Nicholas Mukasa has been appointed as Second Deputy Governor of the Bank of Namibia, effective 1 May 2026.
The appointment was made by President Netumbo Nandi-Ndaitwah in terms of Article 32(4)(b) of the Namibian Constitution and Section 5 of the Bank of Namibia Act, 2020.
Mukasa succeeds Ebson Uanguta in the role, following Uanguta’s appointment as Governor of the Bank of Namibia with effect from 1 January 2026 for a five-year term, succeeding Johannes !Gawaxab.
Leonie Dunn remains the other Second Deputy Governor, having been appointed in 2021.
Mukasa joins the central bank’s leadership at a time when it is strengthening its capacity to respond to shifts in the economy, including the digitisation of financial services and emerging sectors such as energy.
He previously served as Director of Financial Markets at the Bank of Namibia, where he was responsible for managing foreign exchange reserves, implementing monetary policy decisions and overseeing government domestic debt issuance.
Mukasa has been with the central bank since 2011, when he joined as a Risk Analyst. He has since held several senior roles, including Portfolio Manager, Portfolio Risk Manager and Deputy Director for Compliance and Risk Analytics, before being appointed Director of Financial Markets in 2016.
He also served on the Bank’s Management Committee and Monetary Policy Committee.
Before joining the Bank, Mukasa worked in stockbroking and asset management, including roles at Namibia Equity Brokers and Prudential Portfolio Managers Namibia.
He holds a Bachelor of Business Administration from the University of Namibia and is a Chartered Financial Analyst (CFA) charterholder. His executive training includes programmes at Stellenbosch University and Harvard Business School.
Bank of Namibia Governor Ebson Uanguta said the appointment comes at a critical time for the institution.
“Nicholas’s appointment could not be more timely as we continue to build a knowledge-based institution. His extensive expertise in financial markets and policy implementation will be crucial in guiding the Bank through this pivotal phase,” he said.
