Key points drawn from coverage. Tap a point to see the original sentence.
May 2026
The Namibian
Ebson Uangutasaidglobal growth is expected to remain subdued through 2026 and 2027
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“He said global growth is expected to remain subdued through 2026 and 2027, with developments in the Middle East continuing to pose risks through rising oil prices, shipping disruptions and supply chain pressures.”
BoN governor Ebson Uangutasaidglobal economy is facing major structural changes driven by geopolitical tensions, technology shifts, climate-related risks, supply-chain disruptions and uncertainty in financial markets
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“BoN governor Ebson Uanguta said the global economy is facing major structural changes driven by geopolitical tensions, technology shifts, climate-related risks, supply-chain disruptions and uncertainty in financial markets.”
UangutasaidBank of Namibia remains committed to maintaining monetary and financial stability while modernising its policy and supervisory systems
Source
“Uanguta said the Bank of Namibia remains committed to maintaining monetary and financial stability while modernising its policy and supervisory systems and strengthening institutional capacity.”
Bank of Namibia governor Ebson Uangutacompletedregional working visit to Kenya, Rwanda and Uganda
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“Bank of Namibia governor Ebson Uanguta last week completed a regional working visit to Kenya, Rwanda and Uganda as part of efforts to strengthen cooperation and learn from other African central banks.”
Ebson Uanguta, Governor of the Bank of NamibiaexplainedMPC noted weak domestic economic activity and higher inflation forecast for 2026
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“Ebson Uanguta, Governor of the Bank of Namibia, explained that in determining the appropriate monetary policy stance, the Monetary Policy Committee noted weak domestic economic activity and credit extension, amidst a higher inflation forecast for 2026.”
Current governor Ebson Uangutasaysthe agreement with Navachab represents an important step in advancing the bank's reserve diversification strategy
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“Current governor Ebson Uanguta says the agreement with Navachab represents an important step in advancing the bank's reserve diversification strategy.”
Governor Ebson Uangutasaidglobal growth remained steady at 3.3% in 2025 supported by investment in technology
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“"Global growth remained steady at 3.3% in 2025, the same as in 2024, supported by investment in technology, supportive policies and resilient private sector activity," he said.”
Governor Ebson Uangutasaidreal GDP growth dropped to 1.7% in 2025 from 3.8% in 2024
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“"The slowdown was mainly due to weaker performance in the primary industries. Agriculture declined due to restocking activities, while mining was affected by lower global demand for diamonds," Uanguta said.”
The Bank of Namibia plans to introduce digital money on mobile phones by next June to expand financial inclusion and improve instant payments, with initial use for government-to-person transactions followed by person-to-person transfers. The central bank governor said the digital system will help formalise the informal economy by creating transaction histories that businesses can use to obtain loans from banks.
The Bank of Namibia plans to introduce digital money on mobile phones by next June to expand financial inclusion and improve instant payments, with initial use for government-to-person transactions followed by person-to-person transfers. The central bank governor said the digital system will help formalise the informal economy by creating transaction histories that businesses can use to obtain loans from banks.
The proposed Venus oil discovery could require US$17 billion in investment—exceeding Namibia's estimated annual economy—with planned production of 150,000 barrels of oil equivalent a day. The article argues that entrepreneurs should focus on the supporting ecosystem of services and industries that the major project would create, rather than the headline transaction itself.
Minister Modestus Amutse officially inaugurated the National Steering Committee on the Informal Economy in Windhoek on Friday, a 35-member body chaired by Diina Nashidengo. According to the minister, 58% of the workforce is employed in the informal sector, with 59% in rural areas.
Namibia and Botswana have discussed how natural resource wealth can be transformed into sustainable and inclusive prosperity, with both countries stressing the importance of economic diversification, strong institutions, and saving for future generations. Bank of Namibia governor Ebson Uanguta highlighted that resource wealth alone cannot guarantee broad-based prosperity, and called for greater local value addition, technology transfer, and stronger domestic supply chains as the country explores opportunities in oil and gas, renewable energy, and green hydrogen.
The Welwitschia Fund, established in 2022 to convert Namibia's resource wealth into longer-term financial wealth, has recorded a market value of US$30.85 million (N$508.47 million) as of 31 July, with an annualised return of 15.5% since inception. The fund is designed to strengthen Namibia's resilience to economic shocks and promote intergenerational equity, with a companion Sovereign Wealth Fund of Namibia Bill expected to be tabled in Parliament in 2026.
The Bank of Namibia and UNAM convened a public lecture featuring the governors of Namibia and Botswana to discuss translating natural resource endowments into sustainable prosperity through economic diversification, sovereign wealth management, and local value addition in sectors including oil, gas, and green hydrogen.
At a Bank of Namibia public lecture, the governors of Namibia and Botswana stressed that natural resource wealth alone cannot guarantee broad-based prosperity, emphasizing the need for economic diversification, strong institutions, local value addition, technology transfer, and saving for future generations.
Capital outflows from Namibia to South Africa fell to about N$10 billion year-to-date, down from N$18 billion in the corresponding period last year, Bank of Namibia governor Ebson Uanguta said. The central bank is monitoring the interest rate differential with South Africa, warning that a widening gap could increase capital outflows and pressure the country's foreign reserves and currency peg.
The Monetary Policy Committee kept the repo rate unchanged at 6.75% and the prime lending rate at 10.25%, citing a need to support international reserves and maintain the Namibia Dollar–South African Rand peg while balancing subdued economic activity and relatively benign inflation.
