Ebson Uanguta

New technology forcing BoN to adapt – Uanguta

New technology forcing BoN to adapt – Uanguta

Martin Endjala Deputy Governor of the Bank of Namibia Ebson Uanguta said the emergence of new technology particularly in the space of online banking business modalities, has forced the central bank to adapt to the new technology by aligning its regulatory frameworks to speak to the needs of the new 4IR. The BoN deputy governor was speaking today at Start-Up Namibia and Fintech innovative hub session in Windhoek. Uanguta said that the innovative technologies are changing lives, by improving their living standards and alleviating poverty as well as addressing the economical inequalities within the global sphere. He further stated that…
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BoN cuts Repo rate to 4%

BoN cuts Repo rate to 4%

Staff Writer The Bank of Namibia (BoN) Monetary Policy Committee (MPC) has cut the Repo rate from 4.25 percent to 4 percent, a move which translates to a cumulative 2.50 percentage point reduction since the beginning of the year. “This decision was taken following a review of global, regional and domestic economic and financial developments. The MPC is of the view that at this level the rate is appropriate to continue supporting domestic economic activity while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African Rand,” Deputy Governor of the Bank of Namibia,…
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