Bank of Namibia moves to strengthen ties with other African central banks

WINDHOEK, June 28  — Namibia’s central bank, the Bank of Namibia (BoN) has moved to strengthen collaboration and seek mutually beneficial relationships among African central banks.
Johannes Gawaxab, Namibia’s central bank governor, recently visited Ernest Addison, the governor of the Bank of Ghana, and Moses Dinekere Pelaelo, the governor of the Bank of Botswana, to strengthen ties, BoN spokesperson Kazembire Zemburuka said Tuesday.
“The courtesy visits extended collaboration efforts while discussing key price and financial stability issues and economic developments such as inflationary challenges in African economies because of the Russia-Ukraine conflict, potential recession in advanced economies, and supply chain disruptions, and the responses to date based on each country’s peculiar circumstances,” Zemburuka added.
According to Zemburuka, the discussions also aimed to compare notes on the digital transformation of respective institutions, digital currencies, fintech, and financial inclusion, among other emerging central banking topics.
“While pursuing collaboration on relevant projects to aid cooperation on these and other topics, the importance of learning from one another through benchmarking was emphasized,” he added.
Gawaxab emphasized the significance of formalizing cooperation with the Bank of Ghana in the spirit of the two countries’ excellent relations and the two central banks are set to sign a Memorandum of Understanding on mutually agreed-upon topics to formalize the cooperation.
The Bank of Botswana also presented operations of the central bank and shared relevant information on the Pula Fund, Botswana’s highly impactful sovereign wealth fund.
“Gawaxab narrated Namibia’s own experience with the launch of the Welwitschia Fund and noted that the two countries could learn a great deal from one another in furtherance of their respective mandates and the shared prosperity of their people,” Zemburuka said. (Xinhua)