TIRI MASAWI
Bank of Namibia Governor Johannes !Gawaxab will leave his position at the end of December.
Gawaxab is the sixth Governor of the Bank of Namibia.
A statement released by the bank’s board of directors on Wednesday confirmed his departure and credited him for his role in maintaining macroeconomic stability through discipline and a credible monetary policy.
“Inflation remained well-contained, averaging 3.6% in the first eight months of 2025, down from 4.6 percent over the same period in 2024. During the tightening cycle, the Bank raised the repo rate by a cumulative 400 basis points between February 2022 and June 2023. The consistent application of monetary policy has contributed significantly to the moderation of inflation, creating space for gradual easing this year to support the domestic economy,” the central bank said.
The central bank said !Gawaxab played a central role in safeguarding Namibia’s financial credibility on the global stage.
“In October 2025, he led the Bank’s support to the Government in successfully redeeming its USD 750 million Eurobond in full and on time. This achievement sent a powerful signal to markets and investors that Namibia honours its commitments transparently and reliably, thereby strengthening sovereign credibility and investor confidence,” said the apex bank.
Bank of Namibia added that !Gawaxab’s long-term vision is equally reflected in the establishment and strong performance of the Welwitschia Fund, Namibia’s Sovereign Wealth Fund.
“Seeded with N$270 million in 2022, the Fund has grown substantially through investment returns alone, reaching US$ 27.7 million, or approximately N$479 million, by September 2025.
“The Fund now stands as an important mechanism for intergenerational wealth creation and long-term economic stability,” the bank said.
!Gawaxab was also a prominent advocate for financial inclusion, the bank said. “Under his leadership, the Bank has undertaken the most ambitious digitalisation
project, including the soon-to-be-launched Fast Payment System, with an ambitious target of expanding access to digital financial services, especially for rural and informal communities,” the central bank said.
They added that his tenure was characterised by notable contributions to the institution, including diversifying reserves to encompass gold, upgrading banknotes, introducing new coinage series, and modernising the financial system through the launch of the Central Security Depository and Retail Bonds.
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