The Bank of Namibia and the Namibian Stock Exchange (NSX) have commenced with the process of setting up the Central Securities Depository (CSD) company.
The company will be an independent provider of post-trade products and services, offering electronic settlement capabilities for equities and bonds transactions conducted on the Namibia Stock Exchange, as well as for money market securities.
Tiaan Bazuin, Chief Executive Officer of the NSX, has been appointed as interim Executive Chairman of the CSD on a part-time basis.
In an exclusive interview with The Brief, Bazuin revealed that the company has already submitted its licence application and is now in the process of establishing its operational framework.
“The primary objective of the CSD is to create a central securities depository, which will replace traditional paper certificates with electronic scripts,” Bazuin explained. “This is a pivotal modernisation effort that will significantly increase the efficiency and accessibility of our financial markets.”
The licensing process is expected to take several months, but Bazuin hinted that the CSD could be operational next year.
The establishment of the CSD is a significant step forward for Namibia’s financial markets, aligning them with global standards and positioning them for future growth.
