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Management of the Bank of Namibia

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Management Committee

Note:
Management Committee (MC)
Monetary Policy Committee (MPC)
   
 
Mr. J. !Gawaxab
Governor
MC member
MPC member
Profile
 

Mr. E. Uanguta
Deputy Governor
MC member
MPC member
Profile
 
Ms. L. Dunn
Deputy Governor
MC member
MPC member
Profile

Ms. F Nakusera
Director
Financial Stability
and Macroprudential Oversight
MC member
MPC member
Profile

Mr. R. Nel
Director
Banking Supervision
MC member
Profile

Mr. N. Mukasa
Director
Financial Markets
MC member
MPC member
Profile

Mr. G. Eiman
Acting Director
Financial Intelligence
Centre
MC member
Profile

Ms. L. Namoloh
Director
Human Resources
MC member
Profile
 

Dr. E. Haiyambo
Director
Research and Financial Sector Development
MC member
MPC member
Profile

Ms. B. Dreyer-Omoregie
Director
National Payment
System Department
MC member
Profile

Ms. M. Tjongarero
Head of Risk
Management & Assurance
MC member
Profile

Mr. M. Ickua
Director
Information Technology
MC member
Profile

Ms. Sencia Kaizemi-Rukata
Director
Banking Services
MC member
Profile

Ms. J. Iiyambula
Director
Finance & Administration
MC member
Profile

Mr. B. Eiseb
Director
Exchange Control and Legal Services
MC member
Profile

Mr. K. Zemburuka
Director
Strategic Communications
MC member
Profile
   
     

 


Johanna Iiyambula
Director: Finance & Administration,
Bank of Namibia



Qualifications:

  • Bachelor of Accounting (UNAM)
  • BCompt (Honours) CTA (UNISA)
  • Qualified Chartered Accountant (ICAN & SAICA)
  • Management Development Programme (US)
  • International Executive Development Programme (WBS/LBS)

Years of Experience: 21

Expertise:

  • Financial accounting and reporting (International Financial Reporting Standards)
  • Management accounting
  • Financial management
  • Auditing
  • Indirect tax (VAT)



Barbara N. Dreyer-Omoregie
Director: National Payment System Department



Qualifications:

  • MBA (Swiss Management Center University)
  • MEd (State University of New York – Buffalo)
  • BA Hons and BEd (UWC)
  • P/G Diploma Social Science Research Methods (US)
  • P/G Diploma Higher Education (UWC)
  • Fellow at the Fletcher School Leadership Program for Financial Inclusion (2013) (Tufts University, Boston, MA)

Years of Experience: 30

Expertise:

  • Payment systems strategy
  • Payment systems risk management
  • Payment systems policy and regulation development and implementation
  • Corporate governance
  • Human resources management strategy
  • Remuneration strategy and organisation development



Emile Van Zyl
Technical Advisor to the Governor,
Bank of Namibia



Qualifications: Mr van Zyl holds a Masters in Commerce (Economics) at the University of Pretoria in 1986 after completion of a Bachelor of Commerce (Economic Sciences) and Bachelor of Commerce (Honours) in Economics in 1983 and 1984 respectively at the same university. In 1987 he completed a course at the University of South Africa in Bank Risk Management and Risk Management for Financial Institutions.


Career and Experience: His career started in 1985 when he was appointed at the South African Ministry of Finance at the Policy Unit as Fiscal Policy Advisor, and later as Personal Assistant to the Director General. In 1988 he accepted the position as Economist at Senbank, a merchant bank in Johannesburg, South Africa, and soon became the Senior Economist, where he was the author of dozens of articles and publications.


In 1992 he joined the ABSA Bank ALCO unit where he was co-responsible for managing the financials risks of the bank. In 1995 he moved to Namibia to join Bank Windhoek where he held various positions, such as Manager: ALCO, Senior Manager: Corporate Banking Services, Senior Manager: Retail Banking Services, Executive Officer: Treasury and International Banking Services, and Principal Officer of the Group’s Unit Trust Management Company. He also acted as the economist during his stay at Bank Windhoek. In 2003 he moved to Simonis Storm Securities where he became the Director of Research, responsible for market and economic research. He left the company at the beginning of 2012 when he joined the Bank of Namibia as Technical Advisor to the Governor.




