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History of the Bank


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The Bank of Namibia (BoN) was established in accordance with a provision in the Constitution of the Republic of Namibia, Chapter 17, Article 128 as amended by Namibian Constitution Third Amendment Act, 2014 (Act No. 8 of 2014).

The Article states:

There shall be established by Act of Parliament a Central Bank of the Republic of Namibia which shall serve as the State’s principal instrument to control the money supply, the currency and banking institutions and any other financial institutions that may be placed under the supervision of the Central Bank by Act of Parliament, and to perform all other functions ordinarily performed by a central bank.

The Governing Board of the Central Bank shall consist of a Governor, Deputy- Governors and such other members of the Board as shall be prescribed by Act of Parliament, and all members of the Board shall be appointed by the President in accordance with procedures prescribed by such Act of Parliament.

Nothing in this Constitution is construed as to prevent the enactment of any law or as effecting the validity of any law assigning the regulation of institutions that perform financial services to any member of the public by a body other than the Central Bank.

 Previous Governors of the Bank of Namibia
  Name Nationality Position Held Beginning End
Dr WL Bernard Dutch Governor 16/07/1990 31/08/1991
Mr E Karlsson Swedish Deputy Governor 16/07/1990 31/08/1991
Acting Governor 01/09/1991 30/04/1992
Governor 25/11/1992 31/12/1993
Dr J Ahmad Malaysian Governor 16/07/1990 31/08/1991
Mr TK Alweendo Namibian Deputy Governor 01/01/1993 31/12/1996
Governor 01/01/1997 25/03/2010
  Mr LS Ipangelwa Namibian Deputy Governor 01/01/1997 30/07/2002
  Mr P Hartmann Namibian Deputy Governor 01/08/2002 30/12/2011
IW Shiimi Namibian Governor 25/03/2010 21/03/2020
J !Gawaxab Namibian Governor 21/04/2020 To Date
E Uanguta Namibian Deputy Governor 01/01/2012 To Date
L Dunn Namibian Deputy Governor 03/12/2021 To Date
 Bank of Namibia 30th Anniversary Documentary
 BON 20 Year Anniversary Book
Annual Report - 2021
BON 20 Year Anniversary Book
Document Size: 14,4 MB
 Download PDF
Annual Report - 2021
BoN Heritage Week Booklet
Document Size: 2.5 MB
 Download PDF

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