Also known as: BoN · The Bank of Namibia
Namibia's central bank, responsible for monetary policy, foreign exchange reserves, and banking regulation including fee oversight.
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Namibian Sun
The Bank of Namibia plans to acquire 600 kilograms of gold from local mines by end of last quarter of 2026
“The Bank of Namibia (BON) plans to acquire 600 kilograms of gold from local mines by the end of the last quarter of 2026 as part of a strategy to strengthen the country's foreign e...”
BON to buy 600 kg of gold from local minesThe Namibian
Bank of Namibia says reducing high banking fees will take time reducing high banking fees will take time
“The Bank of Namibia says reducing high banking fees will take time, as new regulations are implemented amid growing public concern over charges and bank profits.”
Banking fees to ease gradually, says Bank of NamibiaWindhoek Observer
The Bank of Namibia kept the repo rate unchanged at 6.50% in April
“The Bank of Namibia kept the repo rate unchanged at 6.50% in April, maintaining a cautious stance amid global uncertainty and rising imported inflation risks.”
Short-term borrowing surges as inflation erodes household spending powerWindhoek Observer
Bank of Namibia maintained the repo rate at 6.50%
“With the Bank of Namibia maintaining the repo rate at 6.50%, the real repo rate has fallen from 4.4% to 3.4%, while the real lending rate has eased from 7.5% to 6.5%.”
Inflation surge reshapes monetary outlookInformanté
Bank of Namibia revised its forecast down to 2.6% growth, citing elevated fuel costs and softer demand
“The Bank of Namibia has revised its own forecast down to 2.6%, citing the drag from elevated fuel costs and softer global demand.”
Monthly Economic Update – May 2026Informanté
Bank of Namibia held its repo rate at 6.50% at April MPC meeting
“The Bank of Namibia held its repo rate at 6.50% at the April MPC meeting, and with inflation heading higher, is expected to hold through the remainder of the year.”
Monthly Economic Update – May 2026Windhoek Observer
Bank of Namibia increased international reserves by 13.6% in April to N$58.8 billion
“The Bank of Namibia's (BoN) stock of international reserves increased by 13.6% in April to N$58.8 billion, supported by inflows from the Southern African Customs Union (SACU) and Customer Foreign Currency (CFC) placements.”
SACU inflows push reserves to N$58.8bnWindhoek Observer
Bank of Namibia said this reserve level remains sufficient to support the peg and meet short-term international obligations
“The Bank of Namibia said this level remains sufficient to support the peg between the Namibian dollar and the South African rand while meeting the country's short-term international obligations.”
SACU inflows push reserves to N$58.8bnThe Namibian
Bank of Namibia announced repo rate will remain unchanged at 6.50% until mid-June
“The repo rate will remain unchanged at 6.50% until mid-June, the Bank of Namibia (BoN) has announced.”
Repo rate unchangedThe Namibian
Bank of Namibia reported non-performing mortgage loans were standing at around N$3 billion as at end of May
“This is according to the Bank of Namibia annual report.”
70% of Namibians too poor to buy a houseThe Bank of Namibia plans to acquire 600 kilograms of gold from local mines by the end of the fourth quarter of 2026 as part of a strategy to strengthen the country's foreign exchange reserves.
Bank of Namibia's 600 kg gold acquisition from local mines strengthens foreign exchange reserves and supports domestic mining sector.
4 June 2026 · Namibian Sun →
The Bank of Namibia plans to acquire 600 kilograms of gold from local mines by the end of the fourth quarter of 2026 as part of a strategy to strengthen the country's foreign exchange reserves.
4 June 2026 · Namibian Sun →
The central bank governor told parliament that reducing high banking fees will take time as new regulations are implemented, though he expects significant progress within three years. Banks earned N$5.0 billion from fee income last year, representing 31.3% of their total income.
3 June 2026 · The Namibian →
Namibia's headline inflation rose to 3.1% year-on-year in April from 2.1% in March, driven by higher transport costs following fuel price increases linked to Middle East tensions. FNB Namibia warns inflationary pressures are likely to persist, with further strain dependent on geopolitical developments that could push transport and food prices higher.
3 June 2026 · Windhoek Observer →
Headline inflation jumped to 3.1% in April from 2.1% in March, primarily driven by transport costs reflecting currency depreciation and higher global fuel prices. With the repo rate held at 6.50%, real interest rates have fallen, supporting credit demand but eroding household purchasing power.