Sam Shivute
Director: Banking Services,
Bank of Namibia



Qualifications: Mr. SHIVUTE is a graduate of LLM - International Finance and Banking Law (University of Liverpool – UK), LLB (Honours) degree, B Juris degree (Both from the University of Namibia), B.Tech: Policing (Tshwane University of Technology - RSA), and a National Diploma in Police Science (Polytechnic of Namibia). In 2012, he successfully completed an International Executive Development Programme facilitated by London Business School (UK), India Institute of Management Bangalore (India) and Wits Business School (RSA). In 2014, he successfully completed the SCFMP (Small Countries Financial Management Programme) in Isle of Man and at Saiid Business School, Oxford University, UK. Mr. SHIVUTE holds a number of certificate qualifications in the area of crime investigations, security management, UN peacekeeping operations, project management and Leadership.


Career and Experience: Sam SHIVUTE is the Director: Banking Services Department at Bank of Namibia. In that capacity, he is responsible for banking services to the Government of the Republic of Namibia and all commercial banks in Namibia. He is also responsible for all aspects of currency management and the security functions of the Bank. Mr. SHIVUTE is a member of the Bank’s Management Committee and he is also a Trustee of the Bank of Namibia Provident Fund. He has been in the employ of the Bank for a period of 12 years. Prior to his current position he served as a Deputy Director: Protection Services Division for seven years, and Deputy Director: Currency & Banking Division for two years. Prior to joining the Bank, Mr. SHIVUTE served as a Detective in the Namibian Police. Whilst in the Namibian Police, he was seconded to the United Nations Civilian Police (UNTAET) in East Timor between 2000-2002 where he served as an Investigator and subsequently the Deputy Chief: Office of Professional Standards, Audit & Evaluations. From April 2013 to October 2014, he was seconded by the Bank to the Ministry of Finance where he served as Commissioner: Inland Revenue Department.





Marsorry S.T. Ickua
Director: Information Technology,
Bank of Namibia

Qualifications:

  • MSc Information Systems Management (University of Liverpool, UK)
  • Diploma PC Support (Boston City Campus, SA)
  • Diploma Business Computing (SA)
  • Management Development Programme (US)
  • International Executive Development Programme (WBS/LBS

Years of Experience: 21

Expertise:

  • Information technology, strategy and governance
  • Technology innovation
  • Programme management
  • Information technology security management
  • Resource planning and IT risk
  • Disaster recovery and business continuity management



Magreth Riwi Tjongarero
Head: Risk Management and Assurance,
Bank of Namibia



Qualifications:

  • BAcc (UNAM)
  • International Executive Development Programme (WBS/LBS)
  • ISO22301:2012 Business Continuity Management Systems: Lead Implementer

Years of Experience: 21

Expertise:

  • Auditing
  • Credit risk auditing
  • Risk management
  • Business continuity



Dr Emma Haiyambo
Director of Research and Financial Sector Development and Chief Economist



Qualifications:

  • PhD Development Finance (US)
  • MSc Financial Economics (University of London)
  • M International Business (PoN/NUST)
  • P/G Diploma in Financial Economics (University of London )
  • BEcon (UNAM)
  • Diploma in Public Administration (PoN/NUST)
  • Fellow at the Fletcher School Leadership Program for Financial Inclusion (2017), Tufts University, Boston, MA
  • Certified Expert in Financial Inclusion Policy (Frankfurt School of Finance and Management)
  • International Executive Development Programme (WBS/LBS)
  • Management Development Programme (US)

Years of Experience: 25

Expertise:

  • Macroeconomic research and statistics
  • Financial sector development
  • Development finance
  • Project management
  • Strategic planning and management
  • Corporate governance



Lea Namoloh
Director: Human Resources,
Bank of Namibia

Qualifications:

  • MBA (Maastricht University, Netherlands)
  • MEd (UNAM)
  • BEd (Honours), Bristol UK
  • International Executive Development Programme (Wits)
  • Diploma in Teaching English as a Foreign Language, University of Edinburgh
  • Certificate Board of Director (US)


Years of Experience: 28

Expertise:

  • Human resources management
  • Project management
  • Currency management
  • Banking services
  • Strategic leadership
  • Human resources management
  • Project management
  • Currency management
  • Banking services
  • Strategic leadership



Gerrit C. Eiman
Acting Director: Financial Intelligence



Qualifications:

