Common Monetary Area (CMA)

Namfisa regulated entities experienced growth dips

Namfisa regulated entities experienced growth dips

Tujoromajo Kasuto THE Namibia Financial Institutions Supervisory Authority (Namfisa) regulated 599 entities with total assets worth N$368.6 billion during the first quarter of 2022, shows a 0.5% decrease from the asset value of N$370.6 billion recorded at the end of the fourth quarter of 2021. This is contained in the Namfisa Quarterly Statistical Report for the first quarter of 2022, released yesterday. The report provides industry statistics, the latest industry trends and developments and also information regarding Namfisa’s regulatory and supervisory activities during the quarter under review. According to the report, ‘’the non-banking financial institutions assets increased annually by 8…
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The Dollar-Rand Peg: Time to Decouple?

The Dollar-Rand Peg: Time to Decouple?

Carel Jordaan Namibia’s sophisticated and liquid foreign exchange market plays a crucial role in its economy. Notwithstanding the country’s size, we have a very liquid market. Banks, like FirstRand Namibia, have been playing a key role in establishing this market. Equally, banks are instrumental in developing, capacitating and growing its potential. Although the Namibian Dollar replaced the South African Rand in 1993, following Namibia’s independence from its neighbour, the rand remains widely used in Namibia. Moreover, the dollar has been pegged to the rand at one to one as Namibia is a member of the Common Monetary Area (CMA). The…
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