Windhoek — The assistant governor of the Bank of Namibia Michael Mukete has resigned. According to a statement from the Bank of Namibia, Mukete is going to "pursue other career growth opportunities in the private sector after serving the bank for 16 years". His last working day was Friday October 4. Mukete will be taking up an executive position in the company PointBreak Group Namibia.
He has been given a three-month "cooling off period", Bank of Namibia says, because of "the nature of his role at the bank and the bank being a regulator of banking institutions, the bank has granted him a three-month cooling off period." Mukete is not expected to take up paid employment in the banking sector during the three months.
Mukete was appointed Assistant Governor and Head of Financial Stability in August 2010. Before that he served as Director of the Banking Supervision Department between July 2008 and July 2010, and Director of the Financial Markets Department between January 2007 and June 2008. He joined the bank in October 1997 as a junior dealer in the Financial Markets Department and subsequently assumed increased roles and responsibilities in the same department until he became its director.
"The Bank of Namibia thanks Mukete for his dedication, commitment and tireless contribution towards the vision of excellence and for helping to fulfill the mandate of the bank over the last 16 years. The board, management and staff members of the Bank of Namibia therefore wish Mukete all the best in his future endeavours," said the statement.