  • B Juris and LLB degrees from the University of Namibia
  • Nat Dip Police Science (PoN/NUST)
  • Senior Management Development Programme (SMDP) (US)

Career and Experience: 32

Expertise:

  • Law Enforcement
  • Legal Practitioner of High Court of Namibia
  • Financial Investigations and Analysis
  • Prosecutorial Support



Ms. L. Dunn
Deputy Governor, Bank of Namibia



Qualifications:

  • LLM (cum laude) (UNICAF University)
  • LLB (US)
  • BA Law (US)
  • Admitted Legal Practitioner of the High Court and the Supreme Court of Namibia
  • Women in Leadership Development USA
  • International Executive Development Programme (WBS/LBS)
  • International Leaders Programme (Her Majesty’s Foreign and Commonwealth Office, UK)

Years of Experience: 23

Expertise:

  • Commercial and criminal law
  • Financial services regulation
  • Financial market integrity
  • Policy and legislative development and implementation
  • Anti-money laundering / counter-terrorism financing / counter-proliferation financing CPF compliance, monitoring, supervision, administrative enforcement and strategic analyses establishment
  • Financial intelligence unit strategic leadership



Nicholas Mukasa
Director: Financial Markets,
Bank of Namibia



Qualifications:

  • Bachelor of Business Administration (UNAM)
  • Chartered Financial Analyst
  • Senior Management Development Programme (US)

Years of Experience: 19

Expertise:

  • Portfolio management
  • Financial analysis
  • Asset valuation
  • Capital markets
  • Reserves management
  • Risk management



Titus Ndove
Director: Financial Markets,
Bank of Namibia



Qualifications: Master of Science in Financial Economics (MSc in Fin. Econ) - University of London, United Kingdom (2003), Graduate Fellow in Domestic Debt Markets from MEFMI (Macro Economics and Financial Management Institute of Southern and East Africa 2007) and Bachelor of Economics (B. Econ) from the University of Namibia (1998). He attended Management Development Program from the University of Stellenbosch. Other specialised training attended in economics, debt management and investments at the World Bank, International Monetary Fund and the South African National Treasury, respectively. Mr Ndove was also seconded to the Ministry of Finance’s Treasury department in 2011.


Career and Experience: His experience in central banking started in 1999 when joined the Bank following a one year’s stint at Nedbank as Executive Trainee. Ndove’s career at the central bank began as a Junior Research Officer in the Research department. He rose through the ranks and left the Research department with a position of Senior Economist in 2006 to join the Financial Markets department, heading the Money and Capital Market Section. In 2008, he becomes a Deputy Director of the Investments and Domestic Markets Division in the Financial Markets Department. He served at that position until his appointment in January 2012 as Director Financial Markets. Ndove participated in various research projects at the Bank of Namibia and in the MEFMI region. He is currently representing the Bank as a Board Member of the Environmental Investment Fund of Namibia.



Romeo Nel
Director: Banking Supervision,
Bank of Namibia



Qualifications:

  • M Banking (UL)
  • BEcon (UNAM)
  • P/G Intermediate Certificate Accountancy (University of KwaZulu-Natal)

Years of Experience: 29

Expertise:

  • Customs and Excise
  • Finance
  • Banking Regulation
  • Risk Management



Florette Nakusera
Director: Financial Stability and Macroprudential Oversight



Qualifications:

  • MComm Economics (US)
  • Hons. B.Comm Economics (US)
  • BComm (UNAM)
  • Executive Development Programme (US)
  • International Executive Development Programme (WBS/LBS)
  • Executive Development Programme (EDP) USB

Years of Experience: 23

Expertise:

  • Macroeconomic policy
  • Economic research and statistics
  • Central banking
  • Finance
  • Strategic management
  • Leadership and corporate governance
  • Environmental economics and policy



Michael Mukete
Assistant Governor and
Head of Financial Stability,
Bank of Namibia



Qualifications: Mr. Mukete completed a Master of Science Degree in Investment management at City University Business School in the United Kingdom in 2001. In 1999 he obtained Advanced Diploma in Treasury Management and International Trade Finance from the Institute of Bankers of South Africa. He graduated in 1997 from the University of Namibia with a Bachelor's degree in economics and accounting.


