Market Watch

BoN, SARB deepen collaboration

14 hours ago - 2026-03-04 12:53:40

The governor of the Bank of Namibia (BoN), Ebson Uanguta, and the governor of the South African Reserve Bank (SARB), Lesetja Kganyago, this week signed a revised Memorandum of Understanding (MoU) in Pretoria, South Africa.

The updated MoU replaces the previous agreement concluded on 11 September 2015. It reflects the evolving financial sector landscape in both jurisdictions, including strengthened supervisory mandates, enhanced resolution frameworks, and the increasing complexity of cross-border financial institutions operating in Namibia and South Africa. The agreement acknowledges the strong interlinkages between the two countries’ financial markets and economies.

The MoU establishes a formal framework for cooperation in central banking, supervision, regulation, and the resolution planning of financial institutions and groups with cross-border operations.

Key areas of cooperation include strengthening regional integration, enhancing coordination between monetary and fiscal authorities, promoting cross-border collaboration to safeguard financial stability, and supporting capacity-building initiatives.

The agreement is designed to reinforce cross-border supervisory coordination, improve crisis preparedness, and protect depositors while maintaining financial stability in both jurisdictions.

It underscores the commitment of both central banks to sustaining confidence in the regional financial system through structured engagement and policy alignment. The MoU does not create binding legal obligations and does not limit the statutory independence of either institution.

In his remarks, Uanguta said the signing of the MoU reflects the enduring and constructive relationship between the two central banks, rooted in shared history, regional integration, and a common commitment to monetary and financial stability.

“In an increasingly complex global environment marked by digital transformation and emerging risks, regional cooperation is essential to strengthening resilience and safeguarding financial stability,” he said.