Depreciation of South African Rand threatens Namibia’s economy
Published on: Monday 15 May 2023
By Josef Kefas Sheehama.South Africa’s rand tumbled to 19.51 against the United States dollar, as geopolitical risks added to investor concerns over a domestic energy crisis and global monetary tightening.South Africa is Namibia’s major import partner receiving between 66% and 80% of total imports. The effects of Rand depreciation will affect Namibia’s economy and the local market, and even if we don’t have the same problems as South Africa, we...
News source: https://www.msn.com/en-xl/africa/other/depreciation-of-south-african-rand-threatens-namibia-s-economy/ar-AA1beWo0
