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Bank of Namibia

Summary

Find out more about Launch of 2024 Annual Report.

Launch of 2024 Annual Report
31 March 2025 | Media Release
 

BANK OF NAMIBIA RELEASES 2024 ANNUAL REPORT

BANK OF NAMIBIA DECLARES DIVIDEND OF N$720 MILLION TO THE STATE REVENUE FUND ON ACCOUNT OF ITS OPERATIONS DURING 2024

Highlights of the Report

 

• The financial performance of the Bank for the 2024 financial year improved relative to the previous year.

• The Bank declares an all-time high dividend of N$720 million to the Government of the Republic of Namibia, for the 2024 financial year.

• The stock of international reserves stood higher at N$63.0 billion, at the end of 2024, translating to an import cover of 4.2 months.

• The Bank reduced the degree of monetary policy restraint during the second half of 2024, to support the domestic economic activity while safeguarding the currency peg between the Namibia Dollar and the South African Rand.

• Namibia’s economic growth slowed to 3.7 percent in 2024, compared to 4.4 percent in 2023.

• Namibia’s current account deficit as percentage of GDP remained elevated and unchanged at 15.3 percent of GDP during 2023 and 2024.

• Despite a challenging global economic environment, the financial sector’s performance remained resilient and sound during 2024.

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