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Central Bank seminar to zoom in on the impact of COVID-19 on the local economy

Central Bank seminar to zoom in on the impact of COVID-19 on the local economy

The Bank of Namibia (BoN) will host a seminar to be held on Friday, 23 October, under the theme: ‘The Impact of COVID-19 on the Namibian Economy – Mapping the way to recovery’.

The seminar starts at 08h00 – 13h00 and will be live-streamed on the Bank of Namibia’s Facebook page – @BankofNamibia.

At the seminar, local economists, central bankers, and industry players will speak on selected topics, before joining a panel discussion that will unpack these topics further. Governor Johannes !Gawaxab, will deliver the keynote

The key objectives of the seminar, among others, is to analyse the impact of the COVID-19 pandemic on the economy, especially on the informal economy as well as the SME sector, accordong to BoN’s Deputy Director: Corporate Communications, Kazembire Zemburuka

Furthermore, Zemburuka said the seminar will seek to examine the unique challenges faced and the scope for interventions and strategies by the banking industry to support the sectors to rebuild their businesses during and after the pandemic.

“The seminar additionally aims at assessing the impact of the COVID-19 relief measures provided by the banking sector to cushion households and businesses from the impact of the pandemic. The impact of Fintech on the banking sector during the pandemic will also be considered, while simultaneously investigating how businesses can gain a competitive advantage in service and product delivery through harnessing the 4th Industrial Revolution,” he said.

Furthermore he said, the seminar will look at sustainable ways in which to better allocate digital resources in areas where they are used most productively, as a strategy to grow the economy from the effects of the pandemic. An examination on the existence of a scope for further monetary and macroprudential response by the central bank shall also be made.

Meanwhile, other speakers include Vetumbuavi Mungunda, Managing Director: Standard Bank Namibia, who will present the topic – banking the Namibian economy in times of the COVID-19 pandemic: Is there more to be done?; Dr. Martin Mwinga, Chief Executive Officer of First Capital Namibia, will present – COVID-19 relief measures to the informal economy/SMEs; and Ndeu Naukushu, the Founder and CEO of Africa Productivity Specialists, shall speak on – Innovation and digitisation during and after the pandemic. Florette Nakusera, Director of Research and Financial Stability at the Bank of Namibia, is expected to open the speakers’ floor with a presentation on the Outlook for the Namibian economy and BoN’s monetary and macroprudential responses.


 

About The Author

Mandisa Rasmeni

Mandisa Rasmeni has worked as reporter at the Economist for the past five years, first on the entertainment beat but now focussing more on community, social and health reporting. She is a born writer and is working on her degree in Journalism at the Namibia University of Science and Technology (NUST). She believes education is the greatest equalizer. She is the epitome of perseverance, having started as the newspaper's receptionist in 2013.