Career and Experience: Mr Mukete joined the Bank in October 1997 from the Ministry of Agriculture, Directorate of Planning where he worked for 8 months as an Agricultural Economist. In the Bank, he started his career in the Department of Financial Markets as a Junior Dealer-in Foreign Exchange and Money Market. He subsequently occupied increasingly senior positions in the department until he became its Director in 2007. Having spent one year in that role, he was reassigned to the Banking Supervision Department as its Director, where he was responsible for regulation and supervision of banking institutions and the Oversight of National Payments Systems as well as Financial System Stability function. He has been serving as a member of the Monetary Policy Committee since 2007. Mr Mukete was appointed as Assistant Governor and Head of Financial Stability with effect from 1 August, 2010. Mr Mukete's assists the Governor in overseeing the Financial Markets, Banking Supervision, Payments Systems, Finance and Administration departments and financial stability function.



Kuruvilla Mathew
Senior Advisor to the Governor,
Bank of Namibia



Qualifications: Mr. Mathew has a Masters Degree in Accounting from the University of Glamorgan, United Kingdom and is also a qualified Chartered Certified Accountant (FCCA, UK). He has also undertaken the International Executive Management Development (IEDP) Programme, from the University of Witwatersrand Business School/London Business School.


Career and Experience: Mr. Kuruvilla Mathew is currently serving as the Senior Advisor to the Governor at the Bank of Namibia. He joined the Bank of Namibia in late 1999 as the Financial Accountant and was promoted to the position of Deputy Director: Finance in 2001. He held this position until he was promoted to the position of Director in 2013. Prior to his engagement with the Bank, he undertook his training with Coopers & Lybrand and then worked in the manufacturing industry. A venture into the lecturing field and business summarizes his engagements prior to joining the Bank.
He was the former Chairman of the Public Accountants and Auditors Board (PAAB) of Namibia.



Ebson N. Uanguta
Deputy Governor, Bank of Namibia
Executive Member of the Board



Qualifications:

  • Master of Science (MSc) in Economic Policy Analysis (Addis Ababa University (AAU))
  • Bachelor of Economics (University of Namibia (UNAM))
  • Advanced Management Program (Harvard Business School)
  • Senior Executive Fellow (Harvard-KSG)
  • Senior Management Programme (University of Stellenbosch (US))

Years of Experience: 25

Expertise:

  • Economic policy research
  • Central banking
  • Public policy
  • Leadership and corporate governance



Ipumbu W. Shiimi
Governor, Bank of Namibia



Qualifications: Master of Science in Financial Economics (MSc in Fin. Econ) - University of London, United Kingdom (1998), Postgraduate Diploma in Economic Principles from the same University (1995), Diploma in Foreign Trade and Management - Maastricht School of Management, Netherlands (1994), Honours in Economics from the University of Western Cape, South Africa (1993), Bachelor of Commerce in Economics and Accounting from the same University (1992), specialised training in Management Development Program from University of Stellenbosch (2000) and Wits Business School, South Africa (2001). Other specialised training in economics and finance in Tanzania and USA, as well as at the Bank of England and Reserve Bank of South Africa.


Career and Experience: His wealth of knowledge and experience in central banking span from an impressive record of technical and managerial engagement at the Bank of Namibia since 1995. His career started as a Junior Researcher at the Namibia Economic Policy Research Unit (NEPRU) in 1994. He joined the Bank of Namibia as a Senior Researcher in the Research Department and became a Manager of the Economics Division in the same department in 1997. In 1999, he became Manager of the Modelling and Forecasting Division in the Research Department. In 2000, he took over as Manager of Statistics Division in the Research Department. In 2001, he became the Deputy Head of Research Department and in 2002 he became Chief Economist and Head of Research Department. In June 2006, Shiimi became a Senior Manager in the Banking Supervision Department. He served in this position until he was appointed as Assistant Governor in November 2006. He occupied this position until March 2010 when he was appointed as Governor of the Bank. During his working career, Shiimi participated in various research projects and co-authored various publications as well as served on various Boards and Committees.



