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Bank of Namibia voted best in central banking transparency

Bank of Namibia voted best in central banking transparency

Mr Marsorry Ickua recently accepted an international award in London on behalf of the Bank of Namibia who was voted the overall winner in the Transparency category at the Annual Central Banking Awards.

The Bank was recognised for its outstanding efforts in broadening the reach and depth of its monetary policy communications and enhancing transparency in the execution of its price stability mandate.

Through its Strategic Plan (2022-2024), the Bank has made a concerted effort to expand the reach and scope of its engagements, ensuring effective communication of its initiatives to execute its mandate. This dedication to promoting transparency is encapsulated in the motto of its outreach efforts: ‘Embedding the Bank in Namibian society.’

In a statement announcing the award, the Bank said it has initiated popular dialogue to explain its monetary policy framework to the broader public. The monetary policy statements are also translated into local languages.

In August 2023, the Bank made history by hosting its monetary policy announcement at its Oshakati Branch, away from the capital city and its headquarters. Furthermore, the Bank has conducted public lectures in various regions, facilitated by the Governor, Mr Johannes !Gawaxab, to educate stakeholders on its mandate.

The Bank said its application for the Transparency Award in 2023 involved presenting robust, evidence-based information and defending its initiatives against those of reputable central banks globally. The award was granted solely on merit, with the Bank’s efforts standing out, attracting international recognition and affirming its commitment to become a future-fit and competitive central bank on the global stage.

Governor !Gawaxab stated: “I am deeply honoured to accept this prestigious award on behalf of the Bank of Namibia. Transparency ensures accountability, strengthens credibility, and fosters public trust.”


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