Governors meet

The SADC Committee of Central Bank Governors (CCBG) met this week in Swakopmund to promote and achieve closer cooperation between the Community’s central banks. Bank of Namibia Governor, Ipumbu Shiimi played host to all the other SADC governors. Here he stands next to South African Reserve Bank Governor, Gill Marcus (middle front). After the conference, the Bank of Namibia said central banks play a crucial role in the promotion of financial and economic development, by way of pursuing policies that enhance financial and macroeconomic stability.

The key goals of the CCBG are to promote macroeconomic convergence, payment system integration, harmonization of central bank legislations and regulatory frameworks, trade and financial stability in the region. Recent economic developments, financial sector development and economic growth in SADC were also part of the key discussion at the meeting. The governors also approved new research topics on Intra-SADC trade in goods and services (including assessing the conditions for the dynamism of intra-regional trade), and sources of economic growth in the SADC region as well as their impact on employment and poverty reduction.  The meetings are held twice a year on a rotational basis in the member countries.