The Bank of Namibia (BoN) has announced a record-breaking dividend of N$720 million to the Government of the Republic of Namibia, marking the highest-ever payout in the central bank’s history. Governor Johannes !Gawaxab unveiled the milestone during the launch of the BoN’s 2024 Annual Report in Windhoek, attributing the achievement to robust financial performance and strategic execution over the past year.
The dividend, a significant leap from the N$511.47 million declared in 2023, follows a year of strong reserve growth driven by elevated SACU receipts, diamond revenues, high global yields, and a favourable interest rate environment. Governor !Gawaxab highlighted that the Bank’s operating surplus remained steady at N$1 billion, bolstered by unrealized foreign exchange gains of N$226 million due to a weaker Rand. “This historic dividend underscores our commitment to supporting national development and reflects the Bank’s resilience amid global economic uncertainties,” he stated.
The Governor also emphasized the Bank’s operational excellence, noting a 98% implementation rate of its 2022–2024 strategic objectives. Key accomplishments included maintaining inflation within regional targets, modernizing currency management with new banknotes, and advancing digital transformation through automation and artificial intelligence. These efforts earned the BoN international recognition, including the Central Banking FinTech & RegTech Pioneer Award.
Looking ahead, the BoN unveiled its 2025–2027 strategy, focusing on building a “smart central bank,” fostering financial inclusivity, and supporting Namibia’s economic diversification into sectors like oil and gas. Initiatives such as instant payment systems, enhanced cybersecurity, and a state-of-the-art Money Museum aim to future-proof the institution.
Governor !Gawaxab credited the Bank’s staff, management, and board for the historic results, urging continued vigilance against emerging challenges like climate change and technological disruption. “We cannot afford complacency. Our collaboration with government and partners remains vital to securing Namibia’s prosperous future,” he concluded.
The dividend announcement signals the BoN’s strengthened fiscal contribution to national priorities, even as it prepares to navigate an evolving economic landscape