The Bank of Namibia recently hosted a high-level delegation from the Deutsche Bundesbank for a three-day working visit, aimed at strengthening bilateral cooperation and fostering dialogue on matters of mutual interest between Namibia and Germany.
The delegation was led by Mr. Burkhard Balz and Mr. Martin Theurer, both members of the Executive Board of the Deutsche Bundesbank (German Federal Bank), accompanied by other senior officials.
The visit provided a platform for engagement between the Bundesbank delegation and key Namibian stakeholders, including the Office of the President, Parliament, the Ministry of Finance, the National Planning Commission and the European Union.
The discussions centred around economic and financial cooperation, global economic developments and evolving challenges in the financial sector.
As part of the visit, Mr. Martin Theurer delivered a thought-provoking lecture titled “Rising Challenges in the Banking Industry”.
During the lecture, Mr. Theurer provided in-depth insights into how geopolitical tensions, digital transformation and climate change are reshaping the global banking industry.
Mr. Theurer highlighted that although Namibia and Germany have distinct domestic challenges, they also face shared global issues that demand coordinated solutions.
He further urged financial institutions to proactively manage geopolitical and geoeconomic risks, cautioning that the short-term gains from regulatory rollbacks would be far outweighed by long-term instability.
In addition to the discussions on banking challenges, Mr. Burkhard Balz delivered a lecture titled “The Impact of the Digital Euro on the Financial Sector”, which was attended by key stakeholders from Namibia’s financial sector.
Mr. Balz shared insights into the ongoing development of Europe’s central bank digital currency (CBDC) and its potential implications for the global financial ecosystem, including African economies.
In June 2022, the Bank of Namibia and the Deutsche Bundesbank signed a Memorandum of Agreement that ushered in a new era of collaboration. This agreement underscored shared objectives in advancing training, technical assistance and benchmarking in key areas of central bank competence.
Since then, the two central banks have worked closely to identify and pursue new areas of cooperation, including digital transformation and innovation, macroeconomic research and modelling, digital currencies and sustainability.
Through these bilateral engagements, the Bank of Namibia and the Deutsche Bundesbank look forward to continued collaboration to strengthen financial stability, enhance regulatory frameworks and promote economic resilience in Namibia.
“The Bank of Namibia values the enduring partnership with the Deutsche Bundesbank and remains committed to fostering meaningful cooperation in pursuit of financial stability,” said Bank of Namibia in a statement.
“This high level engagement has reinforced the importance of collaboration in addressing global financial challenges and seizing opportunities for sustainable growth.”
Moving forward, both institutions will continue to exchange expertise, strengthen regulatory frameworks and explore innovative solutions to navigate an evolving economic landscape.
– In the photo: Bank of Namibia top officials and Deutsche Bundesbank top officials during the recent visit by the German delegation.
