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BoN to share insights at World Banknote Summit

BoN to share insights at World Banknote Summit

The Director of Banking Services at the Bank of Namibia (BoN), Sam Shivute, will be one of only two African speakers from a group of 20 invited speakers at the World Banknote Summit to be held in Basel, Switzerland from 27 February to 1 March.

The conference confronts new realities that the banknote industry is undergoing in preparation for major transformations caused by both internal and external factors. Fueled by economic growth, recession, technology and regulations, fluctuations in cash demand are uncertain and unpredictable, impacting on Central Banks and the industry.

The Summit proposes on how to tackle the challenges ahead, mostly by providing the guidance and tools to Central Banks, State Printing Works and the Industry Suppliers necessary to effectively navigate the expanding management and operational complexities that are part of today’s industry landscape.

I feel very humbled and excited to have been invited as a Speaker at this prestigious International Summit in Basel, Switzerland,” Shivute recently said.

The purpose of his presentation is to provide an overview of Namibia’s experience in the selection and evaluation of the new security features, lessons learned, and share the new found banknote paper testing requirement which can be adopted by the currency industry as a standard test for new banknotes.

Shivute has extensive experience and exposure in the currency industry and he was one of the key players in the planning and production of Namibia’s new family of banknotes which was launched in 2012. He was also involved in the selection and evaluation of security features for a new family of bank notes.

In his role as Director of Banking Services Department, he is responsible for all aspects of currency management and the provision of banking services to Government and all local commercial banks. Seconded to serve as Commissioner of Inland Revenue Department at the Ministry of Finance from April 2013 to October 2014.

He currently serves as the Chairperson of the University of Namibia’s Council, Chairperson of the National Housing Enterprise and Deputy President of the Professional Speakers Association of Namibia.

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