By: Justicia Shipena

 

The Bank of Namibia (BoN) has declared a dividend of N$511.5 million to the government, which is about N$100 million from what it declared last year.

This was announced by BoN Governor Johannes !Gawaxab during the launch of the central bank’s 2023 Annual Report on Tuesday.

According to Gawaxab, the central bank’s financial performance in 2023 was shaped by a high-interest-rate environment, contributing to a significant expansion of its balance sheet to nearly N$62 billion by year-end.

BoN’s assets experienced an 18% increase from N$52.36 billion in 2022 to N$61.92 billion in 2023.

Additionally, the central bank’s total income rose from N$1.1 billion in 2022 to N$1.6 billion in 2023.continue reading