By Victor Angula |
Namibia so far has as much as 200 kilograms of gold in its reserves.
This was said by Bank of Namibia Governor Mr Ebson Uanguta as he addressed a meeting of Oshana regional stakeholders at Oshakati last night.
“Globally, gold has emerged as a critical reserve asset valued for its stability and ability to act as a hedge against systemic shocks,” Mr Uanguta said.
“The Bank has developed a structured acquisition framework grounded in international best practice and supported by engagements with peer central banks.
“So far we have bought 200 kilograms of gold,” he said. “We are buying to hold on to it. We are going to benefit in the long-run.
“Gold will be sourced directly from domestic producers and refined through the London Bullion Market Association accredited facilities.”
The Governor of the Bank of Namibia also said that as of April 2026 the Welwitschia Sovereign Fund has grown by 6%.
“The US$15 million we had put in is now worth some N$511 million. The purpose of the sovereign fund is to reserve money coming from depletable natural resources, for future generations to benefit.”
In the photo: BoN Governor Ebson Uanguta answering questions at a stakeholders engagement in Oshana.
