Capital flight: Namibia closes the money tap.

Position::BUSINESS BRIEFS - Brief article
 
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Namibia has slapped restrictions on the outflow of capital from the country, mainly to neighbouring South Africa. The cash stream, mainly from pension funds, life insurance and commercial banks has been attracted by boom investment conditions in South Africa soaking up some 70% of Namibia's investment capital.

Namibia's Central Bank estimates that an average of N$2.3bn (N$6=US$1) a year flows into South African investment opportunities to the detriment of Namibia's industrial...

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