The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to keep the repo rate unchanged at 6.5%.
The Governor of the Bank of Namibia, Johannes !Gawaxab, announced this during the final Monetary Policy Announcement of the year.
Bank of Namibia Governor Johannes !Gawaxab announced he will step down by the end of December 2025, having fulfilled his mandate and leaving the central bank in a stable and sustainable position for his successor.
United Africa Group launched United PayPoint, a fully licensed payment service provider, with the approval of the Bank of Namibia.
United Paypoint is a financial technology designed to bridge the gap between the banked and the unbanked.
The Bank of Namibia's Governor Johannes !Gawaxab's final day of service will be on the 31st of December 2025.
His departure from the Central Bank was announced by the Board today.
Namibia has repaid the country's second Eurobond, valued at US$750 million, marking the largest single debt maturity in Namibia's history.
The Bank of Namibia has reduced its main interest rate by 25 basis points, to 6.5%, after previously keeping its lending rate unchanged for three consecutive monetary policy meetings.
The Bank of Namibia has condemned recent acts of currency mutilation circulating on social media.
The central bank warns of serious legal action against any person tampering with the features of the country's banknotes and new coinage series.
Despite the ongoing rise of digital payment solutions, cash remains significant – both as a payment method and as a safety net in the event of digital disruptions.
The Governor of the Bank of Namibia, Johannes !Gawaxab, remarked this at the launch of new upgraded banknotes and coins in Mariental.
The Namibian economy is projected to grow by 3.5% in 2025, a slight slowdown from the 3.7% estimated for 2024.
President Netumbo Nandi-Ndaitwah has called on the Bank of Namibia and the Ministry of Finance to release regulations ensuring that fees and charges by commercial banks serve the public interest.
