!Gawaxab marks 100 days in office as BoN governor

Bank of Namibia Governor Johannes !Gawaxab has said his first 100 days in office have been humbling but did yield accomplishments that are focused on ensuring longer term success.
A statement issued after a media event to mark his first 100 days in office on Thursday said !Gawaxab took over the leadership role at the bank at a time when the world and Namibia have been hit by the deadly Coronavirus, with its devastating impact on the economy. The governor has since his appointment had extensive stakeholder engagements aimed at building a bridge between the bank and its constituencies.
“I experienced first-hand the resilience of the Namibian people who must face this situation daily, while the pandemic dominates without a clear ending, and who selflessly strive to save lives and the livelihoods of their compatriots,” !Gawaxab said.
He added that he assumed duty with a clear 100-day plan which revolved around three key themes, namely introducing himself and aligning expectations with key stakeholders; crafting a strategic agenda and communicating and starting the execution of the plan.
Despite the current economic challenges, the 100-day plan yielded accomplishments that are preparatory and focused on ensuring longer term successes.
“In view of this, I had extensive stakeholder engagements aimed at building a bridge between the bank and its constituencies, collecting intelligence relating to activities of the monetary policy committee, the financial stability mandate of the bank and operations of the economy in general. In this regard, I met with the top leadership of the Namibia Chamber of Commerce and Industry, Chamber of Mines, the National Union of Namibian Workers, managing directors of diamond mines and diamond sales, marketing and trading companies,” he said.
As leader of a regulating entity, !Gawaxab also visited all systemically important financial institutions, not only limited to commercial banks.
Additionally, the governor attended two Monetary Policy Committee meetings, chairing the last one where the committee decided to cut interest rates by 25 basis points.
“The possibility to help reform the Namibian financial system to be ready for the 21st century and modernising the operations of the bank add to the challenge and to my desire to leave the bank and the country in a better position than the one we are in now,” he said.
!Gawaxab assumed duty as Governor on 02 June 2020, following his appointment by President Hage Geingob on 21 April 2020.
Source: Namibia Press Agency