Johannes !Gawaxab – Windhoek Observer

17 Oct

Banks invested N$980m in bonds

ObserverObserver MoneyBank of Namibia, Energy Agency (IEA), Johannes !Gawaxab

CHAMWE KAIRA Local banks have issued green bonds worth N$980 million in the last six years, figures presented at a Bank of Namibia green financing meeting have shown. Bank Windhoek issued the country’s first green bond in 2018 and a sustainability bond in 2021, raising N$227 million to fund renewable energy, sustainable agriculture, and biodiversity projects. In 2022, Standard Bank Namibia issued a green bond to raise N$400 million for solar and wind energy projects, while RMB Namibia, in partnership with FNB Namibia, raised N$353 million for green buildings and renewable energy initiatives. Central bank governor Johannes !Gawaxab said the…

08 Oct

Financial system stable amid moderate domestic economic conditions

ObserverObserver MoneyBank of Namibia, Financial System Stability Committee, Gross Domestic Product (GDP), Johannes !Gawaxab

Matin Endjala Namibia’s financial system remains stable and resilient despite slowing economic growth and global challenges, according to the Financial System Stability Committee (FSSC) report released on Tuesday. According to the report, factors like drought, low diamond prices, and weak global demand will cause Namibia's Gross Domestic Product (GDP) growth to slow to 3.1% in 2024. Global factors continue to primarily influence risks to the domestic economy. The FSSC, which includes the Bank of Namibia and the Namibia Financial Institutions Supervisory Authority, met on 3 October to assess the financial system’s resilience. Bank of Namibia Governor Johannes !Gawaxab said: “The…

02 Oct

!Gawaxab calls for innovation with stability in financial transformation

ObserverObserver MoneyBank of Namibia, Johannes !Gawaxab, Modernising Namibia’s Financial Landscape for a Prosperous Future

Martin Endjala The governor of the Bank of Namibia (BoN), Johannes !Gawaxab has called for adaptability and innovation in Namibia’s financial sector, urging the country to embrace technological advancements while maintaining stability. !Gawaxab made this statement on Tuesday during a lecture at the University of Namibia (UNAM) titled "Modernising Namibia’s Financial Landscape for a Prosperous Future." The lecture provided a platform to outline the bank’s strategic transformations to foster a financial system that promotes inclusivity, resilience, and sustained growth. "Success will depend on our ability to stay ahead of the curve, be adaptable, and foster innovation without compromising stability,” he…

17 Apr

BoN cautions against reducing repo rates

ObserverMainBank of Namibia (BoN), Johannes !Gawaxab

Martin Endjala The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab, has cautioned against reducing the repo rate because it will negatively impact the economy of the country He stated that Namibia is still battling to free itself from the economic downturn. “The Inflation rate is decelerating but it is not defeated yet, so the last thing you should do is to make policy errors to just reduce the rates now. If you look at what inflation did in the first three months of last year, you get an average of seven percent. Although it is coming down. What…

21 Aug

Trustco Bank’s license temporarily suspended

ObserverFeatured, National NewsBank of Namibia (BoN), Johannes !Gawaxab

Martin Endjala The Bank of Namibia (BoN) has temporarily suspended Trustco Bank Namibia’s license for a period of six months to rectify certain stipulated and communicated instances of non-compliance. This comes after BoN issued a statement last week Friday stating that the suspension is in accordance with Section 15(5) of the banking institutions Act no 13 of 2023, and it was done after consultations with the Ministry of Finance and Public Enterprise, which resolved to halt the authorisation of the Trustco Bank Namibia to operate as a banking institution with immediate effect. According to Johannes !Gawaxab, the BoN’s Governor, the…

17 Aug

Repo rate remains unchanged at 7.75 percent

ObserverMainBank of Namibia, Johannes !Gawaxab, Repo rate remains unchanged at 7.75 percent

Martin Endjala Following a comprehensive review of global, regional and domestic economic developments, the Bank of Namibia Monetary Policy Committee decided to maintain the current repo rate at 7.75 percent for the next two months, while also ensuring that stable platforms are created to grow the economy. During the announcement yesterday in Oshakati, Bank of Namibia Governor, Johannes !Gawaxab, responded to concerns and the impact the repo rate has on the economy and unemployed individuals. He said that the repo rate has a negative and positive impact on people’s lives and the economy, however, he is of the view that…

30 Mar

BoN pays N$413.7m dividends to the government

ObserverObserver MoneyBoN pays N$413.7m dividends to the government, Johannes !Gawaxab

Martin Endjala The Bank of Namibia yesterday announced its dividends to the government amounts N$413.7 million after its operating profit increased by 11.5 percent from N$584.2 million in 2021 to N$651.2 million in 2022. Dividends paid to the government were made possible after the central banks’ reserves increased from N$672 million in 2021 to N$772 million in 2022, the central bank’s Governor Johannes !Gawaxab announced during the annual report launch for 2022 under the theme of global economic shocks, rewiring Namibia to bolster resilience. The Governor also indicated that the domestic economy has shown a slight growth of 4.6 percent…

29 Jun

BoN strengthens African ties

ObserverNational Newsand the Bank of Botswana, e Governors of the Bank of Ghana, Ernest Addison, Johannes !Gawaxab, Moses Dinekere Pelaelo, Zemburuka

Tujoromajo Kasuto Last week, Bank of Namibia Governor Johannes !Gawaxab met with his counterparts on the continent as part of his efforts to strengthen collaboration and seek mutually beneficial relationships among African central banks. According to the Central Bank’s Director of Strategic Communications and International Relations, Kazembire Zemburuka, separate meetings were held to strengthen ties between the Governors of the Bank of Ghana, Ernest Addison, and the Bank of Botswana, Moses Dinekere Pelaelo. He says that the Bank also intends to call on the Central Bank of Kenya, given the advances made in the fintech space. Zemburuka noted that the…