Bank of Namibia Governor Johannes !Gawaxab to step down at year-end

The Bank of Namibia has announced that Governor Johannes !Gawaxab will step down on 31 December 2025, concluding more than five years in office.

Appointed initially in June 2020 and later for a full five-year term, Gawaxab steered the bank through a turbulent period for the economy. Under his leadership, the bank executed a sharp 400-basis-point increase in interest rates during the 2022–2023 cycle and successfully managed inflation averaging 3.6 % in 2025.  Kazembire Zemburuka from the Bank of Namibia expands.

In a formal statement, the central bank noted Gawaxab’s role in navigating the economy through pandemic-era shocks and noted Namibia’s redemption of its US$750 million Eurobond under his watch. A successor has yet to be announced.