The Bank of Namibia (BoN) was awarded the Transparency Award at the Annual Central Banking Awards, held in London on Thursday.
As the overall winner in the transparency category for the 2023 period, the central bank was recognised for its outstanding efforts in broadening the reach and depth of its monetary policy communications and enhancing transparency in the execution of its price stability mandate. The event, organised by Central Banking Publications, celebrates exceptional achievements within the central banking community.
The recognition comes as BoN, through its Strategic Plan (2022-2024), has made a concerted effort to expand the reach and scope of its engagements through efforts such as Monetary Policy Dialogues, translating the Monetary Policy statements into local languages, and in August last year, hosting its Monetary Policy Announcement at its Oshakati Branch, the first outside of the capital city.
“These initiatives demonstrate the Bank’s dedication to enhancing stakeholder engagement, transparency, accessibility, and understanding, all of which are critical to safeguarding price stability. The Bank’s commitment to transparency in executing its mandate, particularly concerning monetary policy, is evident through these efforts,” BoN said.
Receiving the award on behalf of the Bank, Marsorry Ickua, the Officer in Charge, said, “This award recognises the hard work and dedication of the entire Bank of Namibia team. Together, we are building trust through transparency.”
BoN Governor Johannes !Gawaxab said the award reaffirms the central bank’s dedication to upholding the highest standards of transparency and accountability in navigating the complex landscape of monetary policy.
“I am deeply honoured to accept this prestigious award on behalf of the Bank of Namibia. It underscores our commitment to transparency and stakeholder engagement in maintaining price stability. Our Strategic Plan (2022-2024) prioritises clear communication of our decisions. Transparency ensures accountability, strengthens credibility, and fosters public trust,” he said.
