Namibian economy is one that is highly cash dominated

Tujoromajo Kasuto Bank of Namibia (BoN) Governor, Johannes !Gawaxab says the Namibian economy is one that is highly cash dominated as over 50 million Automatic Teller Machines (ATM) withdrawals totaling N$36.9 billion were conducted in 2021. Worth noting, is that as of the end of December 2021 the total currency in circulation stood at 4.63 billion Namibia dollars, he informs. During the same period cash redemption amounted to six percent of the total currency in circulation. !Gawaxab says these figures are a perfect illustration of Namibians remaining cash reliant despite advancements in digital payments. It is also indicative of the…