Finance

Finance (607)

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The Namibian Financial Institutions Supervisory Authority (NAMFISA) says it has recovered N$2.2 million on behalf of consumers  from January 2023 to March 2023.

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The Bank of Namibia (BoN) has declared online business QZ Asset Management as a Ponzi scheme after an investigation into its business dealings.

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According to Jim Rohn, “the challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humour, but without folly.”

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 The Namibian Financial Institutions Supervisory Authority (NAMFISA) says it is set to introduce a Consumer Credit Bill.

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Economists and industry experts in the country say the Bank of Namibia (BoN) could have increased the repo rate by as much as 75 to 100 basis points, rather than the 50 basis points hike announced by the central bank on Wednesday.

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Authorities in Namibia should incentivise and reward environmentally friendly projects in order to achieve sustainable goals on decarbonisation, experts have said.

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The European Commission defines Sustainable Finance as the “process of taking Environmental, Social and Governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects”.

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People's budgets in Namibia have been squeezed by rising food costs, and the recent repo rate increase by the Bank of Namibia has only made things worse.

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The Bank of Namibia (BoN) says it is awaiting the amendment and implementation of the Banking Institutions Bill which is yet to be tabled in parliament to mitigate high rates and charges by commercial banks.

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The Bank of Namibia’s Monetary Policy Committee raised the repo rate by 50 basis points to 7.75% on Wednesday ahead of a 25 basis points increase forecasted by analysts.

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