News Column

Namibia in bid to stall credit

August 21, 2014

Namibia's central bank hiked interest rates by 25 basis points to 6 percent yesterday as it sought to contain strong household credit growth, which it said was putting pressure on the country's reserves.

Credit demand, from households as well the business sector, swelled by 1.4 percent to |15.3 percent for the first half, compared to 13.9 percent during the last six months of 2013. The bank said, however, the prospects of growth were "encouraging".

Cape Argus

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Source: Cape Argus (South Africa)

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