29
Jul
When Bank of Namibia Governor Johannes !Gawaxab recently admitted that local ownership and control in our financial sector has reached only 20% against a 25% target set a decade ago, he was not merely stating a statistic, he was laying bare an uncomfortable truth. Namibia’s financial services sector, the backbone of any modern economy, remains far too dependent on and beholden to foreign capital and interests. For ten years, we have tinkered at the edges of transformation. We have introduced localisation quotas, promoted local talent into top management, and celebrated the listing of banks on our stock exchange. Yet beneath this…