The Bank of Namibia recently hosted a delegation from the Deutsche Bundesbank to bolster bilateral cooperation and enhance dialogue on economic and financial matters between Namibia and Germany.
Discussions centered on economic and financial cooperation, global economic developments, and emerging challenges within the financial sector.
The visit facilitated engagement between the Bundesbank delegation and key Namibian institutions, including the Office of the President, Parliament, the Ministry of Finance, the National Planning Commission, and the European Union.
Martin Theurer, a member of the Executive Board of the Deutsche Bundesbank, underscored the impact of geopolitical tensions, digital transformation, and climate change on the global banking industry.
Theurer highlighted that although Namibia and Germany have distinct domestic challenges, they also face shared global issues that demand coordinated solutions.
He further urged financial institutions to proactively manage geopolitical and geoeconomic risks, cautioning that the short-term gains from regulatory rollbacks would be far outweighed by long-term instability.
Additionally, Deutsche Bundesbank Executive Board Member Burkhard Balz delivered a lecture titled “The Impact of the Digital Euro on the Financial Sector.”
He provided insights into the development of Europe’s central bank digital currency (CBDC) and its potential implications for the global financial ecosystem, including African economies.
The two central banks formalized their collaboration in June 2022 with the signing of a Memorandum of Agreement.
The agreement established a framework for cooperation in training, technical assistance, and benchmarking in key areas of central banking. Since then, the institutions have worked together to explore new areas of collaboration, including digital transformation, macroeconomic research, digital currencies, and sustainability.
