Logo

Banks in Namibia are set to lower their lending rates


Commercial banks in Namibia are set to lower their lending rates by 25 basis points, bringing the prime lending rate down to 10.50%.
Bank of Namibia Governor Johannes !Gawaxab


The lending rate is the interest rate that commercial banks charge individuals and businesses when they borrow money. It determines the cost of borrowing and directly impacts loans such as mortgages, personal loans, and business financing.

This development follows the Bank of Namibia’s decision to reduce the repo rate from 7% to 6.5%.

Announcing the decision, Bank of Namibia Governor Johannes !Gawaxab highlighted that the adjustment was influenced by various economic factors. These include a decline in inflationary pressures, which is expected to remain moderate over the medium term, as well as the relatively high domestic real interest rates. Additionally, the central bank assessed that the country’s foreign reserves remain at a comfortable level, providing further justification for the rate cut.

Economic analysts suggest that the move is intended to stimulate economic activity by making borrowing more affordable for businesses and consumers. The reduction in lending rates is anticipated to encourage investment and spending, which could have a positive effect on economic growth.

Meanwhile, financial experts have advised borrowers to take advantage of the lower interest rates but remain cautious about long-term commitments, as global economic uncertainties could still influence future monetary policy decisions.

0Comments

Share This Post

Leave a Reply


Sport News

CELEB STORIES
Dani Alves Becomes Preacher After Acquittal
TUWOct 27, 2025
Dani Alves Becomes Preacher After Acquittal

Former Brazilian footballer Dani Alves has started a new life as an evangelical preacher in a church in Girona, Spain.…

Needed a Roof Over My Head, So I Got This for Me and My Family – Regina Daniels Acquires New Mansion Amid Marital Strain
TUWOct 26, 2025
Regina Daniels at her newly purchased house

Nigerian actress Regina Daniels has reportedly acquired a new mansion for herself and her family, shortly after parting ways with…

Namibian Gospel Singer, D-Naff Released on Bail After Fraud-Related Arrest
TUWOct 24, 2025
D-Naff

Prominent Namibian gospel artist and motivational speaker, Naftalie Amukwelele widely known as D-Naff, appeared in the Windhoek Magistrate’s Court on…

Regina Daniels Needs Rehabilitation, Says Husband Senator Ned Nwoko Who Accused the Actress of Using Too Much Drugs
TUWOct 19, 2025
Regina Daniels Needs Rehabilitation, Says Husband Senator Ned Nwoko Who Accused the Actress of Using Too Much Drugs

Nigerian senator Ned Nwoko has accused his wife, actress Regina Daniels, of substance abuse and violent behaviour, claiming she requires…


HEALTH TOPICS
Pupkewitz Foundation Repair 13 Ambulances Free of Charge
TUWOct 24, 2025
Pupkewitz Foundation Repair 13 Ambulances Free of Charge

Thirteen ambulances belonging to the Ministry of Health and Social Services have been fully restored to operational condition after receiving free mechanical repairs from the…

Rundu State Hospital the Main Beneficiaries of N$8.5 Million Medical Equipment Donation from IUM
TUWOct 22, 2025
Rundu State Hospital the Main Beneficiaries of N$8.5 Million Medical Equipment Donation from IUM

The Ministry of Health and Social Services has received medical equipment worth N$8.5 million from the International University of Management (IUM), with Rundu State Hospital…

Second Mpox Case Confirmed in Swakopmund
Ryan SiprianoOct 21, 2025
Second Mpox Case Confirmed in Swakopmund

Health Minister Dr Esperance Luvindao has announced the confirmation of a second Mpox case in Swakopmund, bringing Namibia’s total confirmed infections to two. In a…

44 Individuals in Walvis Bay and Swakopmund Identified Through Mpox Contact Tracing
TUWOct 21, 2025
Mpox Cases Rise to 44 Along Namibia’s Coast towns

The Ministry of Health and Social Services has clarified that the 44 mpox cases reported in Walvis Bay and Swakopmund are not confirmed infections. These…

Africa