Namibia’s financial system is healthy, says central bank governor

The governor of the Bank of Namibia, Johannes !Gawaxab, has described Namibia’s financial system as healthy amid persistent inflation.

!Gawaxab said this in the bank’s financial stability report in Windhoek on Tuesday.

According to !Gawaxab, the financial system has been operating efficiently, although there are challenges in the economic environment.

He said globally there is a trend of persistent inflation, which makes it difficult for policymakers.

“However, despite this, there is a sense of optimism,” said !Gawaxab.

He added that the bank and the Namibia Financial Institutions Supervisory Authority (Namfisa) will continue to work to ensure a favourable environment for both financial institutions and consumers.

“Our aim is to create a platform where providers and consumers of financial products and services can find each other and do business in a regulated, safe and stable environment,” said !Gawaxab.