WINDHOEK, May 31– Namibia‘s official stock of international reserves saw a significant increase at the end of April, rising by 6.6 percent on a monthly basis to reach 63.6 billion Namibian dollars (about 3.6 billion U.S. dollars), the country’s central bank revealed Friday.
The Bank of Namibia, in the Money and Banking Statistics report, attributed the monthly increase in reserves to the Southern African Customs Union (SACU) receipts.
“This level of international reserves translates into 4.2 months of import cover, whereas the import cover excluding oil exploration and appraisal activities, which are mostly funded from abroad, stood at 5.1 months of import cover,” the central bank said.
While international reserves showed strong growth, the report also highlighted other key economic indicators. The annual growth in private sector credit extension stood at 4.5 percent in April 2025, down from a 5 percent growth rate recorded in March, the report noted.
According to the bank, the overall cash holdings within the banking industry rose, with these balances increasing to an average of 9.9 billion Namibian dollars in April from 9.4 billion Namibian dollars in March, suggesting increased liquidity within the banking system.
The central bank added that headline inflation decreased in April and stood at 3.6 percent, compared to the 4.2 percent recorded in March. (Xinhua)
