The Bank of Namibia (BoN) is the
central bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...
of
Namibia
Namibia, officially the Republic of Namibia, is a country on the west coast of Southern Africa. Its borders include the Atlantic Ocean to the west, Angola and Zambia to the north, Botswana to the east and South Africa to the south; in the no ...
, whose establishment is enshrined in Article 128 of the
Namibian Constitution. It is located in the capital city of
Windhoek
Windhoek (; ; ) is the capital and largest city of Namibia. It is located in central Namibia in the Khomas Highland plateau area, at around above sea level, almost exactly at the country's geographical centre. The population of Windhoek, which ...
. The Bank of Namibia was established in 1990 by the ''Bank of Namibia Act, 1990'' (Act 8 of 1990). The Bank of Namibia is the only institution that is permitted to issue the
Namibian dollar
The Namibia dollar (currency symbol, symbol: $ or N$; ISO 4217, code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign ($), or alternatively N$ to distinguish it from other currencies called “d ...
by authority that has been given to it under an Act of the
Namibian Parliament. The head of the Bank of Namibia is the
Governor of the Bank of Namibia.
Governors
The Governors to date have been:
* Wouter Benard (16 June 1990 - 31 August 1991)
*
Erik Lennart Karlsson (1 September 1991 - 31 December 1993)
* Jaafar bin Ahmad (1 January 1994 - 31 December 1996)
*
Tom Alweendo (1 January 1997 - 25 March 2010)
*
Ipumbu Shiimi (25 March 2010 - 1 June 2020)
*
Johannes !Gawaxab (1 June 2020 - present)
The bank is engaged in policies to promote
financial inclusion
Financial inclusion is the availability and equality of opportunities to access financial services. It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which ...
and is a member of the
Alliance for Financial Inclusion
The Alliance for Financial Inclusion (AFI) is a policy leadership alliance owned and led by member central banks and financial regulatory in developing countries with the objective of advancing financial inclusion.
As of February 2025, AFI had 9 ...
. On March 5, 2012, the Bank of Namibia announced it would be making specific commitments to financial inclusion under the
Maya Declaration.
In May 2024, Bank of Namibia and NPCI International Payments Ltd. (NIPL), the international arm of India's
National Payments Corporation of India (NPCI) collaborated on Instant Payment System Implementation inspired by India's
Unified Payment Interface (UPI).
See also
*
Namibian dollar
The Namibia dollar (currency symbol, symbol: $ or N$; ISO 4217, code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign ($), or alternatively N$ to distinguish it from other currencies called “d ...
*
Economy of Namibia
The economy of Namibia has a modern market sector, which produces most of the country's wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than ...
*
List of central banks of Africa
There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of both ...
*
List of central banks
This is a list of central banks.
Central banks by alphabetical order
This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*).
Major central banks by currency allocation p ...
References
External links
*
{{authority control
Government-owned companies of Namibia
Namibia
Namibia, officially the Republic of Namibia, is a country on the west coast of Southern Africa. Its borders include the Atlantic Ocean to the west, Angola and Zambia to the north, Botswana to the east and South Africa to the south; in the no ...
Banks established in 1990
Banks of Namibia
Companies based in Windhoek
Namibian companies established in 1990