The Bank of Namibia (BoN) is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

Namibia Namibia (, ), officially the Republic of Namibia, is a country in Southern Africa. Its western border is the Atlantic Ocean. It shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south and ea ...

, whose establishment is enshrined in Article 128 of the

Namibian Constitution The Constitution of Namibia is the supreme law of the Republic of Namibia. Adopted on 9 February 1990, a month prior to Namibia's independence from apartheid South Africa, it was written by an elected constituent assembly. Preamble "Whereas ...

. It is located in the capital city of

Windhoek Windhoek (, , ) is the capital and largest city of Namibia. It is located in central Namibia in the Khomas Highland plateau area, at around above sea level, almost exactly at the country's geographical centre. The population of Windhoek in 20 ...

. The Bank of Namibia was established in 1990 by the ''Bank of Namibia Act, 1990'' (Act 8 of 1990). The Bank of Namibia is the only institution that is permitted to issue the

Namibian dollar The Namibian dollar (symbol: N $; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 ...

by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is the

Governor of the Bank of Namibia The Governor is the official head of the Bank of Namibia. They are responsible for implementing Namibia's monetary policy and chairing the meetings of the bank's board of directors. List of governors of the Bank of Namibia The governors of the ...

Governors

The Governors to date have been: * Wouter Bernard (16 June 1990 - 31 August 1991) * Erik Lennart Karlsson (1 September 1991 - 31 December 1993) * Jaafar bin Ahmad (1 January 1994 - 31 December 1996) *

Tom Alweendo Thomas Kavaningilamo Alweendo (born 17 March 1958 in Omusheshe, Oshana Region) is a Namibian politician who has been Minister of Mines and Energy since 2018. In 1997, he became the first Namibian Governor of the Bank of Namibia when he replaced ...

(1 January 1997 - 25 March 2010) *

Ipumbu Shiimi Iipumbu Wendelinus Shiimi is a Namibian economist who has been the Minister of Finance since 2020. Before that, he served as governor of the Bank of Namibia from 2010 until 2020. Early life and education Shiimi holds a Master of Science degree in ...

(25 March 2010 - 1 June 2020) * Johannes !Gawaxab (1 June 2020 - present) The bank is engaged in policies to promote

financial inclusion Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and service ...

and is a member of the

Alliance for Financial Inclusion The Alliance for Financial Inclusion, or AFI, is a policy leadership alliance owned and led by member central banks and financial regulatory institutions with the common objective of advancing financial inclusion at the country, regional and inte ...

. On March 5, 2012, the Bank of Namibia announced it would be making specific commitments to financial inclusion under the Maya Declaration.

References

External links

* {{authority control Government-owned companies of Namibia Economy of Namibia

Banks established in 1990 Banks of Namibia Companies based in Windhoek Namibian companies established in 1990

Governors

See also

References

External links