Staff Reporter
WINDHOEK, Dec. 9 — The Bank of Namibia (BoN) and the Communications Regulatory Authority of Namibia (CRAN) have cemented their partnership by signing a new Memorandum of Understanding (MoU) on December 6, 2024, in Windhoek. This agreement replaces the 2016 MoU, setting a robust foundation for enhanced collaboration between the two entities.
The MoU outlines comprehensive areas of cooperation aimed at addressing mutual concerns in the financial and telecommunications sectors. Key focus areas include telecommunications and mobile money regulation, SIM registration, cybersecurity, implementing the Electronic Transactions Act (2019), and Open Banking and Open Finance advancements.
At the ceremony, CRAN CEO Mrs. Emilia Nghikembua underlined the importance of joint efforts in navigating the evolving technological and financial landscapes. BoN Deputy Governor Ms. Leonie Dunn emphasized that the partnership is essential for tackling the convergence challenges between financial services and telecommunications, particularly in combating cybersecurity threats and financial crimes.
This collaboration not only reinforces Namibia’s financial and telecommunication infrastructures but also aims to foster innovation while prioritizing consumer protection. By streamlining processes and ensuring regulatory independence, BoN and CRAN have set a clear path to safeguard national interests and promote sustainable economic growth. – Namibia Daily News
