Bank of Namibia Governor Johannes !Gawaxab announced he will step down by the end of December 2025, having fulfilled his mandate and leaving the central bank in a stable and sustainable position for his successor.
The Bank of Namibia's Governor Johannes !Gawaxab's final day of service will be on the 31st of December 2025.
His departure from the Central Bank was announced by the Board today.
Namibia has repaid the country's second Eurobond, valued at US$750 million, marking the largest single debt maturity in Namibia's history.
Despite the ongoing rise of digital payment solutions, cash remains significant – both as a payment method and as a safety net in the event of digital disruptions.
The Governor of the Bank of Namibia, Johannes !Gawaxab, remarked this at the launch of new upgraded banknotes and coins in Mariental.
President Netumbo Nandi-Ndaitwah says the upgraded banknotes and coinage series align with the recently unveiled sixth National Development Plan (NDP6).
Dr. Nandi-Ndaitwah launched the upgraded series of banknotes and coinage in circulation, a first since 1993.
Managing climate-induced inflation requires a fine balancing act, especially when coupled with high unemployment and weak economic conditions, Bank of Namibia Governor Johannes !Gawaxab has said.
Inflation has slowed to an average of 4.8% during the first seven months of 2024, down from 6.2% in the same period last year.
This has enhanced consumers's purchasing power and contributed to more stable prices.
The Bank of Namibia plans to launch an upgraded Namibian currency series in 2025.
Namibia can draw lessons from other oil-producing economies as the country positions itself to ensure a sustainable future.
The country is expected to be among the top 15 oil producers in Africa by 2035, should it stay clear of corrupt practices and mismanagement of natural resources.
The Impact Tank recently celebrated three years of honouring indigenous heritage.
