 The Bank of Namibia (BoN) and the Reserve Bank of Zimbabwe (RBZ) are planning to formally establish cooperation in the areas of fintech and innovation.Â
This was after the two southern African central banks created Fintech and Innovation Hubs to spur innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on financial markets and institutions and the provision of financial services.Â
BoN Governor Johannes !Gawaxab recently led a delegation to Zimbabwe and met RBZ Governor Dr. John Mangudya and his management as part of the Bank’s internationalisation efforts to forge strong ties and cooperative relationships with sister central banks.Â
“The discussions centered on the banking sector’s supervision and regulatory frameworks. The two central banks also examined the administration, operation, and related frameworks of deposit guarantee schemes,†said BoN.Â
In June, BoN also announced a plan to collaborate with Angola’s central bank, Banco Nacional de Angola (BNA), on digitally enabled payment methods, including digital currencies and crypto assets.Â
This was after the two central banks decided to jointly improve trade-friendly exchange control regimes and protect the stability and integrity of the two countries’ financial systems.
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