Retired Old Mutual Africa managing director and now Eos Capital executive chairman Johannes !Gawaxab is now the Bank of Namibia governor.
!Gawaxab takes over from Ipumbu Shiimi who was appointed the finance minister in March. President Hage Geingob announced !Gawaxab’s appointment on Tuesday at State House in Windhoek.
Geingob said he was appointing !Gawaxab to complete Shiimi’s term that still has 18 months. According to Geingob, !Gawaxab will start serving his term on 1 June 2020 until next year in December.
“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,” Geingob said.
Geingob also said he has confidence in !Gawaxab’s abilities to execute the demanding tasks before him.
“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”.
See full statement below
I called this Press Conference to announce the appointment of the Governor of the Bank of Namibia, effective 1st June 2020. As you know, the former Governor is now the Minister of Finance.
The Bank of Namibia performs pivotal functions in the economic development of Namibia through the promotion and maintenance of a sound and stable monetary policy, credit and financial
structure and in sustaining the liquidity, solvency, and functioning of the financial services system. In addition, the Bank of Namibia serves as the Government’s banker, financial advisor, and fiscal agent.
Given these important functions of the Bank, it is vital that in the selection of the Governor, due consideration is given to relevant expertise and experience.
Therefore, having considered the above, by virtue of the powers vested in me by Article 32 (4) (b) (bb) of the Constitution, read together with section 4 (3) of the Bank of Namibia Act, No. 15 of 1997, I have appointed Mr Johannes !Gawaxab as the Governor of the Bank of Namibia for an initial period of eighteen months effective June 01, 2020 to December 31, 2021 to complete the unexpired term of the former Governor as required by the Bank of Namibia Act.
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”.
I take this opportunity to thank Comrade Shiimi, the former Governor, for his contribution towards building a professional team and an admirable institution of high standing.
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.
