BoN, Deutsche Bundesbank strengthen partnershipMartin Endjala

Staff Writer

BANK of Namibia (BoN) Governor, Johannes!Gawaxab last week led a high-level delegation to the Deutsche Bundesbank in Frankfurt, Germany, which sort to analyse and improve the two institutions’ exceptional co-operation.

According to a media statement by BoN’s International Relations and Sustainability Principal, Naufiku Hamunime, the connection between the two institutions stretches back to 2011, and is based on the sharing of ideas on numerous areas of mutual interest.

According to her, the tour included extensive discussions between the BoN delegation and their counterparts at the Deutsche Bundesbank.

Key subjects discussed include monetary policy, digitalisation, climate change, banking supervision, and financial inclusion.

“These interactions aimed to promote mutual growth and stability for both institutions by emphasising innovation and forward-thinking strategies. BoN saw this visit as an important step in strengthening its world-wide ties and boosting knowledge exchange. By collaborating with the Deutsche Bundesbank, BoN seeks to effectively address the challenges of the evolving financial landscape,” she said.

She highlighted that BoN has always been at the forefront of innovation and is committed to expanding financial inclusion in Namibia.

“Both banks committed to engage on numerous projects as a result of the trip, demonstrating their shared commitment to increasing financial inclusion, innovation, and developing future-ready organisations.”

Hamunime explained that the benchmark visit’s insights will be critical in BoN’s efforts to create a robust and resilient financial system, eventually benefiting Namibians and contributing to the country’s sustainable development.

“During his visit, Governor !Gawaxab had fruitful engagements with Joachim Nagel, President of the Deutsche Bundesbank, which further solidified the two institutions’ excellent relationship. While sharing perspectives on developments within their respective monetary and financial stability mandates, both leaders reaffirmed their commitment to deepening their partnership through enhanced capacity-building initiatives,” Hamunime stated.

She said the working relation between BoN and the Deutsche Bundesbank has been extremely beneficial in maintaining and strengthening bilateral relations, and that the visit provided the delegation with a critical opportunity to gain understanding in areas that will assist in successfully and proactively navigating the complexities of the future – while managing the most potent risks in local and regional financial systems.

“As the world becomes interconnected, central banks such as BoN and the Deutsche Bundesbank recognises the importance of collaboration and knowledge sharing in effectively addressing global economic challenges. This visit demonstrates both institutions’ commitment to fostering international cooperation for the greater good,” Hamunime said.

She closed by reaffirming BoN and the Deutsche Bundesbank’s common aim of sustaining stability, encouraging innovation, and supporting long-term economic growth.

The two organisations are pleased about the prospects that await them as they continue to collaborate to influence the financial landscape’s future.

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