The Bank of Namibia (BoN) says it is exploring new avenues for cooperation, particularly on financial inclusion, digital innovation, and FinTech regulation with Ghana’s Reserve Bank.
This builds on a partnership established through a Memorandum of Understanding signed in 2022 between the two central banks where BoN expressed particular interest in learning from Ghana’s eCedi, the country’s digital currency pilot programme.
Namibia says it sees potential in leveraging Ghana’s experience with the eCedi to explore similar initiatives and promote financial inclusion within its borders.
“Identifying potential areas of collaboration for 2024, the Bank of Namibia expressed enthusiasm for exploring new avenues for cooperation and innovation. Some of the highlighted areas include leveraging Ghana’s successful eCedi pilot, learning from the establishment of Ghana’s Central Securities Depository, and exchanging insights on sustainable banking principles,” BoN’s Acting Director for Strategic Communications and International Relations Naufiku Hamunime said.
This comes as BoN Governor Johannes !Gawaxab recently embarked on a visit to strengthen collaboration with regional central banks. His tour encompassed the Bank of Ghana, the Reserve Bank of Zimbabwe, and the Bank of Botswana.
According to Hamunime, during his visit to Zimbabwe, the Governor and his team focused on Central Bank Digital Currencies (CBDCs) with both central banks expressing eagerness to explore the financial instrument and its potential benefits.
Meanwhile, the visit to Botswana highlighted mutual interest in collaboration on monetary policy, sovereign wealth fund management, and financial stability.
“The meeting also marked a significant milestone in deepening collaboration between the two central banks, paving the way for substantive collaboration and innovation,” she said.
Last year, the Bank of Namibia and Banco Nacional de Angola also signed a Memorandum of Agreement in Luanda which formalised a technical collaboration and partnership between the two institutions.
