Central bank declares N$720 million in dividends

The Bank of Namibia (BoN) will be giving N$720 million to treasury in declared dividends.

Central bank governor Johannes !Gawaxab says this is the highest dividend since the BoN’s inception.

“We have declared a record historic dividend to the government of the
Republic of Namibia of N$720 million, compared to N$511 million last year,” !Gawaxab says.

Additionally, the bank’s investments grew by N$10 billion compared to last year.

This is due to higher revenue from diamond sales, the Southern African Customs Union, and the global rise in interest rates.

“This great performance comes from a good global economy and careful management of our resources,” the governor says.

The bank also made an operating surplus of N$1 billion – the same as last year.

!Gawaxab says the weaker rand at the end of the year also helped the bank, with the BoN making N$226 million in unrealised foreign exchange gains.