Ebson Uanguta, Deputy Governor of the bank, said during his presentation of Namibia’s Financial Stability Report for 2016, that the two sectors had increased considerable and requires continuous monitoring going forward.
Despite the debts being on the rise, Uanguta highlighted that the banking sector remained sound, profitable and adequately capitalized, while the non-banking Financial Institutions are also sound and do not pose systematic risks to financial stability.
Furthermore, he said that the payment system infrastructure in Namibia continued to operate efficiently and effectively.
“Overall, the Namibian Financial System remains robust and resilient to shocks. Namibia’s Financial system remains healthy and sound,” he said. Enditem