Bank of Namibia Governor Links Climate Risk and Financial Stability at National Workshop

Bank of Namibia Governor Links Climate Risk and Financial Stability at National Workshop. The Governor of the Bank of Namibia, Mr Ebson Uanguta, addressed stakeholders in Windhoek at a workshop focused on environmental stewardship and gender mainstreaming as part of efforts to strengthen resilience to shocks and disasters.

Speaking during the session, Governor Uanguta outlined how climate change, emerging technologies such as artificial intelligence, and broader global uncertainty are influencing Namibia’s economic and financial environment. He noted that the country is facing more frequent shocks, including droughts, floods, and heatwaves, which are placing pressure on sectors such as agriculture, fishing, and finance.

He stressed that these developments underline the need for a stable and resilient financial system capable of supporting sustainable economic growth, particularly in the face of environmental and economic disruptions.

Governor Uanguta said climate change is increasingly recognised as a risk to macroeconomic stability and long-term development. In response, he explained that the Bank of Namibia is strengthening financial sector oversight, improving its analysis of climate-related risks, enhancing crisis preparedness, and advancing work related to sustainability. He also highlighted efforts to promote inclusive and climate-resilient finance within the financial system.

Addressing the social dimension of resilience, the Governor noted that environmental and economic shocks do not affect all groups equally. He pointed out that women and vulnerable communities are often among the hardest hit, making gender mainstreaming an important component of strategies aimed at building economic resilience.

The workshop was officially opened by the Right Honourable Dr Elijah Ngurare, Prime Minister of the Republic of Namibia. It was organised by the Ministry of Environment, Forestry and Tourism and brought together stakeholders to discuss approaches to strengthening national resilience to environmental and economic shocks.