Banking

Key figures

Regulators

Bank of Namibia

The Bank of Namibia is Namibia’s central bank and, as such, performs all the usual functions and exercises all the usual powers of a central bank including the conduct of monetary policy and the setting of interest rates, the management of the exchange rate and foreign exchange reserves, and the regulation of the country’s banking system. Namibia belongs to the Common Monetary Area (CMA) with South Africa, Lesotho and Eswatini and the South African Rand (ZAR) continues to be legal tender. The Bank of Namibia is the public agency charged with administering Namibia’s foreign exchange controls which are important for companies which are funded by foreign capital or engaged in foreign trade. The Governor of the Bank of Namibia is currently Mr Johannes !Gawaxab who was first appointed on 1 June 2020 and then for a full five-year term from 1 January 2022.Read more about Bank of Namibia

Namibia Financial Institutions Supervisory Authority

The Namibia Financial Institutions Supervisory Authority (NAMFISA) was created under the Namibia Financial Institutions Supervisory Authority Act (Act No.3 of 2001). NAMFISA regulates providers of non-banking financial services including the Namibian Stock Exchange, stock-brokers, asset managers, life insurance and insurance companies, and micro-lenders. Mr Kenneth Matomola was reappointed CEO for a second five-year term ending 31 July 2026.Read more about Namibia Financial Institutions Supervisory Authority

Source: Bank of Namibia, last checked 28 Mar 2025; Source: Namibia Financial Institutions Supervisory Authority Act, last checked 28 Mar 2025

Public enterprises

Agricultural Bank of Namibia

In its present form the Agricultural Bank of Namibia (“Agribank”) was established in terms of the Agricultural Bank of Namibia Act (Act No.5 of 2003) and is classified as a public enterprise that is a financial institution. Agribank’s mandate is “to advance money to persons or financial intermediaries for the promotion of agriculture and related activities”. Under the Act, Agribank does not pay corporate income tax or dividends and is audited by the Office of the Auditor General. Its board must submit an audited annual report to the Minister of Agriculture within six months of the end of its financial year. Agribank’s financial year runs from 1 April. Its CEO is Mr Robert Eiman who took up the post on 1 July 2026.Read more about Agricultural Bank of Namibia

Development Bank of Namibia

The Development Bank of Namibia (DBN) was established 2003 in terms of the Development Bank of Namibia Act (Act No.8 of 2002) and is classified as a public enterprise that is a financial institution. The DBN’s mandate is “to contribute to the development of Namibia and the socio-economic wellbeing of its citizens”. Under the Act, the DBN does not pay corporate income tax. The DBN’s financial year runs from 1 April. The DBN is rated by Fitch Ratings. The DBN’s CEO was Dr John Steytler who was appointed on 1 September 2023 but resigned on 11 March 2025 to be replaced by John Mbango as acting CEO. Mr Titus Ndove was appointed CEO from 1 November 2025.Read more about Development Bank of Namibia

Companies

• Capricorn GroupCGP
• FirstRandFST
• FirstRand NamibiaFNB
• InvestecIVD
• Letshego Holdings (Namibia)LHN
• Nedbank GroupNBK
• SBN HoldingsSNO
• Standard Bank GroupSNB