Benefits from the current fixed one-to-one exchange rate arrangement between the Namibia Dollar and the South African Rand outweigh the costs, and delinking is not an option, as it would severely negatively impact the domestic economy in various ways, the Bank of Namibia governor has said.
The difference in repo rates between South Africa, which currently stands at 8.25%, while Namibia is at 7.75%, amounting to a difference of 50 basis points, continues to be the reason that many investors chase better returns in South Africa.
The City of Windhoek is owed a staggering N$1.2 billion as at May 2023. City spokesperson Lydia Amutenya stated the amount also includes the current accounts that are due for payment in June 2023.
The land of the brave was this week selected to host the Africa Hospitality Investment Forum (AHIF) in 2024.
Namibians were yesterday slapped heavily after the Bank of Namibia governor Johannes !Gawaxab announced that the repo rate has increased by 50 basis points, from 7.25% to 7.75% with immediate effect. Bringing the prime lending rate to 11.50%.
The Chamber of Mines of Namibia welcomed Cabinet’s decision to prohibit the exportation of Namibia’s critical minerals in raw form in a bid to create more local jobs and more local value.
The Bank of Namibia is expected to throw yet another jab at consumers with the third repo rate announcement of the year this morning.
The Namibia Financial Institutions Supervisory Authority (Namfisa) continues to pour millions of dollars into office rental and parking.
Lawmakers are investigating how they can rescue ordinary consumers from high interest rates and exorbitant charges at commercial banks.
National power utility NamPower management and board members resolved to put its plans on hold to disconnect defaulting customers until the end of August 2023.