Nambia |

IFC Issues First Namibian Bond to Support Local Capital Market

Windhoek, Namibia, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, has launched the first bond by a non-resident issuer in the Namibian capital markets, raising 180 million Namibia dollars—equivalent to $12 million—for private sector development in the country. The five year bond is named “Namib” after the world’s oldest desert. Namib means “vast space” in the Nama language and gave rise to the name of the country….

Bank of Namibia hikes Repo to 6.75 percent, amid inflation pressure and currency depreciation

Posted on by The Editorial Team

Windhoek, Namibia, Capital Markets in Africa — Bank of Namibia raised the Repurchase (Repo) rate by 25 basis points to 6.75 percent at the Bank of Namibia’s Monetary Policy Committee (MPC) meeting held on the Tuesday 16 February 2016, Bank of Namibia Governor Ipumbu Shiimi said in a press release. The Governor said the rate hike is to align interest rates within the Common Monetary Area which includes South Africa. This is intended to avoid possible capital…

Bank of Namibia maintains Repurchase Rate at 6.50 percent, amid of strong foreign reserves

Posted on by The Editorial Team

Windhoek, Namibia, Capital Markets in Africa — Bank of Namibia keeps the Repurchase (Repo) rate unchanged at 6.50 percent at the Monetary Policy Committee meeting held on the 20th October 2015 , according to Monetary Policy Committee (MPC) statement issued by Deputy Governor of the Bank, Mr. Ebson Uanguta. In the statement, the decision to keep the rate at 6.50 percent was underpinned by the recent improvement in the key economic indicators despite weak activities…

Namibia economy to grow 5.7 pct in 2015, driven by exports

Posted on by The Editorial Team

WINDHOEK (Reuters) – Namibia’s economy is expected to grow by 5.7 percent in 2015, driven by exports in the continent and abroad as well as a jump in domestic economic activity, Finance Minister Calle Schlettwein said in a budget speech on Tuesday. Schlettwein said government revenues increased by 28.6 percent to Namibian $53.91 billion ($4 billion) in 2014/2015, compared with the previous year, and projected the budget deficit would be 5.3 percent of gross domestic…