Central Bank Governors recently met in Windhoek for a quarterly meeting aimed at addressing pressing regional and economic issues to reinforce collaboration within the Common Monetary Area.

The Common Monetary Area Central Bank Governors held a meeting in Namibia to strengthen economic resilience and integration and further find common ground on matters of the economy. 

The meeting was attended by governors from the South African Reserve Bank, the Central Bank of Lesotho, the Central Bank of Eswatini, as well as the Bank of Namibia.

One of the key areas of discussion was the integration of cross-border payment systems, aimed at reducing friction that currently hinders speed, increases costs, and reduces the customer experience.

The governors further emphasised the need for reasonable and inclusive access that ensures that all stakeholders benefit from seamless cross-border payment capabilities.

The meeting also looked at collaboration with international development partners such as the International Monetary Fund, the IMF, and the World Bank for technical assistance and support to address persistent payment system challenges, among others.

On the agenda was also a discussion on crisis management frameworks that strengthen preparedness for economic and financial crises across member states.

The meeting laid the groundwork for advancing the Common Monetary Area's shared vision of a stable and prosperous subregion.

Through collaborative initiatives and shared expertise, the CMA continues to champion innovation and resilience to ensure its economic support and sustainable development.