FINANCE

FINANCE 2023-03-29T07:36:20+00:00

Finance Sectors

NAMIBIA HAS SOLID FOUNDATIONS FOR DEMOCRACY, GOOD GOVERNANCE, PEACE AND STABILITY. THE FOREIGN INVESTMENT ACT PROVIDES SPECIFIC PROTECTION FOR FOREIGN INVESTORS IN NAMIBIA. AFRICA AND NAMIBIA’S POTENTIAL FOR INCREASING GROWTH REMAINS. NAMIBIA CAN BECOME A FUTURE HUB OF REGIONAL AND CONTINENTAL GROWTH.

The government as well as the private sector continuously strives to enhance Namibia’s attraction as an investment destination.

Well-established business professionals in the finance sector have a thorough understanding of the Namibian business environment, wheth­er it is financial management, tax and advisory services, investment management companies, banks that offer highly sophisticated banking systems or insurance.

The importance of the financial sector to the general economic growth of a country is well documented. Where financial services are supplied broadly and effectively they accelerate economic growth, increase the efficiency of resource allocation and improve the distribution of wealth, in line with Namibia’s 2030 vision.

The overall objective of the Namibian Financial Sector Strategy (NFSS) is to develop a more resilient, competitive and dynamic financial sys­tem with best practices so that the sector can realise its full potential in respect of its contribution to economic growth and achieving the socio-economic objectives of poverty reduction and wealth creation. Furthermore, the strategy envisions the emergence of strong and in­novative domestic financial institutions that are more technology driven and ready to face the challenges of globalisation.

The strategy focuses on reforms in the following key areas:

  • Deepening financial markets and developing a financial safety net
  • Financial inclusion through
    • Consumer financial literacy and protection
    • Access to financial services and products
    • Localisation of the Namibian financial sector
    • Skills development in the financial sector

By the end of year 2021 the following should have been achieved:

  • a deeper and more efficient financial system
  • respected, world-class regulators
  • a stable, well-regulated and competitive financial sector
  • significant local ownership of financial institutions
  • an inclusive financial sector
  • financially literate and protected consumers of financial services and products.

THE MINISTRY OF FINANCE

The Ministry of Finance is responsible for matters concerning central government finances – including coordination of the central govern­ment budget, forecasts and analyses – tax issues, the management and administration of central government activities as well as financial mar­kets and consumer legislation.

VISION
To be a dynamic and reputable institution excelling in fiscal and finan­cial management.

MISSION
We develop and administer fiscal and financial policies that ensure macro-economic stability, sustainable and equitable socio-economic development.

VALUES
Integrity, Loyalty, Accountability, Competency

The Ministry of Finance – Molkte Street, Windhoek – Private Bag 13295, Windhoek – +264-61-2099111 – www.mof.gov.na
Office Telephone Numbers, country & city code +264 61
Minister 209 9111
Deputy Minister 209 9111
Permanent Secretary 209 2929
Director: Expenditure and Financial Management 209 2705
Director: Administration 209 2925
Director: Customs and Excise 209 2811
Director: EPAS 209 2131
State Accounts 209 9111
Tender Board Secretariat 209 2136
Auxiliary Services 209 9261
Inland Revenue Management 209 9111

KNOW YOUR CURRENCY

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NEW BANKNOTE FAMILY
Both the old and upgraded banknotes will run concurrently and will be accepted as legal tender in the payment for goods and services in Namibia.

VITAL CONTACTS

BAN – Bankers Association Of Namibia 

P O Box 195, Windhoek 

Tel: +264 61 299 2116 

Davel.Botha@capricon.com.na 

www.ban.na 

EAN – Economic Association Of Namibia 

P O Box 21459, Windhoek 

Tel: +264 61 220 2181 

info@ean.org.na 

www.ean.org.na 

ICAN – Institute Of Chartered Accountants Namibia 

P O Box 21459, Windhoek 

Tel: +264 61 220 2181 

secretariat@ca-nam.com 

www.ican.com.na 

Financial Intelligence Centre 

P O Box 2882, Windhoek 

Tel: +264 61 283 5287 

helpdesk@fic.na 

www.fic.na 

NIPA – Namibia Institute Of Professional Accountants 

P O Box 90756, Windhoek 

Tel: +264 61 38 2700 

reception@nipa.com.na 

www.office@nipa.com.na 

NSE – Namibia Stock Exchange 

P O Box 2401, Windhoek 

Tel: +264 61 227 647 

info@nsx.com.na 

www.nsx.com.na 

PAN – Payments Association of Namibia 

P O Box 134, Windhoek 

Tel: +264 61 41 5420 

info@pan.org.na 

www.pan.org.na 

All Namibian banks are connected to major international communication
networks, ensuring fast and efficient transfers of funds to and from
other centres in the world.
In September 1993 Namibia introduced its own currency, the Namibia
Dollar (N$), divided into 100 cents. The Namibia Dollar is linked to the
South African Rand (ZAR), which is also legal tender in Namibia.