!Gawaxab gets 18-month run as BoN Governor

By Hilary Mare

PRESIDENT Hage Geingob this week appointment Johannes !Gawaxab as the substantive Governor of the Bank of Namibia (BoN) replacing a newly appointed Finance Minister, Ipumbu Shiimi.

Effective on the first of June 2020, the appointment is until December 2021.

Making the appointment in accordance with article 32 (4) (b) (bb) of the Constitution, read together with section 4 (3) of the Bank of Namibia Act, No. 15 of 1997, Geingob noted that the Bank of Namibia performs pivotal functions in the economic development of Namibia through the promotion and maintenance of a sound and stable monetary policies, credit and financial structure and in sustaining the liquidity, solvency and functioning of the financial services system.

“Mr !Gawaxab, you are a well-known business executive with more than twenty-seven years experience in the financial services sector, not only in Namibia, but in Africa. Therefore, your experience and expertise are being called upon to deliver on the mandate of the Bank. I expect you to lead the activities of the Bank with objectivity, technical expertise and to continue to enhance the reputation and credibility of the Bank.

“I understand that there is a strong team at the Bank, and as the leader, you are expected to leverage that expertise, and to bring the best out of them in the best interests of Namibia. I have confidence in your abilities to execute the demanding tasks before you. I congratulate you on your appointment and appreciate your willingness to bring your talents and experience of the financial services sector towards our tireless efforts in building a “united, Inclusive and prosperous Namibian house,” said Geingob while making the appointment.

!Gawaxab is Chairman of Namibia’s Presidential Economic Advisory Council, chairman of Hollard Insurance Company Namibia , chairman of Old Mutual Holdings Zimbabwe and chairman of Eos Capital Namibia.

“Mr !Gawaxab, I hope you will work closely with the Minister of Finance. I rely on you to render him the necessary support. I also urge the management of the Bank to welcome their new Governor with openness and render him the necessary support. In this regard, I am happy to say thank you to Mr Uanguta, the Deputy Governor. By expressing your willingness to give full support to the incoming Governor, you have demonstrated that you are a true patriot. I trust that you will work together well,” further said Geingob.