Bank of Namibia

The Banking System in Namibia

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The Banking Sector in Namibia comprises of eleven banking institutions, which can be categorised as follows: 5 commercial banks (including the newly authorised Bank BIC); a small medium enterprise bank; an E-bank, two micro-finance banking institutions, a branch of foreign banking institution and a Representative Office. These banking institutions are the primary mobilisers of funds from the public and the main sources of financing, which support business operations and economic activities in Namibia.

 

Authorised Banking Institutions

The Credit Information Sharing System in Namibia

The Credit Information Sharing System in Namibia is regulated by the Credit Bureau Regulations, 2014. The Regulations empowers credit bureaus to collect and sell credit performance information for individuals and businesses. Any person who intends to collect and sell credit performance information should be registered as a credit bureau in terms of the Regulations. The dissemination of credit performance information by credit bureaus make it easier for credit providers to determine the credit worthiness of customers and take appropriate credit decisions.

Registered Credit Bureaus

  • TransUnion Credit Bureau Namibia (Pty) Limited
  • Compuscan Credit Reference Bureau (Pty) Ltd

Today’s rates
Inflation rates
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NCPI

CONSUMER PRICES Total (All urban areas) 12-Term % change

NCPI 6.70 Apr 2017
Interest rates
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Repo rate

Repurchase rate: Rate at which the private (sector) banks borrow namibian dollars from the Bank of Namibia

Prime overdraft rate (predominant rate)

Benchmark rate at which private banks lend out to the public.

Repo 7.00
Prime 10.75
Exchange rates
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NAD per US Dollar

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per British Pound

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Euro

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Angolan Kwanza

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

N$ / $ 13.0752 24 May 2017
N$ / £ 16.9628 24 May 2017
N$ / € 14.6176 24 May 2017
N$ / AOA 0.0717 24 May 2017

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