Nakusera to head Namibia Deposit Guarantee Authority (NDGA)

The Bank of Namibia has announced the appointment of Herman Shilongo as a Board Member of the Namibia Deposit Guarantee Authority for a period of five years while Florette Nakusera will head the administration of the Authority.

The appointment of Shilongo as a Board Member by the Bank of Namibia and approval by the Minister of Finance, was done in line with Section 6(1) of the Namibia Deposit Guarantee Act (Act No. 16 of 2018). The appointment followed a response to a published advertisement and an interview process in order to select capable leaders responsible for the general policy, control and administration of the business and affairs of the Authority.

Further, in line with Section 19(2) of the Namibia Deposit Guarantee Act, Act 16 of 2018, the Namibia Deposit Guarantee Authority Board of Directors appointed Florette Nakusera as the Head of the Authority.

The appointment is a secondment to the Authority by the Bank of Namibia. Ms. Florette Nakusera is the current Director of the Financial Stability and Macroprudential Oversight Department. She was the previous Director of the Research and Financial Stability Department and Chief Economist of the Bank of Namibia for over 7 years. She has over 23 years of experience in Macroeconomic policy, research and statistics, Central banking, Finance and investments, Strategic management, Leadership and corporate governance, as well as, Environmental economics and policy.

“All staff members seconded to the Authority, including Nakusera remains in the employ of the Bank while carrying out work related to the effective administration of the Fund. This arrangement does not attract cost to the Authority in keeping with the agreement between the Bank and the Authority which eliminates the recruitment of full-time staff,” Bank of Namibia said.

The Deposit Guarantee Authority is an independent juristic body and is being supported administratively through the existing structures of the Bank of Namibia.

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