenwa-vali Erastus As part of its evolving foreign exchange reserve management strategy, the Bank of Namibia will begin accumulating gold to diversify and strengthen the country’s reserve assets. The central bank aims to allocate 3% of its foreign exchange (FX) reserves to gold, a move it says is aligned with global trends in central […]
Govt to Borrow N$29.8 Billion This Year…N$21.2 Billion to Be Sourced Locally
By: Nghiinomenwa-vali Erastus The government plans to borrow N$29.8 billion during the 2025/26 financial year to meet its budgetary requirements and other financial obligations. Of this amount, N$21.2 billion will be raised from the domestic market, according to the finalised Borrowing Plan released by the Bank of Namibia on behalf of the government. […]
US Dollar Reserve Global Dominance Shrinks
By: Nghiinomenwa-vali Erastus A summary done by the Bank of Namibia last week shows that the USA dollar’s dominance as a global reserve currency has eroded from over 70% in 2000 to 59% in Q1 2024. The USA dollar has been the dominant/principal reserve currency – where central banks stack it up in large quantities […]
Non-Bank Financial Sector Assets Near Half a Trillion Mark
By: Nghiinomenwa-vali Erastus The total assets of Namibia’s non-bank financial institutions reached N$474.1 billion by the end of December 2024, bringing the sector just a few million dollars shy of the half-a-trillion mark — and nearly three times the size of the country’s economy. According to the Namibia Financial Institutions Supervisory Authority (Namfisa) Quarterly Reports […]
NamRA Beats Revenue Target for 2024/25
By: Justicia Shipena The Namibia Revenue Agency (NamRA) has surpassed its revenue target for the financial year FY2024/5, collecting a net total of N$88.6 billion to beat the target of N$85.3 billion. According to the agency’s report, their gross revenue collection reached N$98.9 billion, with refunds amounting to N$10.4 billion for the period from 01 […]
Special Economic Zones Framework in Final Stages
By: Justicia Shipena The Namibian government says it moving forward with the finalisation of its Special Economic Zones (SEZ) regime. This was announced by the Finance and Social Grants Minister, Ericah Shafudah, during her recent tabling of the 2025/2026 national budget. SEZ framework intends to promote competitive industrial zones that adhere to international best […]
80-year Impact of the World Bank and IMF Questioned
By: Dwight Links Members of Parliaments from around the world were looking at the 80-year impact of these institutions up to now and indicated their annoyance at the approaches that these institutions have used towards assisting development. Namibia’s parliamentary standing committee Economics Public Administration also attended the 2024 edition of the Global Parliament […]