The Bank of Namibia (BoN) Governor Mr Ebson Uanguta had an engagement with leaders of political institutions, economic and financial institutions, and local business people in Oshana region, at a meeting meant to provide an overview of the mandate of the Bank and discuss related matters.
Although the meeting, taking place in Oshakati on 23 July 2026, was meant for anyone from the four northern regions of Omusati, Ohangwena and Oshikoto, it was mostly attended by people from Oshana.
The Governor was in Oshakati with the Bank of Namibia Deputy Governor Mr Nicholas Mukasa and other senior officials to make a routine visit to the Oshakati branch of BoN, and he saw it fitting to meet up and engage with the stakeholders in the north.
The meeting started with a presentation by Mr Uanguta, of the Bank’s mandate and role in the economy, as well as giving a snapshot of the economic forecast for the near future domestically and globally.
Representing the Regional Governor of Oshana was Mr Abner Shikongo the Regional Councillor for Oshakati East and a Member of Parliament, who welcomed the delegation of the Bank of Namibia and everyone who attended the meeting.
“The mandate of the Bank of Namibia is to provide monetary stability and safeguard financial stability,” Mr Uanguta explained, adding that looking at the average inflation rate and the economic situation of the country the Bank has been carrying out its mandate successfully.
Other responsibilities of the Bank of Namibia include the responsibility to bank the money of the government, to advice government on financial matters, and to improve and manage the country’s foreign currency reserves.
Mr Uanguta explained that foreign reserves are important because that is the money used to pay for goods imported from other countries.
“At this moment we have N$51,6 billion in our reserves, meaning that if for whatever reason we are unable to get more foreign currency we will be able to import for all our needs for the next 3,6 months,” Mr Uanguta said.
The Bank of Namibia Governor however stated that Namibia has to do more to improve its balance of trade.
“Countries with a good trade balance are such as China and others which export more than they import,” Mr Uanguta said. “With the discovery of oil I hope that one day we will be able to run a trade surplus.”
The Governor’s presentation was followed by question-and-answer engagements with the people.
The meeting was also introduced to “WayaMe”.
WayaMe is a national initiative aimed at transforming access to financial services by enabling fast, affordable, and secure payments for all Namibians.
“With ‘WayaMe’ money you don’t need to go to the ATM, but just go to the shop which is on the system and you shop for your groceries by swiping your phone.”
In closing remarks, Bank of Namibia’s Oshakati branch manager Mr John Amakali thanked everyone for the lively spirit of engagement with the Bank’s Governor.
In the photo: Bank of Namibia Governor Mr Ebson Uanguta engaging with Oshana stakeholders.
