Month: March 2020

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Bank Windhoek confirms new interest rates

In response to the announcement by the Monetary Policy Committee of the Bank of Namibia to decrease the policy rate as announced on 20 March 2020, Bank Windhoek hereby confirms the reduction of its Prime Lending Rate by 1.00% from 10.00% to 9.00%. The Mortgage Lending Rate will decrease from 11.00% to 10.00%

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Shiimi hailed as ‘breath of fresh air’ in finance ministry portfolio

Economists and business leaders have hailed former central bank governor Iipumbu Shiimi as new finance minister as a welcome development, given his extensive economic and banking background. President Geingob on Sunday appointed Shiimi to the finance ministry while former finance minister Calle Schlettwein, a trained biologist, has been moved to the merged agriculture, water and land reform ministry.