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Bank of Namibia expands collaboration with regional central banks

Bank of Namibia expands collaboration with regional central banks

The Governor of the Bank of Namibia, Johannes !Gawaxab late last month led a diplomatic mission aimed at strengthening collaboration and cooperation with central banks across the region.

Accompanied by a team from various departments including Financial Markets, Strategy, Projects & Transformation, Research, and International Relations, the Governor visited the Bank of Ghana, the Reserve Bank of Zimbabwe, and the Bank of Botswana in March.

During the visit to the Bank of Ghana, significant progress was made in laying the groundwork for an extensive partnership focused on enhancing cooperation in critical areas such as financial inclusion, digital innovation, FinTech regulation, and sovereign wealth management issues. Since the signing of the Memorandum of Understanding (MOU) in 2022, collaboration between the Bank of Namibia and the Bank of Ghana has flourished, resulting in notable milestones and a deeper understanding between the institutions.

Looking ahead to potential areas of collaboration for 2024, the Bank of Namibia expressed enthusiasm for exploring new avenues for cooperation and innovation. Highlighted areas include leveraging Ghana’s successful eCedi pilot, learning from the establishment of Ghana’s Central Securities Depository, and exchanging insights on sustainable banking principles.

At the Reserve Bank of Zimbabwe, both institutions expressed eagerness to deepen engagement and collaboration, particularly in the realm of Central Bank Digital Currencies (CBDCs). The meeting marked a crucial juncture in ongoing efforts to strengthen bonds of collaboration and cooperation between the central banks.

Similarly, the visit to the Bank of Botswana highlighted mutual interest and potential collaboration in areas such as monetary policy, sovereign wealth fund management, financial stability, macroprudential oversight, and bank resolution. The meeting marked a significant milestone in deepening collaboration between the two central banks, paving the way for substantive collaboration and innovation.

!Gawaxab emphasized the enduring strength and vitality of the partnerships established, expressing confidence in advancing shared objectives and driving positive change. The technical teams accompanying the Governor initiated discussions on identified topics, laying the groundwork for substantive collaboration and innovation.


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