During a special meeting held on 15 April, the Monetary Policy Committee (MPC) of the Bank of Namibia decided to cut the Repo rate with another 100 basis points to 4.25%. Said decision comes just hours after the South African Reserve Bank also cut the country’s benchmark interest rate by 100 basis points to 4.25% per annum.
Namibia’s newly appointed Minister of Finance, Hon. Iipumbu Shiimi, issued the fist official media statement introducing the Economic Stimulus and Relief Package to mitigate the economic impact of COVID-19. As at 1 April 2020, the total Stimulus and Relief Package amounts to N$8.1 billion, comprising of N$5.9 billion in direct support to businesses, households and cash flow acceleration payments for services rendered to Government and N$2.3 billion off-balance sheet Government liabilities.
On 31 March, the Chief Public Relations Officer of the Ministry of Finance, Mr. Tonateni Shidhudhu, issued the Ministry’s first official correspondence related to the COVID-19 pandemic and its impact on tax administration. In line with the national measures to prevent and contain the spread of COVID-19, the Ministry will ensure the continuity of essential tax services during the lockdown period.
The Ministry of Industrialization and Trade certified that certain entities of the CRVW Group of Companies have permission to operate during the Namibian state of emergency period as stipulated in Proclamation no. 9 by the President of the Republic of Namibia on the 28th of March 2020.
In line with above, our physical office is open for business from 07:30 to 17:00 Monday to Thursday and 07:30 to 13:30 on Friday’s.
Considering the regulations of the extended lockdown period, most of our staff members will continue to work from home and only critical contacts have returned to operate from the office.
29 Feld Street, Windhoek, Namibia
Monday - Thursday - 07:30 to 17:00
Friday - 07:30 to 13:30
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