Bank of Namibia Governor Johannes !Gawaxab says that EOS Capital, himself, and the Namibia Competitions Commission (NaCC) reached an agreement to ensure compliance with the set regulatory regulations.

However, the Central Bank Governor pointed out that the agreement is not an admission of guilt but a pragmatic solution to avoid prolonged legal proceedings. 

!Gawaxab was responding to a Namibian Competition Commission (NaCC) decision to fine him, together with two other parties, N$1 million for contravening merger regulations.

The Bank of Namibia (BoN) has declared a dividend of more than half a billion dollars.

This underscores a major improvement in the central bank's performance for the past financial year compared to that of the previous financial year, representing an increase of almost N$100 million.

During the previous financial year, the bank distributed a dividend of N$413.7 million.

BoN's 2023 annual report, prepared in line with the Bank of Namibia Act, shows that the central bank declared a dividend of N$511.5 million to its main and only shareholder, the government.

In a move to support sustainable economic growth and combat climate change, the Bank of Namibia has officially become a member of the Network for Greening the Financial System (NGFS).

This network, composed of central banks and financial supervisors, aims to promote environmentally responsible management within the financial sector.

As of December 2023, the Bank of Namibia (BoN) was inducted as a plenary member, standing alongside 134 other members and 21 observers, to foster a collective response to meet the Paris Agreement's objectives.

The Bank of Namibia (BoN) is worried about the risks posed to the positive economic outlook by challenges such as water supply disruptions, looming droughts, and infrastructure constraints.

The central bank's top management, led by Governor Johannes !Gawaxab, flagged this during a courtesy call on President Hage Geingob at State House.

Although economic activity improved during the first four months of 2023, challenges including water supply disruption, a looming drought, and infrastructure constraints could impact future projections.