By:Uakutura Kambaekua Bank of Namibia governor Johannes !Gawaxab has urged citizens to explore the constant innovation in the payment eco-system of electronic money. He stated that the country has 2.5 million active wallets with 64 million transactions with over N$34 billion in 2022. “So the e-wallet has grown exponentially,” !Gawaxab revealed, saying the figure stood […]

By:Staff Writer Daikon Investments (Pty) Ltd has obtained a 55.2% controlling share of Namibia Plastics & Packaging Distributors (Pty) Ltd from Johan Struwig, Co-Founder and CEO of Namibia Plastics. The closing for the transfer of shares held in Namibia Plastics to Daikon was completed on 30 January 2023 following the Namibian Competition Commission’s approval of […]

By:Nghiinomenwa-vali Erastus There are economic gains if politicians, government authority and procurement experts can reach consensus to assist the local construction sector, says Bärbel Kirchner, chief executive officer of the Construction Industries Federation of Namibia (CIF). Kirchner’s appealscomes at the time the construction sector declined for the fifth consecutive quarter, registering a contraction of 10%t […]

By:Nghiinomenwa-vali Erastus To avoid grey-listing and its negative impacts, government has adopted a strategy to rectify some of its regulatory weaknesses. These are in Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation. Following the review facilitated by the Financial Action Task Force (FATF), the country’s financial system’s regulatory weakness has been found to […]

By:Nghiinomenwa-vali Erastus Contrary to the central bank’s theoretical motives to contain inflation by increasing the cost of money (repo rate), the prices of goods in the domestic market have either been increasing or steady. The last time annual inflation has been below 6% was March 2022, and for January 2023, average prices of goods have […]

By:Justicia Shipena The load shedding in South Africa is said to limit vehicle sales in Namibia, a vehicle sales analysis for January 2023 has shown. Despite this, the country has seen an increase in vehicle sales for the month, making it the best January since 2019, according to research firm, Simonis Storm. “Loadshedding in South […]

By:Jerome Mutumba As the economy evolves and as new needs become apparent, it is vital that enterprise and infrastructure finance evolves as well. If not for this evolution, the economy will begin to lag, in terms of providing an enabling environment for economic activity, solving issues, and in terms of national competitiveness on the regional […]

By:Nghiinomenwa-vali Erastus Come 2024, the financial sector, mostly the commercial banks will start giving access to their customers’ data with third party providers. This includes customer transaction data, uptake of financial service, averaged data of balance information and ATM locations. The data will be used for insights, value addition, and the development of other services. […]

By: Staff Writer Bank of Namibia has announced appointments to its management structure, primarily in the Office of the Governor, the Oshakati Branch, and the Banking Supervision Department, according to a statement issued by the bank’s spokesperson, Kazembire Zemburuka. Romeo Nel, a long-serving Director of Banking Supervision, has been appointed Technical Advisor to the Governor. […]