The Bank of Namibia (BoN) has traded 32 billion Kwanzas, an equivalent of US$390 million since inception of its currency conversion agreement with Banco Nacional de Angola (BAN) in June.
Moody's Investors Service ("Moody's") has assigned a Ba1 insurance financial strength (IFS) rating to Namibia National Reinsurance Corporation Limited (NamibRe), with a stable outlook.
Banco Sol, an Angolan bank which recently announced its plans to start banking operations locally in the first quarter of 2016, does not have a license to start operations in Namibia, it has emerged.
Weatherly International (Weatherly) has been forced to defer its loan repayments due to Orion Mine Finance at the end of the month, citing weakened global copper prices.
The newly elected Chairman of the Khomas Second Division League David Morgan plans to build an office for the regional league.