BoN committed to price stability

Bank of Namibia governor Johannes !Gawaxab says the central bank is committed to maintaining price stability amid inflation.

!Gawaxab says Namibia’s inflation rates rose from 2,2% in 2020 to 6,1% in 2022, and 5,9% in 2023.

This was said during the Cirrus Investor Conference at Swakopmund on Tuesday.

!Gawaxab added that the bank is working to modernise the financial system.

This includes initiatives like the Instant Payment Solution, the Central Securities Depository, and the exploration of Central Bank Digital Currencies.

These initiatives aim to make financial transactions faster, easier, and more accessible for everyone, especially those in rural and informal sectors, by enabling instant and secure transactions without the need for physical travel or costly intermediaries.

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