The Ministry of Information and Communication Technology (MICT) has allocated N$19 million for the operationalisation of the Information Commission. This move comes in anticipation of implementing the Access to Information Act No. 8 of 2022 in the forthcoming 2024-2025 financial year. The Access to Information Act is poised to address critical issues surrounding government transparency...
The Bank of Namibia’s stock of international reserves declined marginally by 0,7% month-month to N$55,4 billion at the end of February. The fall was on the back of higher net commercial bank outflows coupled with government payments. The foreign reserves translated into 3,9 months of import cover, continuing to remain above the international benchmark of...
Niël Terblanché Judge Esie Schimming-Chase in the High Court of Namibia has postponed the decision regarding the dispute between FlyNamibia Aviation, the Transportation Commission of Namibia, and the Minister of Works and Transport. The judge postponed the matter for the delivery of her findings later today. FlyNamibia sought urgent judicial intervention to address the Transportation...
The Namibian Association of Medical Aid Funds (Namaf) says the rising cost of healthcare is weighing down some medical aid funds, forcing them to use their reserves to pay for members’ healthcare. Stephen Tjiuoro, Namaf’s chief executive, says for any medical aid fund to be regarded as sustainable it has to have a reserve of...
The preliminary stock of international reserves stood at N$49.7 billion as of 31st January 2024, slightly above the level of N$49.0 billion reported previously partly due to SACU receipts, the Bank of Namibia (BoN) has said following its Monetary Policy Committee (MPC) first bi-monthly meeting for 2024. To continue safeguarding the peg between the Namibia...
The stock of international reserves increased by 8.4% month to month to N$54.9 billion at the end of December, relative to N$50.6 billion in November, the Bank of Namibia revealed. The central bank said the increase was attributable to higher commercial bank inflows as a result diamond sales and customer foreign currency placements (CFC’s). The...
By Freeman Ya Ngulu. The Namibian economy is benefiting greatly from biomass utilisation. The production of charcoal in particular has increased significantly and resulted in much-needed direct and indirect job opportunities as well as foreign exchange earnings. This is according to a policy brief is based on a research paper by Klaus Schade, an independent...
The Bank of Namibia (BoN) says the country’s international reserves decreased to N$49 billion as of 30 November 2023. BoN Governor Johannes !Gawaxab stated that the reserves mark a decline from the N$51.4 billion recorded at the end of October 2023. “The reduction is primarily attributed to higher net commercial bank outflows. At this level,...
