FINANCE

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

KNOW YOUR CURRENCY

Inspect security features

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.