Chamwe Kaira
Currency in circulation in Namibia rose to N$5.94 billion in 2025, up from N$5.61 billion in 2024, according to the Bank of Namibia (BoN).
The increase was driven mainly by banknotes, which make up more than 95% of total currency.
Banknotes rose by N$304.7 million to N$5.63 billion. Coins increased to N$316.9 million.
In volume terms, banknotes in circulation increased by 5.67 million pieces, while coins rose by 32.2 million units.
Demand for smaller notes increased during the year. The N$50 note rose by 45.9%, while the N$10 note increased by 14.7%. The newly introduced N$60 note added N$58 million to circulation.
Higher denominations recorded smaller increases. The N$100 note grew by 1% and the N$200 note by 2.6%. The N$30 note declined slightly.
Coin circulation also increased. The total value rose from N$288.7 million in 2024 to N$316.9 million in 2025. The N$10 coin saw the largest increase, rising by 65.5% to N$29.29 million.
The N$5 and N$1 coins also grew, while lower denominations remained stable. A new N$0.20 coin added a small value to circulation.
Cash remains widely used despite growth in digital payments. The central bank said demand is driven by rural and informal sector activity, seasonal spending and social grant payments.
The bank issued N$3 billion in new banknotes during the year and removed N$3.3 billion in worn notes from circulation.
Counterfeit cases remained low. A total of 79 counterfeit notes were recorded in 2025, slightly higher than 75 in 2024. This equals 0.83 parts per million, below the bank’s limit of 10.
Most counterfeit cases involved N$50, N$100 and N$200 notes.
The central bank said the figures show stable currency management, steady demand for cash and effective controls against counterfeit notes.
