Economic Pulse - June 2023 The largest global banking crisis since 2008 emerged in March this year, resulting in US regulators shutting down and selling three small- to mid-sized banks over the span of five days. In the same month, in Europe, troubled Swiss giant, Credit Suisse was take-over by a rival bank in a [...]
Economic Pulse - May 2023 2023 was off to a flying start, with the first quarter of the year being a generally positive one for Namibia in terms of economic and financial developments. On the economic front, preliminary National Accounts data from the Namibia Statistics Agency show that Namibia recorded real GDP growth of 4.6% [...]
By Reginald Baking and Frans Uusiku eCommerce has become a buzz word as one of the key revelations of the 21st century economic realities. We have all witnessed the advent of the COVID-19 pandemic further reinforcing the importance of being able to buy and sell goods and services or transmitting funds or data over [...]
THE NAMIBIAN ECONOMY IS EXPECTED TO GROW BY 2.7 PERCENT IN 2021 1. Introduction The Bank of Namibia released the Economic Outlook update for February 2021 with the domestic economy expected to recover to a growth rate of 2.7 percent in 2021, from a deep contraction of 7.3 percent [...]
By: Bank Windhoek’s Market Research Analyst, Loide David In August, the Bank of Namibia (BoN) cut its benchmark interest rate by another 25 Basis Points (BPS), a standard unit of measure for interest rates, to a record low of 3.75 percent, after the South African Reserve Bank's interest rate was cut by the same margin in [...]
PRESS RELEASE: 11 February 2021, Windhoek BANK OF NAMIBIA RALLIES DOMESTIC ECONOMIC PLAYERS TO SUPPORT ECONOMIC RECOVERY In line with its mandatory obligation to provide sound advice that informs robust and agile policy making, the Bank of Namibia on Thursday, 11 February 2021, hosted an economic roundtable with Chairpersons [...]
MTC Namibia presented strong financials for the year 2019/2020 and are proud to have maintained a leadership position and track record of consistent growth of 2.66% revenue despite economic contraction amidst a global pandemic. The increase is attributed to MTC's strategic response to the market’s evolving needs; cost containment; and improved customers’ experience, resulting in [...]
The MVA Fund reminds drivers to do a 60-second check on their vehicle tyres as part of journey preparedness during the upcoming Festive Season. This call was made at the tyre-safety activation held on Wednesday, 4 November 2020 at Kapps Farm Roadblock in Windhoek. The activation held with Namibian Police, Private Road Safety Forum [...]
PRESS RELEASE: 21 January 2021, Windhoek BANK OF NAMIBIA DONATES TOWARDS THE FIGHT AGAINST COVID-19 In solidarity with the Namibian nation fighting the second wave of the COVID-19 pandemic, the Bank of Namibia has donated medical equipment of about N$3 Million worth to the Ministry of Health and Social [...]
PRESS RELEASE: 18 December 2020, Windhoek DOMESTIC ECONOMIC ACTIVITY REMAINED WEAK DURING THE THIRD QUARTER OF 2020 International economic and financial developments: The GDP data showed a notable rebound for major economies in the third quarter of 2020 compared to the previous quarter. Following the lockdown-induced [...]
