The Bank of Namibia has been named the winner of the Artificial Intelligence Initiative Award at the Central Banking Awards, in recognition of its integration of artificial intelligence and machine learning tools into core operations.
The award honours central banks and financial regulators that have effectively deployed artificial intelligence across areas such as forecasting, liquidity management, payments oversight, regulatory reporting and fraud detection. Judging criteria focused on innovation, effectiveness and cybersecurity standards.
The central bank was recognised for a series of AI-driven initiatives aimed at strengthening data-driven decision-making and supervisory oversight.
These include a Non-Performing Loans (NPL) machine learning predictive analytics model, designed to provide forward-looking insights into risks within the banking sector, and an inflation nowcasting system that generates near real-time forecasts to support monetary policy decisions.
The Bank was also recognised for its Regulatory Navigation Tool (RegNav), an AI-powered platform that provides instant regulatory guidance and improves access to financial sector information.
The initiatives form part of the Bank’s broader strategy to enhance operational efficiency while maintaining strong governance and cybersecurity safeguards in the adoption of emerging technologies.
Governor Ebson Uanguta said the recognition reflects the Bank’s focus on applying innovation to deliver measurable outcomes for the financial system.
“We are deeply honoured to be named the winner of Central Banking’s Artificial Intelligence Initiative Award, a recognition that reflects our belief that innovation in central banking must deliver measurable impact for the economy and the financial system,” Uanguta said.
“We view this award not as a destination, but as a milestone in our journey to build a data-driven, forward-looking central bank aligned to the demands of the new economy,” he added.
Beyond internal applications, the Bank has also contributed to the development of Namibia’s broader artificial intelligence ecosystem.
In partnership with the Namibia University of Science and Technology (NUST), the central bank supported the establishment of the Artificial Intelligence and Robotics Accelerator (AIRA) laboratory. The facility is aimed at equipping students with practical skills in areas such as robotics, natural language processing, computer vision and AI cybersecurity.
The initiative forms part of efforts to strengthen local technological capacity and support the development of a future-ready workforce.
The Bank said the award reflects collaboration across its departments, with teams contributing to the development and implementation of its AI initiatives.
It added that it will continue to engage with international benchmarking platforms as part of efforts to strengthen institutional capabilities and advance innovation within the central banking sector.
The award is scheduled to be formally presented at the Central Banking Awards ceremony in June 2026.