The Bank of Namibia's Monetary Policy Committee has decided to leave the repo rate unchanged at 6.75%, where it has been since a 25 basis point increase in June 2026. The central bank cited efforts to maintain price and financial stability amid domestic and external economic conditions.
The Bank of Namibia formally handed over a 1996 commemorative silver coin to Olympic sprinter Frank Fredericks on 31 July, honouring his four Olympic silver medals and 30 years of achievements. The non-circulating N$10 coin, minted in his honour in 1996, features a cheetah symbolising speed and resilience alongside Namibia's coat of arms.
The Governor of the Bank of Namibia has called on the country's financial sector to strengthen its technical expertise, governance, and risk management capabilities to participate in Namibia's emerging oil and gas industry. He noted that opportunities extend beyond oil production into transport, logistics, engineering, and professional services, and that non-bank financial institutions like pension funds and insurers could also play a significant financing role.
The Governor of the Bank of Namibia emphasized that success in the emerging oil and gas industry requires coordination among ministries, regulators, public institutions, financial institutions, energy companies, investors, and educational institutions. He noted that collaboration among regulators is particularly important because risks can spread across institutions and sectors, and that financial institutions must fully understand the sector to participate meaningfully.
The National Planning Commission said government will only factor oil income into fiscal planning once oil and gas projects reach a final investment decision, and that borrowing decisions are based on broader economic projections rather than a single sector. The clarification followed criticism from the Independent Patriots for Change, which had accused the NPC director general of proposing that Namibia borrow against future oil revenues despite sector uncertainty.
The Payments Association of Namibia has celebrated two decades of transforming the country's payment landscape, highlighted by the successful completion of the National Payment System Strategy 2021–2025, which achieved an 87% implementation rate and transitioned Namibia from manual, paper-based payments to a digital financial ecosystem.
The Bank of Namibia's Macroprudential Oversight Committee concluded that Namibia's financial system remains sound and stable following an assessment of systemic risks and vulnerabilities. Real GDP grew by 2.0% in the first quarter of 2026, rebounding from 0.1% in the final quarter of 2025, with growth projected to reach 2.6% in 2026, though the outlook faces downside risks from geopolitical tensions, weaker global demand, and water supply constraints.
The Bank of Namibia, Instant Payments Namibia (IPN), and NamClear signed a Declaration of Intent to strengthen collaboration and align their operations, aiming to enhance efficiency, resilience and interoperability of the national payments ecosystem by connecting instant payment capability with existing clearing infrastructure.
Namibia has been removed from the Financial Action Task Force grey list as of 19 June 2026, following the amendment of nine laws and enactment of four new pieces of legislation aimed at strengthening anti-money laundering and counter-terrorism financing measures. The government hailed the removal as a turning point for investor confidence and integration into the global financial system.
Namibia has been removed from the Financial Action Task Force grey list of jurisdictions under increased monitoring, effective 19 June 2026. Finance minister Ericah Shafudah said the exit reflects political commitment and institutional coordination on anti-money laundering and counter-terrorism financing reforms, while cautioning against complacency.
The Bank of Namibia's governor reports that the Monetary Policy Committee increased the repo rate by 25 basis points in response to rising inflationary pressures driven by oil infrastructure damage and shipping disruptions from Middle Eastern conflict. As a small open economy, Namibia remains vulnerable to external shocks transmitted through global markets.
The Bank of Namibia increased the repo rate by 25 basis points to 6.75%, pushing the prime lending rate to 10.25%, which means commercial banks will charge more for home loans, vehicle finance, and other credit. Governor Ebson Uanguta said the decision was necessary to mitigate inflationary risks and safeguard the one-to-one link between the Namibian dollar and the South African rand.
The Bank of Namibia increased the repo rate by 25 basis points to 6.75%, bringing the Prime lending rate to 10.25%, citing rising global and domestic inflationary pressures and shifting monetary policy stances among major central banks.
The Bank of Namibia increased the repo rate by 25 basis points to 6.75%, effective immediately, with the prime lending rate also rising to 10.25%. Governor Ebson Uanguta said the Monetary Policy Committee tightened policy to counter rising inflation and maintain the NAD/ZAR currency peg, with headline inflation climbing to 4.1% in May 2026.
An editorial criticizes Prime Minister Elijah Ngurare's approach to Namibia's housing crisis, arguing that appealing to commercial banks to lower mortgage rates ignores the systemic failures that have produced a backlog of over 300,000 units and left the ultra low-income majority unable to qualify for traditional mortgages.
Bank of Namibia governor Ebson Uanguta warned that Namibia's public debt could rise to 70% of GDP by the end of the current financial year without spending reforms, noting that debt has already exceeded the 60% benchmark and currently stands at 65.2% of GDP. The central bank says the government can no longer rely on borrowing to fund expenditure and cautioned against borrowing against future oil revenues.
Prime minister Elijah Ngurare has questioned Namibia's housing finance model, arguing that lengthy repayment periods of up to 20 years make homeownership unaffordable for young people, and has urged the Bank of Namibia to engage commercial banks to review and reform existing housing finance models. Finance minister Ericah Shafudah welcomed the directive and called for the central bank, her ministry, and the office of the prime minister to work with commercial banks to implement the proposal.
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.
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.
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.
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.