Mr. J. !Gawaxab
Governor



Qualifications:

  • Bachelor of Arts (BA) and Master of Business Leadership (University of South Africa (UNISA))
  • Master of Arts (MA) (Graduate Business School, Kingston) 
  • Certificate in Global Leadership (London School of Business) 
  • Advanced Management Program (Harvard Business School)

Years of Experience: 44

Expertise:

  • Financial Services
  • Finance
  • Financial Economics
  • Investments
  • Governance



Brian Eiseb
Director: Exchange Control
and Legal Services



Qualifications:

  • LLM Corporate Law (UNISA)
  • LLB (Hons) & B. Juris (UNAM)
  • Legal Practitioner of the High Court of Namibia
  • National Diploma in Police Science
  • Senior Management Programme (US)
  • International Executive Development Programme (WBS/LBS)

Years of Experience: 32

Expertise:

  • Corporate law
  • Banking law
  • Corporate governance
  • Criminal investigations
  • Corporate security management
  • Exchange control administration



Mr. Kazembire Zemburuka
Acting Director: Strategic Communications



Qualifications:

  • MA Journalism (Distinction) from Cardiff University, Wales (UK)
  • BA Media Technology and Journalism Hons (Polytechnic of Namibia)
  • National Diploma: Media Technology and Journalism (Polytechnic of Namibia)
  • Management Development Programme (Stellenbosch Business School)

Years of Experience: 20

Expertise:

  • Journalism
  • Media
  • International Relations
  • Communications



Sencia Kaizemi-Rukata
Director: Banking Services



Qualifications:

  • MComm Business Management (cum laude) (UNISA)
  • Hons BComm Business Management (UNISA)
  • BComm with specialisation in Human Resources Management (UNISA)
  • National Diploma in Commerce (PoN/NUST)
  • National Secretarial Certificate (PoN/NUST)
  • Specialised training in Foundational Payment Systems (Payments Association of South Africa)
  • Specialised training in Banknote Production from Joh Enschede, Netherlands
  • Senior Management Development Programme (US)

Year of Experience: 23

Expertise:

  • Commercial (Retail) and Central Banking
  • Currency Management
  • Banking Services
  • Strategic Payment Systems Management
  • Leadership and Corporate Governance



Dr M. Tjirongo
Research Advisor to the Governor



Qualifications: Dr. Tjirongo read economics at St. Antony’s College, Oxford University, where he wrote a widely-cited thesis on Exchange Rate Policy Options for Namibia. He also holds MS degree in economics from New Mexico State University, BS degree in Agricultural Business from Iowa State University, and a diploma in agricultural sciences from the University of Botswana and Swaziland. He has attended training in financial programming and policies, macro-econometric modelling and forecasting, negotiation, leadership, managerial and communication skills. Dr. Tjirongo’s research and writings are in exchange rates, exchange rate pass-through, financial inclusion, monetary and regional integration, financial sector development, fiscal policy, sources of growth, pricing of petroleum products, economic adjustment in small open economy, and monetary statistics methodology.


Career and Experience: Dr. M. Tunee Tjirongo has over 25 years experience in research, teaching and economic policy design and implementation. He has extensive experience implementing monetary and exchange rate policies, financial sector policies, fiscal policy, tax reforms, revenue administration, debt management, energy pricing, expenditure policies, public finance management, public-private partnerships, and social protection. Dr. Tjirongo has served the IMF (1999-2013) as desk officer (Tanzania, The Gambia and Eritrea); senior economist providing expert advice on monetary and financial statistics (Barbados, Ghana, Papua New Guinea, Nigeria, Liberia, The Gambia, Serbia, and Montenegro) and resident representative for Sierra Leone and The Gambia. He has taught monetary and financial statistics at the IMF Institute and in the Caribbean and Africa. Previously, he had worked at the Bank of Namibia, as Director of Research in the 1990s, the Bank of Botswana and the University of Botswana. He is currently lecturing corporate finance, derivatives and financial markets at the Namibian School of Business.

Today’s rates
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NCPI

CONSUMER PRICES Total (All urban areas) 12-Term % change

NCPI 5,60 Apr 2022
Interest rates
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Repo rate

Repurchase rate: Rate at which the private (sector) banks borrow namibian dollars from the Bank of Namibia

Prime overdraft rate (predominant rate)

Benchmark rate at which private banks lend out to the public.

Repo 4.25
Prime 8.00
Exchange rates
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NAD per US Dollar

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per British Pound

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Euro

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Angolan Kwanza

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

N$ / $ 15,9806 19 May 2022
N$ / £ 19,8004 19 May 2022
N$ / € 16,7817 19 May 2022
N$ / AOA 0,0389 19 May 2022

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