RMB

Carel Jordaan Namibia’s sophisticated and liquid foreign exchange market plays a crucial role in its economy. Notwithstanding the country’s size, we have a very liquid market. Banks, like FirstRand Namibia, have been playing a key role in establishing this market. Equally, banks are instrumental in developing, capacitating and growing its potential. Although the Namibian Dollar replaced the South African Rand in 1993, following Namibia’s independence from its neighbour, the rand remains widely used in Namibia. Moreover, the dollar has been pegged to the rand at one to one as Namibia is a member of the Common Monetary Area (CMA). The…