Namibia receives more earnings from regional customs union: central bank
WINDHOEK, June 12 — Namibia has received more earnings from the revenue pool of the Southern African Customs Union (SACU), the country’s central bank governor said on Wednesday.
Namibia has received 4.3 billion Namibian dollars (293 million U.S. dollars) from the SACU, Bank of Namibia governor Ipumbu Shiimi told Xinhua during a second quarter monetary policy announcement.
“One of the major reasons for our increased SACU foreign reserves is because of an increase in SACU receipts,” Shiimi said.
He added that in total the country will expect an average of 18 billion Namibian dollars (1.2 billion U.S. dollars) over the full financial year, marking a slight increase from the estimated 17 billion Namibian dollars (1.1 billion U.S. dollars). – XINHUA