Three Bank of Namibia executives shortlisted for deputy governor as Nicholas Mukasa allegedly emerges as front runner

Three Bank of Namibia (BoN) executives are locked in a race to become the central bank’s next deputy governor.

They are Nicholas Mukasa, Florette Nakusera and Emma Haiyambo.

Mukasa, a chartered financial analyst, is currently a director of financial markets and has said to be leading the race after more than 10 years at the bank.

Haiyambo is a chief economist and director of research and financial sector development, and has been with the organisation for 15 years.

Sources have named Nakusera, a financial stability and macroprudential oversight director, as another candidate.

The BoN has two deputy governors, with Leonie Dunn continuing to serve as one.

The position that has become vacant is that of Ebson Uanguta, who served as deputy governor before he was appointed as central bank governor.

Dunn also serves as an executive member of the BoN board, playing a pivotal leadership role within the institution.

Although the bank has not publicly named the deputy governor candidates, its spokesperson, Kazembire Zemburuka, has confirmed that the recruitment process has started.

“The bank underscores that the process for appointing the deputy governor has been initiated by the appointing authority in accordance with Section 19 of the Bank of Namibia Act of 2020,” he says.

Sources say the process is at an advanced stage, with Mukasa emerging as the front runner.

Following an internal selection process in which Mukasa, Nakusera and Haiyambo were shortlisted, BoN governor and board chairperson Ebson Uanguta is understood to have preferred Mukasa, the sources claim.

Mukasa and Haiyambo were subsequently recommended to the Public Service Commission (PSC), which is said to have submitted Mukasa as the top contender for appointment.

Zemburuka has declined to comment on individual candidates or recommendations.

“While I cannot comment . . . the bank emphasises that the selection process of appointing the deputy governor rigorously adheres to the procedures outlined in the act, including the qualifying criteria for such candidates.

“This commitment to a credible appointment process reflects the appointing authority’s dedication to maintaining the highest standards of governance, thereby reinforcing the central bank’s reputation as a well-governed and accountable institution,” he says.

Presidential spokesperson Jonas Mbambo yesterday said recommendations for such appointments are submitted through the appropriate channels, including the PSC, which advises the president in accordance with the relevant legal and administrative frameworks.

“Once the due processes have been concluded and any formal decisions have been made, the Presidency will communicate through the appropriate official channels.

“At this stage, we are not aware of the specific matters you are referring to, and it would be quite unusual for the Presidency to comment on a process that is still ongoing,” he says.

The deputy governor acts as a key executive, assisting the governor in formulating monetary policy, safeguarding financial stability and overseeing the central bank’s operations.

Haiyambo and Nakusera did not respond to questions sent to them yesterday.
Mukasa referred questions to Zemburuka.

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