Bank of Namibia to conduct a BoP census

The participation of the general public and stakeholders will have an impact on economic policy formulation and decision-making in the country.

04 August 2021 | Economics

The 2021 census will be conducted online through an exploratory survey. Kazembire Zemburuka, Deputy director for corporate communications: BoN

STAFF REPORTER

The Bank of Namibia (BoN) intends on conducting a Balance of Payments (BoP) census in order to increase Namibia's BoP sample size and statistics.

According to the BoN’s deputy director for corporate communications, Kazembire Zemburuka, a BoP census is a comprehensive count of all organisations and persons residing in Namibia who have foreign assets or liabilities or engage in transactions with non-residents.

To perform its function, the central bank maintains a database of various economic indicators, gathered from individuals and organisations across the country. In particular, the BoN collects data on economic transactions between Namibian resident enterprises and the rest of the world in the form of foreign ownership, foreign assets, and liabilities, he said.

In this regard, a census which is conducted every ten years shall strengthen the BoP database. The 2021 census will be conducted online through an exploratory survey, which will be distributed via an email link from the email address [email protected], Zemburuka pointed out.

The BoP staff of the bank will contact the identified businesses by phone to obtain email addresses to which the online survey will be sent. The exploratory survey began in June 2021 and will continue until December 2021.

The bank would like to thank all participants for their assistance in enabling it to carry out its mandate effectively.

The general public and various stakeholders can be confident that their participation will have an impact, particularly on economic policy formulation and decision-making in the country. In this regard, the bank is dedicated to conducting a successful census that meets international standards and informs Namibia's economic development trajectory, he said.

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