BANK of Namibia Governor Johannes !Gawaxab recently paid a courtesy visit to the heads of the central banks of Botswana and Ghana, seeking to strengthen collaboration.
According to him, these visits were necessary to look at new ways to improve the banking sector and development within the industry, looking at the post-Covid impacts on Namibia’s economic sector.
He met with the head of the Bank of Ghana, Ernest Addison, and the governor of the Bank of Botswana, Moses Dinekere Pelaelo.
The BoN said during the visits, agenda items included price and financial stability issues, economic developments such as inflationary challenges in African economies due to the Russian-Ukrainian conflict, potential recession in advanced economies, supply chain disruptions and responses to date based on each country’s unique circumstances.
The bank said the discussions also focused on the digital transformation of the respective institutions, digital currencies, fintech and financial inclusion, among other topics emerging from the central bank.
In an engagement with Ghana’s central bank, !Gawaxab noted that Ghana has also been innovating on convenient solutions such as Ghana Pay, which was recently launched as a mobile money service.
He also commended Ghana for exploring central bank digital currency as a key intervention to balance the interests of all economic agents as something worth learning from.
A mutual agreement was signed with Ghana during the visit.
In addition, the BoN said that the Bank of Botswana also presented the operations of the central bank, as well as shared relevant information on the Pula Fund, which is Botswana’s high-impact sovereign wealth fund.
“Namibia’s own experience with the launch of the Welwitschia Fund indicates that the two countries could learn much from each other in pursuit of their respective mandates and the shared prosperity of their people. The visit renewed the cooperation between the two institutions,” !Gawaxab said.
E-mail: [email protected]