STAFF WRITER
Namibia foreign reserve assets increased to N$51.9 billion at the end of January 2026 from N$48.6 billion at the end of October 2025, thanks to improved earnings from the Southern African Customs Union (SACU) receipts.
The apex bank chief said the stock of international reserves also recovered from the decline recorded in October 2025, following the successful redemption of the USD750 million Eurobond.
Announcing the monetary policy on Wednesday, central Bank Governor Ebson Uanguta said the improvement will cover an estimated import cover of 3.3 months.
Uanguta said the cover is sufficient to support the currency peg and meet the country’s international financial obligations.
The Governor also maintained the repo rate at 6.50%.
“The Monetary Policy Committee (MPC) of the Bank of Namibia held its first bi-monthly meeting of 2026 to decide on the appropriate monetary policy stance for the next two months, guided by a comprehensive assessment of the latest available economic indicators. To continue safeguarding the peg between the Namibia Dollar and the South African Rand, and supporting the domestic economy, the MPC unanimously decided to keep the Repo rate unchanged at 6.50%,” he said.
The Governor said Namibia’s external position benefited from higher export volumes and strong commodity prices.
“The annual merchandise trade deficit narrowed by 35.4 percent to N$25.0 billion in 2025. This improved position reflects robust export earnings, especially from uranium and gold, which outweighed the impact of a modest increase in import payments,” he said.
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