BoN Wins AI Innovation Award

BANK OF NAMIBIA WINS INTERNATIONAL AWARD FOR ARTIFICIAL INTELLIGENCE INNOVATION

1. The Bank of Namibia has been named the winner of the Artificial Intelligence Initiative Award at the prestigious Central Banking Awards, in recognition of the Bank’s successful integration of artificial intelligence and machine learning tools into its day-to-day operations.

2. The award recognises a central bank, regulator, supervisor, or official institution that has effectively deployed artificial intelligence technologies in areas such as forecasting, liquidity management, payments oversight, regulatory reporting, trading, or fraud detection. The assessment criteria focused on innovation, effectiveness, and cyber hygiene, highlighting institutions that demonstrate practical impact through responsible AI implementation.

3. The Bank was recognised for several flagship initiatives that demonstrate the transformative potential of artificial intelligence in central banking. These include the Non-Performing Loans (NPL) Machine Learning Predictive Analytics Model, which provides forward-looking supervisory insights for the banking sector; an Inflation Nowcasting System, which uses AI models to generate near real-time inflation forecasts in support of monetary policy decisions; and the Regulatory Navigation Tool (RegNav), an AI-powered platform designed to deliver instant regulatory guidance and improve access to financial sector regulatory information.