Namibia has officially launched the Central Securities Depository (CSD), a fully electronic system for securities registration, settlement and corporate actions.
The initiative, led by the Namibia Securities Exchange (NSX) in partnership with the Bank of Namibia (BoN) and under the regulatory oversight of the Namibia Financial Institutions Supervisory Authority (NAMFISA), marks a significant step in modernising the country’s capital markets.
The CSD replaces traditional paper-based processes, enhances settlement efficiency, reduces operational risk and strengthens investor confidence through a secure digital platform.
Johannes !Gawaxab, Governor of the Bank of Namibia, said the CSD enables delivery-versus-payment mechanisms, reduces counterparty and settlement risks, and aligns Namibia with IOSCO Principles for Financial Market Infrastructures.
He stated that the new system is designed to improve efficiency, security and transparency, allowing both domestic and foreign investors to access Namibia’s markets more effectively.
“The lesson for Namibia is clear: when you remove paper, reduce settlement risk and standardise post-trade processes, liquidity improves. Investors trade more, issuers can raise capital at finer spreads, and the market becomes more resilient,” !Gawaxab said.
Tiaan Bazuin, Chief Executive of the NSX Group, described the launch as a transformative moment for Namibia’s financial markets and a clear demonstration of the country’s commitment to modern infrastructure and global competitiveness. He said the CSD will strengthen investor protection, ensure accurate ownership records and streamline post-trade processes.
“The go-live of the CSD is a transformative moment for Namibia’s capital markets. It signals that we are serious about modern infrastructure, efficiency and international competitiveness. Through the CSD, we will deliver a secure, efficient post-trade environment that strengthens investor confidence and opens new opportunities for market participation,” Bazuin said.
NAMFISA, as the supervisory authority, welcomed the launch and said its role will ensure that market conduct, investor protection frameworks and settlement integrity remain at the centre of the transition to electronic post-trade management.
The authority noted that greater transparency and standardisation in securities settlement would support regulatory compliance and reduce systemic vulnerabilities in the financial markets.
According to the Bank of Namibia, the CSD is expected to unlock greater liquidity by shortening settlement cycles, removing risks associated with manual certificates, expediting corporate action processing and reducing administrative burdens for issuers.
Initial operations are supported by five approved Central Securities Depository Participants (CSDPs): Rand Merchant Bank (RMB), Standard Bank Namibia, NSX Financial Market Services (NSX FMS), the Bank of Namibia and Nedbank Namibia.
These institutions will oversee investor onboarding, client account management and compliance with post-trade custody and settlement standards.
In a joint update, the NSX, BoN and NAMFISA confirmed that the onboarding of all market participants will continue, alongside the migration of existing securities into the digital environment.
Full automation of settlement processes, training programmes and integration projects are set to follow to ensure a coordinated and secure transition for the entire capital market.
