Common Monetary Area

10 Oct

Only a developmental state can bring happiness to Namibia

Sem B.David Imbodi In my recent studies, I thoroughly uncovered that the economy of Namibia is under threats of inflation and downfall due to a lot of public debt, inland revenue circulation, and our dependency on other states. It is really disappointing that our headlines in newspapers and reports speak the opposite of the based reality. If you keep taping or fetching water from the neighbor's house, you will always do that on good terms. The day good terms are withdrawn, thirst and hunger will strike your house. We are so dependent, even on little things, and have no means…

Deadline for cross-border payment rules looms

ObserverNational NewsCommon Monetary Area

Martin Endjala Namibian commercial banks have issued various deadline notices as changes to cross-border payments within the Common Monetary Area (CMA) are set to take effect on 30 September. These changes will impact low-value electronic funds transfers (EFTs), debit orders, and credit payments between the CMA countries, namely Eswatini, Lesotho, Namibia, and South Africa. Previously, these transactions were treated as domestic payments, allowing the participating banks in the four CMA countries to process them via South Africa's domestic retail payment system. This system provided a low-cost, efficient, and effective service to clients. However, under the new regulations, these transactions will…