MIT to table a national policy to address SME credit access Source link
October 30, 2024
Tag: Credit
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Consumer Credit Bill Poses a Threat to Microlenders – Opinion
The proposed consumer credit bill in Namibia aims to bring about comprehensive changes to the regulatory landscape governing credit provision and agreements. Its objectives include the consolidation, harmonisation and reform of existing laws, establishing consumer credit regulators, and the regulation of entities such as credit providers, credit bureaus and debt collectors. In addition, the bill...
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NTSA Partners With Watu Credit Kenya To Train Bodaboda Riders
The National Transport and Safety Authority (NTSA) in partnership with Watu Credit Kenya has embarked on a campaign dubbed ‘Tujenge Msingi’ aimed at having a positive narrative in road safety issues in the boda boda sector through enhanced safety trainings. NTSA Director in-charge of Road Safety Programmes Samuel Musumba said that the training seeks to...
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Fitch ratings confirm stable outlook for Development Bank credit
By Josef Kefas Sheehama. Fitch Ratings has affirmed the Development Bank of Namibia’s Long-Term Issuer Default Ratings (IDR) at ‘BB-‘ and its National Long-Term Rating at ‘AA+. These credit ratings cover the widest range of credit risk factors and have no limitations. The Development Bank (DBN) is the country’s flagship and largest policy bank, contributing...
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Fitch Ratings affirms Development Bank of Namibia credit rating – Business
Fitch Ratings on Saturday affirmed the Development Bank of Namibia’s (DBN) Long-Term Issuer Default Rating (IDR) credit rating at BB- with stable outlook. However, the rating agency kept DBN’s National Long-Term Rating at AA+, noted the statement from Fitch. “DBN’s BB- Long-Term IDRs are driven by potential support from the Namibian authorities, as expressed by...
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Credit Where It’s Due, Just Not for the Crumbs
To his credit, finance minister Iipimbu Shiimi brought cheer to many Namibians through his budget speech this week. Tax exemption for low-income earners below N$100 000 comes into force after it was announced last year. So too does the burden of transfer costs being eased for house buyers acquiring property at N$1,1 million or less. Lifting...
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Corporate credit surges to N$46.5bn in January
Namibia’s corporate credit surged to N$46.5 billion in January 2024, marking a 2.1% increase compared to the previous year, surpassing December 2023’s 0.4% expansion, signaling changing trends in corporate lending, latest data shows. According to the Bank of Namibia, the credit growth in the corporate sector was primarily driven by increased demand from manufacturing, energy, and...
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Credit extended to corporate reaches N$46 billion in January – Business Express
In January 2024, credit extended to corporates reached N$46,4 billion, an increase of 2.1% y/y as compared to 0.4% y/y growth reported in December 2023. According to the Bank of Namibia, the credit growth in corporate sector was primarily driven by increased demand from manufacturing, energy, and agriculture sectors. Conversely, households experienced a slowdown in...
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Fortifying Cyber Awareness: Konongo St. Gabriel’s Co-Operate Credit Union Welcomes Groundbreaking Cybersecurity Partnership With OMNICOMMANDER
KONONGO, GHANA / ACCESSWIRE / February 29, 2024 / Konongo St. Gabriel’s Co-Operate Credit Union takes a bold step forward in safeguarding its digital infrastructure by partnering with OMNICOMMANDER® to bring industry-specific cybersecurity education to the entire staff and board of directors at the credit union. “We are thrilled to announce this transformative partnership with...
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Household debt grows as corporate credit declines
Recent data released by Simonis Storm Securities has shown concerning trends in Namibia’s financial landscape, with household debt skyrocketing, while corporate credit uptake experiences a significant decline. According to this report, household debt grew to N$66,8 billion in 2023 – an increase from N$64,7 billion recorded in December 2022. “The credit uptake throughout 2023 was...