The Bank of Namibia has been inundated with inquiries from people who claim to have lost money following the arrest two weeks ago of flashy businessman-turned politician Michael Amushelelo, the Windhoek Observer has been briefed. 

BoN urges banks to list

Bank of Namibia, Governor Iipumbu Shiimi, has advised foreign owned commercial banks to float shares on the Namibian Stock Exchange (NSX) in order to meet local empowerment requirements.

BoN maintains ban on cryptocurrencies

Cryptocurrencies remain banned in the country, the Bank of Namibia maintained recently in its latest position paper on virtual currencies.

KPMG official duped BoN over SME Bank money

The Bank of Namibia (BoN) hired troubled South African accounting firm, KPMG, to help trace funds allegedly invested in South Africa by the now defunct SME Bank, the Mail and Guardian reported this week.

BoN bets on Yuan to boost reserves

The inclusion of the Chinese currency, Yuan, to the Bank of Namibia’s (BoN) mix of international reserves is offering the bank a competitive risk-adjusted return linked to the currency’s higher yields and low correlation to other currencies,

BoN urges business to borrow

Central bank governor, Iipumbu Shiimi has urged the business community to take advantage of the current low interest rate environment to borrow money and invest.
The Bank of Namibia has made significant progress towards the implementation of Basel III Capital Adequacy Standards in Namibia.
Last week’s decision by Moody’s to downgrade Namibia’s international credit rating position to sub-investment grade or junk status will have no repayment impact on the Eurobond listed on the Johannesburg Securities Exchange or the N$3 billion loan from the African Development Bank,

Angola to repatriate N$2bn to Namibia

The Bank of Namibia (BoN) says it expects the Angolan central bank to pay back in excess of N$2 billion by the end of 2017, following the cancellation of a currency conversion agreement between the neighbouring countries at the end of 2015. BoN Governor Iipumbu Shiimi said on Wednesday that almost US$300 million was still owed by the Angolan apex bank after last week’s payment of at least US$55 million.


The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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