BoN makes money in challenging times

BoN makes money in challenging times

BoN makes money in challenging times

Tujoromajo Kasuto The Bank of Namibia has delivered a strong net operating surplus and paid a dividend which is 42 percent higher compared to 2020 amounting to N$413.7 million. Despite the low interest rate environment that persisted in 2021, the Bank recorded a higher surplus in 2021 than in 2020 and declared a record high dividend. The Board of BoN in consultation with the Ministry of Finance has decided to use a part of the dividend as seed capital for the newly created Sovereign Wealth Fund. However, the bank experience a decline in net income mainly due to low interest…
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