The Bank of Namibia (BoN) and Germany’s Deutsche Bundesbank have renewed their technical cooperation agreement, extending a partnership that has been in place since 2011 and covers financial stability, reserves management and central banking skills development.
The Memorandum of Understanding (MoU) was signed by BoN Governor Ebson Uanguta and Deutsche Bundesbank Executive Board Member Lutz Lienenkämper during Lienenkämper’s official visit to Namibia.
Under the renewed agreement, the two central banks will continue cooperating through technical assistance, specialised training, seminars, workshops, expert discussions and study visits. The agreement also provides for cooperation on emerging central banking priorities.
The partnership was first formalised in 2011 and the agreement was subsequently renewed in 2016 and 2022, expanding cooperation in technical expertise, knowledge exchange and human-capital development.
As part of the partnership, five Namibian students have been admitted to the Deutsche Bundesbank University of Applied Sciences in Hachenburg, Germany, where they are receiving specialised academic and practical training in central banking.
Cooperation between the institutions has also expanded through the European System of Central Banking-Africa capacity-building programme.
This has included expert missions, technical assistance and study visits covering financial stability, macroprudential oversight, sustainability and, more recently, reserves management.
BoN said the renewed agreement comes as central banks face emerging challenges ranging from technological innovation to changing financial risks, requiring greater access to specialised expertise and institutional capacity.
During his visit, Lienenkämper also held discussions with BoN’s Management Committee and met Finance Minister Ericah Shafudah and Germany’s newly appointed Ambassador to Namibia, Thomas Wimmer.
He also delivered a public lecture on institutional excellence and human capital to BoN staff and human resources professionals.