3 June 2026 · Windhoek Observer →
Namibia closed 2025 with GDP growth of 1.7%, below government and IMF forecasts, weighed down by depressed diamond revenues and livestock sector recovery from drought; uranium and gold mining, wholesale trade, transport, and services supported growth. The Bank of Namibia has revised its 2026 forecast down to 2.6%, citing elevated fuel costs and softer global demand, while inflation rebounded to 3.1% in April after reaching a cycle low of 2.1% in March, driven by rising transport, utility, and food prices.
2 June 2026 · Informanté →
The Bank of Namibia's international reserves increased 13.6% in April to N$58.8 billion, supported by SACU inflows and foreign currency placements, providing an estimated import cover of 3.7 months. Private sector credit extension also accelerated, with loans to the domestic private sector reaching N$124.1 billion and growing at 4.8% annually.
1 June 2026 · Windhoek Observer →
The Bank of Namibia announced its repo rate will remain at 6.50% until mid-June, keeping commercial bank prime lending rates at 10%. The central bank cited weak domestic economic activity, higher inflation forecasts for 2026, and the need to maintain the Namibia dollar's peg to the South African rand in its decision.
30 May 2026 · The Namibian →
Less than 10% of the working population hold home loans; 70% of the population cannot afford formal housing due to low incomes and limited mortgage access, according to central bank data. Average house prices have risen from N$200,000 in 2000 to between N$1.3 million and N$1.4 million today, while the average working Namibian earns N$5,000 or less per month.
28 May 2026 · The Namibian →
A housing research seminar at the Bank of Namibia found that 70% of Namibians are priced out of formal housing. According to the article, this is not a market failure but a structural outcome of colonial land policies, bank financialisation, low wages, and treating housing as a commodity rather than a social right.
27 May 2026 · The Namibian →
Dr Tobie Ocean Aupindi, Chairperson of the Parliamentary Standing Committee on Natural Resources, has advocated for greater Namibian representation in management structures and increased participation by local entrepreneurs and professionals in the mining, oil, gas and energy industries. He also proposed that Namibia receive dividends in physical commodities such as gold, uranium, or lithium to build strategic national reserves.
26 May 2026 · Informanté →
About 70% of Namibians can no longer afford formal housing as property prices have soared while incomes stagnate and mortgage access remains limited. Namibia's housing backlog has grown from around 80,000 households in 2007 to approximately 300,000 housing units by 2025, particularly affecting low and middle-income earners.
22 May 2026 · The Namibian →
Bank of Namibia governor Ebson Uanguta said Namibia's economy faces headwinds from weaker diamond prices, drought and constrained fiscal space, though it is projected to gradually strengthen over the medium term supported by increased uranium production, tourism recovery, and mining and energy investment. He noted that Namibia's strategic importance presents opportunities in oil and gas, renewable energy, and mining, but cautioned that global growth is expected to remain subdued through 2026 and 2027 amid geopolitical tensions and technological shifts.
21 May 2026 · The Namibian →
Fitch Ratings forecasts Namibia's government debt will rise to 66% of GDP in 2026, with interest payments consuming 18% of government revenue, while affirming the country's BB- sovereign rating with a stable outlook despite high fiscal deficits and weak economic growth.
21 May 2026 · Windhoek Observer →
Namibia maintains second place in Southern Africa's startup ecosystem rankings after South Africa, ranking 94th globally and 10th in Africa according to the 2026 StartupBlink Global Startup Ecosystem Index, though it dropped nine places globally from 2025 despite recording 8.2% ecosystem growth.
21 May 2026 · Windhoek Observer →
The Bank of Namibia hosted diplomats, development agencies and international stakeholders to discuss global economic developments and Namibia's economic outlook. BoN governor Ebson Uanguta said the global economy faces structural changes from geopolitical tensions, technology shifts, climate risks and supply-chain disruptions, and that central banks must strengthen areas beyond traditional mandates including digital finance and cyber resilience.
21 May 2026 · Windhoek Observer →
The finance ministry's executive director clarified that the government does not accept unsolicited funding bids from private entities or agents for infrastructure projects. Instead, all government funding and development projects must follow established procedures under the National Planning Commission Act and State Finance Act.
20 May 2026 · The Namibian →
The Ministry of Finance says infrastructure funding must comply with existing procurement and borrowing laws and cannot be sourced through unsolicited proposals from private entities or their agents, despite acknowledging that such proposals could support national infrastructure development.
