PRETORIA, Mar 5 – The Bank of Namibia and the South African Reserve Bank have taken another step to strengthen financial cooperation, following the signing of a revised Memorandum of Understanding in Pretoria.
The agreement was formalised during a visit by Namibia’s central bank governor, Ebson Uanguta, to South Africa, where he met with his counterpart, Lesetja Kganyago. The updated framework reflects changes in how financial systems operate across both countries, particularly as cross border banking activity becomes more connected.
At its core, the MoU sets out clearer guidelines for supervision and coordination between the two regulators. It also introduces updated approaches to managing financial risks and resolving potential disruptions involving institutions that operate in both markets. This comes at a time when regional financial systems are becoming more integrated, requiring closer alignment between regulators.
Uanguta noted that the agreement builds on an existing relationship shaped by shared economic interests and long standing cooperation within the Southern African region. The renewed focus is on maintaining stability while adapting to a more complex financial environment.
For both countries, the move signals a steady approach to safeguarding their banking systems while supporting regional financial integration.
