On Monday, April 22, 2024, the Bank of Namibia hosted a landmark workshop on the intricate process of residential property acquisition in Namibia. Bringing together key stakeholders from various sectors, the workshop aimed to address the multifaceted challenges hindering property acquisition across the nation.

The workshop saw participation from esteemed representatives including the Office of the Prime Minister, the Ministry of Agriculture, Water and Land Reform, the Namibia Revenue Agency, the City of Windhoek, various banking institutions, the Economics Association of Namibia, the Development Bank of Namibia, and the Ministry of Finance & Public Enterprises.

Recognising the pressing need for decisive action, the Bank of Namibia, acting in its capacity as both an economic advisor and a banking regulator, emphasised the imperative of addressing systemic inefficiencies within the property acquisition process. A comprehensive study conducted by the Bank underscored the urgency for structural reforms and the allocation of resources to drive meaningful change.