Bank of Namibia and Deputy Prime Minister Reaffirm Commitment to Industrialisation and Economic Resilience

Bank of Namibia and Deputy Prime Minister Reaffirm Commitment to Industrialisation and Economic Resilience. The Bank of Namibia, led by Governor Johannes !Gawaxab, hosted a courtesy visit on Tuesday afternoon from the Deputy Prime Minister and Minister of Industrialisation, Mines and Energy, Hon. Natangwe Ithete, for high-level discussions focused on Namibia’s industrialisation drive.

The visit centred on key national priorities including job creation, investment stimulation, and value addition across all sectors—core components of Namibia’s long-term development vision. Deputy Prime Minister Ithete stressed the importance of ensuring that both large industries and small enterprises are empowered to contribute meaningfully to economic growth.

In response, the Bank of Namibia reiterated its support for the country’s industrialisation agenda and shared progress on initiatives outlined in the 2023 Memorandum of Understanding (MoU) between the Bank and the Ministry. These include data-sharing partnerships, capacity building efforts, and targeted focus on emerging sectors such as oil and gas.

The Governor also provided an update on the performance of the Welwitschia Sovereign Wealth Fund, Namibia’s national investment vehicle, and noted the Bank’s ongoing assessment of acquiring gold reserves as a strategy to enhance the country’s long-term economic resilience.

Both institutions reaffirmed their shared vision of inclusive growth and sustainable economic transformation, highlighting the value of coordinated policy implementation and private sector collaboration.

This strategic partnership reflects growing alignment between fiscal, monetary, and industrial policies aimed at positioning Namibia as a competitive and resilient economy.