20 May 2026 · Windhoek Observer →
Bank of Namibia governor Ebson Uanguta visited Kenya, Rwanda and Uganda to strengthen cooperation and learn from other African central banks, focusing on financial systems, digital transformation, banking supervision, oil sector management and economic policy. The Bank of Namibia signed a Memorandum of Understanding with Rwanda's central bank on economic research, financial inclusion, digital transformation, sustainable finance, innovation and staff training.
20 May 2026 · Windhoek Observer →
Namibia's vehicle market slowed in April with total sales falling to 1,320 units from 1,662 units in March, though April sales remained 5.7% higher than April 2025. Analysts at Simonis Storm Securities attributed the decline to a natural unwinding of March's record-breaking performance, which was driven by fleet deliveries and rental sector demand, while noting the year-to-date performance remains strong at 10.6% growth.
19 May 2026 · Windhoek Observer →
Cabinet has officially approved the establishment of the Green Industries Council to guide development of the green industries sector, with a focus on industrialisation, economic diversification and job creation. The Council will be chaired by the Director-General of the National Planning Commission and include ministers from finance, industries, agriculture, environment, trade, urban development, the Attorney-General, and the Bank of Namibia Governor.
17 May 2026 · Informanté →
The Namibia Financial Institutions Supervisory Authority (Namfisa) has announced appointments of Diana Katjiuongua as head of strategy and projects (effective 1 April), Matheus Iiyambula as FinTech specialist (effective 1 March), and one other senior official to strengthen its strategy, technology and financial innovation functions.
12 May 2026 · Windhoek Observer →
Private sector credit rose marginally in March 2024 by N$158.4 million or 0.1% month-on-month and 4.3% year-on-year, with individuals borrowing N$2.85 billion and corporate entities N$2.18 billion over the past 12 months. The growth was driven by robust mortgage lending and a rebound in overdraft facilities, though corporate borrowing growth slowed to its weakest expansion since November 2024.
9 May 2026 · The Namibian →
Standard Bank Namibia has appointed Deloitte & Touche Namibia as its independent external auditor, replacing PricewaterhouseCoopers Namibia with effect from 29 April 2026, in compliance with Bank of Namibia's BID-10 regulation requiring external auditor rotation every 10 years.
8 May 2026 · Windhoek Observer →
FNB Namibia expects the central bank to keep the repo rate mostly unchanged in 2026 as inflation risks, weak economic growth, and exchange rate volatility pressure the economy, with the need to protect the currency peg and maintain import cover limiting scope for interest rate cuts despite mining inflows.
8 May 2026 · Windhoek Observer →
Namibia's private sector credit growth eased to 4.3% in March 2026 from 4.7% in February, with total credit at N$123.3 billion. Household borrowing gained momentum to 4.1% year-on-year—its highest in the current cycle—driven by stronger mortgage lending, instalment credit, and overdrafts, while corporate lending showed seasonal fluctuations.
7 May 2026 · Informanté →
The Bank of Namibia held its repo rate unchanged at 6.50% on 29 April, citing weak economic activity, slow private sector credit growth, inflation risks and rand strengthening. An FNB economist said easing credit conditions will likely be tempered by elevated borrowing costs, keeping private sector credit growth subdued.
7 May 2026 · Windhoek Observer →
The Bank of Namibia's March 2026 financial statement shows the government's cash position at the central bank reached -N$3.2 billion, the largest deficit in recorded history. The deficit reflects a combination of year-end spending pressures, Eurobond redemption, local bond redemptions, and lower-than-expected domestic revenue growth during the 2025/26 financial year.
6 May 2026 · The Namibian →
An opinion piece argues that Namibia's banks function as capitalist institutions designed to allocate credit upward to the middle class and elites while excluding young people, informal workers, and the poor through credit criteria that reproduce social inequality.
6 May 2026 · The Namibian →
Household debt in Namibia stood at 30.7% of GDP in 2024, the second-lowest in the Common Monetary Area after Lesotho's 17.2%, according to the Bank of Namibia's financial stability report. Despite N$130 billion owed overall, the central bank notes the low ratio suggests contained indebtedness, though continued monitoring is important given subdued income growth.
6 May 2026 · The Namibian →
Pension and retirement funds must now pay interest to members if benefits are not transferred within 60 days of request, under regulations from the Financial Institutions and Markets Act 2021 that came into effect on 1 May. Employers must also pay retirement contributions on time or face interest charges, with both employers and their directors liable for unpaid contributions.
6 May 2026 · Windhoek Observer →