Africa Links 24 with Shania Lazarus
Published on 2025-10-04 06:00:00
Commercial banks have decided to lower interest rates on loans by 0.25%.
In an announcement made yesterday, the Bank of Namibia said it will be reducing the lending rate spread, which was 3.75%.
Currently the repo rate is 6.75% while the prime rate is 10.50%. With the new rate adjustment, the prime rate will be 10.25%.
Earlier this year, the central bank announced it would be having a discussion with the banks to lower the spread.
The adjustment will be implemented in two…
Read the Full article on The Namibian
