Staff Writer
The Bank of Namibia (BoN), along with financial institutions, regulators and industry associations, launched the Namibia Sustainable Finance Alliance (NSFA) this week.
The alliance brings Namibia’s financial sector together to advance sustainability, strengthen climate resilience and support inclusive growth.
Speaking at the launch, the deputy governor of the Bank of Namibia and chairperson of the alliance, Ebson Uanguta, said, “The Namibia Sustainable Finance Alliance represents a clear demonstration of the collective resolve of our institutions to address one of the most defining challenges of our time: embedding sustainability and climate resilience into the financial system.”
The NSFA is a voluntary platform through which regulators, institutions, associations and government agencies can coordinate efforts to mainstream sustainable finance.
Institutions that signed the terms of reference include the Bank of Namibia, Namibia Financial Institutions Supervisory Authority (Namfisa), Namibia Savings and Investment Association, Bankers Association of Namibia (BAN), Bank BIC, Bank Windhoek, Letshego Holdings Namibia and Namibia Reinsurance Corporation.
Namibia faces climate risks that threaten its economy and financial system.
The sector is already seeing impacts through rising defaults and increased insurance claims.
At the same time, it plays a key role in financing climate-smart agriculture, renewable energy, sustainable water and land management, and other adaptation projects.
BoN said the financial sector has begun aligning with sustainability goals in recent years. Institutions have issued green bonds, accessed international climate finance and placed climate finance at the centre of long-term strategies.
Sector-wide initiatives have also strengthened tools and data to support sustainable investment.
Participation at United Nations climate conferences has become a regular feature for Namibian financial actors, creating opportunities for international collaboration.
“Namibia is at a crossroads. Our people have shown remarkable resilience, and now our financial system must complement that resilience with a robust strategy for sustainability. The costs of inaction are immense, but the benefits of a successful transition are national prosperity, stability, and a dignified future for all Namibians,” Uanguta said.
Caption
The Bank of Namibia, together with key partners, launched the Namibia Sustainable Finance Alliance.
- Photo: Bank of Namibia
