Namibia: Uanguta Holds Fort At BoN

THE deputy governor of the Bank of Namibia, Ebson Uanguta, will be at the helm at the central bank following the appointment of its former governor Ipumbu Shiimi as minister of finance.

In a statement released by the central bank today, it was said that the deputy governor will perform executive responsibilities in conjunction with the bank's board after the appointment of Shiimi as finance minister.

The bank also highlighted that the Constitution and the Public Service Act set out the procedure to be followed with the appointment of the Bank of Namibia's governor, which should be done by the president on a recommendation of the Public Service Commission.

The PSC recommendation to the president on the appointment of a new governor will also have to made after consultation with the finance minister, who in this instance is the previous governor of the central bank.

The statement did not indicate when the next governor will be appointed, but the bank thanked Shiimi for 10 years of service as its governor.

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