Johannes Gawaxab

BoN makes money in challenging times
31 Mar

BoN makes money in challenging times

ObserverUncategorised, ,
Tujoromajo Kasuto The Bank of Namibia has delivered a strong net operating surplus and paid a dividend which is 42 percent higher compared to 2020 amounting to N$413.7 million. Despite the low interest rate environment that persisted in 2021, the Bank recorded a higher surplus in 2021 than in 2020 and declared a record high dividend. The Board of BoN in consultation with the Ministry of Finance has decided to use a part of the dividend as seed capital for the newly created Sovereign Wealth Fund. However, the bank experience a decline in net income mainly due to low interest…
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Cash remains King in Namibia
04 Feb

Cash remains King in Namibia

ObserverObserver Money, ,
Tujoromajo Kasuto Bank of Namibia (BoN) Governor, Johannes !Gawaxab says the Namibian economy is one that is highly cash dominated as over 50 million Automatic Teller Machines (ATM) withdrawals totaling N$36.9 billion were conducted in 2021. Worth noting, is that as of the end of December 2021 the total currency in circulation stood at 4.63 billion Namibia dollars, he informs. During the same period cash redemption amounted to six percent of the total currency in circulation. !Gawaxab says these figures are a perfect illustration of Namibians remaining cash reliant despite advancements in digital payments. It is also indicative of the…
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BoN Governor defends high bank charges
15 Apr

BoN Governor defends high bank charges

ObserverObserver Money, ,
Kandjemuni Kamuiiri Bank of Namibia (BoN) Governor, Johannes !Gawaxab, has come out in defence of existing high banking fees and charges,stating that it was not the role of the central bank to detect what should be charged. This comes amid concern that high bank charges and fees in the country are contributing to financial exclusion, as members of the public shy away from the formal banking system. “We need to be careful that we don’t go tell the banks ‘thou shall charge the following fees’ because if that happens then we have got issues with financial stability in the country…
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BoN maintains Repo rate at 3.75 percent
10 Dec

BoN maintains Repo rate at 3.75 percent

ObserverUncategorised, ,
Staff Writer The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to keep the Repo rate unchanged at 3.75 percent. “This decision was taken following a review of global, regional and domestic economic and financial developments. The MPC is of the view that the rate remains appropriate to continue supporting domestic economic activity, while at the same time safeguarding the one-to-one link between the Namibia Dollar and the South African Rand,” BON Governor, Johannes !Gawaxab announced on Wednesday. !Gawaxab said the domestic economic activity declined during the first ten months of 2020 and is forecasted to register…
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!Gawaxab commemorates 100 days in office
18 Sep

!Gawaxab commemorates 100 days in office

ObserverUncategorised, ,
Staff Writer Bank of Namibia (BoN) Governor, Johannes !Gawaxab on Thursday commemorated his 100 days in office, while outlining his vision for the apex Bank. !Gawaxab took over the reins at the Bank at a time when the country was grappling with the negative impacts of COVID-19 on the economy. He was appointed as the third BoN Governor by President Hage Geingob in April, 2020. “I experience first-hand the resilience of the Namibian people who must face this situation daily, while the pandemic dominates without a clear ending, and who selflessly strive to save lives and the livelihoods of their…
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BoN calls for structural interventions
17 Jul

BoN calls for structural interventions

ObserverUncategorised, ,
Staff Writer The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab says although the central bank has continuously ensured a favorable macroeconomic environment for the country’s economic growth over the past 30 years, structural interventions are required to increase Namibia’s growth potential. “This Bank is ready to work with the Government, not in a subservient role, but rather in a complementary fashion to set the framework for accelerated economic development. The Namibian economy needs structural interventions to achieve a sustained increase in our growth potential,”! Gawaxab said during commemorations of BoN’s 30th anniversary. “We need to dedicate our time…
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!Gawaxab starts work at BoN
02 Jun

!Gawaxab starts work at BoN

ObserverUncategorised,
Staff Writer Johannes !Gawaxab officially started duty on Monday as third Namibian Governor of the Bank of Namibia following his surprise appointment by President Hage Geingob on 21 April 2020. As Governor,!Gawaxab will also serve as Chairperson of the Board of Directors of the Bank. On assuming duty,!Gawaxab said that he believes the central bank’s mandate is more than delivering on traditional roles such as monetary policy, and financial stability, but it is also about delivering on an economy that provides prosperity to Namibia. “Therefore, I aim to look at how best do we complement the collaborations between the monetary…
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Gawaxab appointed BoN Governor
22 Apr

Gawaxab appointed BoN Governor

ObserverObserver Money, ,
Staff Writer President Hage Geingob on Tuesday appointed veteran financial guru, Johannes Gawaxab as the new Governor of the Bank of Namibia effective June 1, 2020. “I congratulate you Johannes Gawaxab on your appointment and appreciate your willingness to bring your talents and experience of the financial services sector towards our tireless effort in building a united inclusive and prosperous Namibian house,” the President said. The move by Geingob to appoint Gawaxab to the helm of the apex banks comes after the head of state side-stepped long serving Bank of Namibia Deputy Governor, Ebson Uanguta who has been in his…
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