Trade verification system to combat illicit activities

Hertta-Maria Amutenja The Bank of Namibia (BoN) and Namibia Revenue Agency (NamRA), have unveiled the Trade Verification System (TVS) to enhance trade efficiency and combat illicit activities. The central bank and the agency said the digital initiative promises to revolutionise the country's trade processes, offering improvements in efficiency, transparency, and security in trade operations. The system will come into effect next month. BoN Director of Strategic Communications and International Relations Kazembire Zemburuka and Chief NamRa Strategic Communications and Support Engagements Yarukeekuro Ndorokaze, in a joint media statement, explained that the international trade system, in particular, has been exploited by various…