By Johnny Truter In the past, bank robbers were brazen. They used weapons and physical intimidation to instil fear into staff, security guards and any customers who were in the branch. Their timing was considered. They would strike on the last day of the month, for instance, at a time of day when the branch...
Amid public criticism of exorbitant fees and charges leading to alleged excessive profits for commercial banks, the Bank of Namibia (BoN) maintains there is no inherent problem with banks generating profits. Central bank governor Johannes !Gawaxab, while addressing a parliamentary standing committee on the matter yesterday, said banks should be allowed to make profits like...
Deputy minister of works and transport Veikko Nekundi said the new proposed bills tabled in parliament on the issue of immovable properties used by people as primary homes should have no mercy on the banks. He was speaking in the National Assembly yesterday. “Banks have been treating people without mercy, they are heartless and are...
Bank Windhoek’s Digital, Data, and Customer Transformation (DDCT) department recently donated math essentials to the underprivileged children of the Groot Aub Primary School. The essentials were for the school’s mathematics tournament, which recently took place at the Groot Aub Primary School. The event saw 100 students compete in mathematics, while teachers, Bank Windhoek staff members,...
The ministry of Finance and Public Enterprises says experts from the World Bank and the African Development Bank are assisting Namibia in establishing reforms to its procurement system, using the global standard of methodology for assessing procurement systems (Maps). The Maps assesses aspects of the procurement system related to value for money, fairness, transparency and...
The Development Bank of Namibia (DBN) announced the successful full redemption of its DBN23 bond, which was the last of three fixed-rated bonds issued by the bank in 2018 and had an amortizing structure. DBN20A1, the first of the three, was issued in February 2018 raising N$140 million, DBN20B was issued in March 2018 raising...
Prime Minister (PM) Saara Kuugongelwa-Amadhila has emphasised the importance of continued coordinated efforts between governments and central banks to strengthen support to the economy, in turn accelerating growth and employment creation. Kuugongelwa-Amadhila made the remarks at the opening of the 57th meeting of the Southern African Development Community (SADC) Committee of Central Bank Governors (CCBG)...
The Bank of Namibia has officially kicked off the 57th meeting of the SADC Committee of Central Bank Governors (CCBG) at Swakopmund. The gathering will have a panel discussion on ‘Sustainability in the Financial System’. Speaking at the official opening, prime minister Saara Kuugongelwa-Amadhila said the CCBG structure has been pivotal in the implementation and...