Staff Reporter
THE Prime Minister, Dr Tjitunga Elijah Ngurare, has urged financial institutions to engage in constructive, respectful dialogue that preserves individuals’ dignity and helps minimise the risk of severe consequences such as home repossession.
“There are circumstances beyond people’s control, and when a home is repossessed, children can never erase the memories tied to that house. Let us have a conversation, as Namibians and as financial institutions, that places humanity above all else,” the Prime Minister said.
He made these remarks during a recent meeting with the Bank of Namibia (BoN), during which he encouraged financial institutions to engage in constructive dialogue that prioritises dignity, while reaffirming that such efforts are not an intrusion on institutional mandates but rather a reflection of shared national responsibility.
Ngurare commended the Bank for its clear strategic direction and commitment to innovation, noting that institutions such as the Bank of Namibia play a pivotal role in advancing national development priorities under the Sixth National Development Plan (NDP6). He also reaffirmed the Government’s support, expressing confidence in the Bank’s ability to navigate current economic dynamics while proactively shaping the future of Namibia’s financial system.
“As we advance the Sixth National Development Plan (NDP6), we are collectively called upon to pursue a path of growth that is inclusive and resilient, and transformation that is both meaningful and sustainable. These objectives cannot be realised in the absence of strong institutions—institutions that are credible, consistent in their conduct, and forward-looking in their approach. The Bank of Namibia is, without question, one such institution,” Ngurare said.
The Prime Minister highlighted the importance of legislative consideration, particularly in addressing youth-related financial challenges, and called on Namibians to embrace unity, mutual appreciation and collective effort as the country approaches Independence Day.
During the engagement, the Governor of the Bank of Namibia, Ebson Uanguta, outlined the Bank’s core mandate of promoting monetary and financial stability, while highlighting its forward-looking vision of aligning the central bank with the demands of a new and increasingly digital economy.
“The engagement detailed the Bank’s innovation journey, including ongoing digital transformation initiatives, the development of data and artificial intelligence capabilities, and efforts to strengthen the Bank as a knowledge-driven institution. Key national initiatives were also highlighted, including the development of the Instant Payment Platform (IPP), currently underway and expected to significantly enhance access to fast, affordable and secure financial services, as well as the advancement of Digital Public Infrastructure (DPI) to support a modern, inclusive economy. These initiatives are central to improving service delivery, expanding financial inclusion, and enabling greater participation of households, entrepreneurs and small businesses in the economy,” Naufiku Hamunime, BoN’s Deputy Director of Corporate Communications and Sustainability, explained.
Photos: Bank of Namibia.
