Industry WIKI

Banking in Namibia started in June 1906, when German colonists formed the Deutsche Afrika Bank, which would become the First National Bank of Namibia. Following Namibian Independence in 1990, the Namibian banking sector came under the control of the new government which restructured the sector and created the Bank of Namibia as the central bank. Today banking is dominated by South Africa

The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. The Southern African Customs Union (SACU) includes all CMA members in addition to Botswana, which replaced the rand with the pula in 1976 as a means of establishing an independent monetary policy. The CMA facilitates trade and promotes economic development between its member states.

The loti (plural: maloti) is the currency of the Kingdom of Lesotho. It is subdivided into 100 sente (pl. lisente). It is pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both

The Namibian dollar (symbol: $ or N$; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign ($), or alternatively N$ to distinguish it from other currencies called “dollar.” It is divided into 100 cents.

The dobra (Portuguese pronunciation: [ˈdɔβɾɐ]) is the currency of São Tomé and Príncipe. It is abbreviated Db and is divided into 100 cêntimos. The first dobra (STD) was introduced in 1977, replacing the escudo at par. Due to past inflation, on 1 January 2018 the dobra was redenominated at a rate of 1000 to 1, and given the new ISO 4217 currency code STN.

The lilangeni (plural: emalangeni, ISO 4217 code: SZL) is the currency of Eswatini and is subdivided into 100 cents. It is issued by the Central Bank of Eswatini (in swazi Umntsholi Wemaswati) and is authorised by the king and his family. The South African rand is also accepted in Eswatini. Similar to the Lesotho loti, there are singular and plural abbreviations, namely L and E, so where