By: Chidozie Nwali
The Bank of Namibia (BoN) said on Wednesday that its Governor, Dr. Johannes !Gawaxab, will step down from his position at the end of this December, a year before his full five-year term was due to expire.
Dr. !Gawaxab, who first assumed the governorship on June 1, 2020, and was re-appointed for a five-year term starting in January 2022, will have served approximately five and a half years at the helm of the country’s monetary authority.
The Bank of Namibia’s Board of Directors issued a statement praising Dr. !Gawaxab’s tenure, highlighting his “exemplary stewardship, bold reforms, and transformative leadership” during what they called a “challenging and consequential period.”
Dr. !Gawaxab Implemented decisive monetary policy actions during the COVID-19 pandemic, such as front-loading interest rate cuts and providing regulatory relief to financial institutions, measures the Board said “prevented deeper economic contraction.”
He supported the government’s efforts to fully and timely redeem the country’s $750 million Eurobond in October 2025, a critical action that bolstered international investor confidence in Namibia.
BoN Maintained a disciplined monetary policy, which saw inflation contained and averaging 3.6% in the first eight months of 2025.
Meanwhile, as of the time of the announcement, the specific, official reason for his early resignation remains undisclosed by the Governor or the central bank.
