Namibia Economist (Windhoek)

11 January 2013

Namibia: New Who's Who and Financial Services

The 2012/2013 Who's Who, and its sister publication, Financial Services in Namibia, was released in November last year. Perusing the Financial Services Namibia publication makes financial system jargon and intricacies almost entertaining to the layman. Speaking to the Economist, the editor Mrs Thea Visser explains that the new edition is made available to everyone with an interest in the financial services sector like government departments, embassies, investors and visitors.

"This edition is an update of Namibia's financial services sector for mid 2012 onwards and highlighted the main financial "happenings" for that period." In addition to the general overview of the whole industry, it also provides a summary of the 2012/13 budget, and updated overviews of the different sub sectors such as commercial banking, the insurance industry, micro lending, the accountancy sector among others"

According to Visser, "the new notes introduced by the Bank of Namibia was an important event. As such, we focused on our new and other countries' currencies, giving some insights to the first banknotes on record, the latest trends in the design and printing of notes, with extensive examples of various banknotes."

The overview of Namibia's financial system is captured artfully. The emphasis is the importance of the financial system as a building block for economic stability. Another captivating section includes an overview of micro lending. The publication's article on micro lending presents the views of economists who are cautiously observing the increased rate at which the sector is growing. The amount of money owed to micro-lenders is in excess of N$1.5 billion.

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