Kazembire Zemburuka reflects on 2024 for the Bank of Namibia, and shares projections for 2025
December 20, 2024
According to the recently released quarterly GDP data, the domestic economy continued to grow during the third quarter of 2024, albeit at a slower pace compared to the same period in 2023. This slowdown was primarily attributed to declines in the mining and agriculture sectors within the primary industry.
To continue supporting the domestic economy while safeguarding the peg between the Namibia Dollar and the South African Rand, the MPC unanimously decided to reduce the policy rate by 25 basis points to 7.00 percent. This decision was reached following a comprehensive review of current and expected domestic, regional and global economic developments. Economists viewed this and the decisions made by the MPC this year as progressive.
Director of Strategic Communications and International Relations at the Bank of Namibia, Kazembire Zemburuka, gave his insights on the financial sector, and the projections beyond 2024.
