{"id":95205,"date":"2025-10-18T15:15:23","date_gmt":"2025-10-18T15:15:23","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold"},"modified":"2025-10-18T15:39:57","modified_gmt":"2025-10-18T15:39:57","slug":"bon-plans-to-accumulate-gold","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold","title":{"rendered":"BoN plans to accumulate gold"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span> <\/b>
\nThe Bank of Namibia (BoN) has launched a gold accumulation strategy to diversify the country\u2019s foreign exchange reserves and strengthen economic stability amid global uncertainty.<\/p>\n

BoN governor Johannes !Gawaxab said the strategy is part of a broader effort to protect Namibia\u2019s financial system and improve its resilience against external shocks.<\/p>\n

He said gold will now form a key component of the central bank\u2019s reserves portfolio, targeting 3% of total net foreign exchange holdings.<\/p>\n

The gold will be acquired from local mines, kept under domestic custody and stored as London Bullion Market Association (LBMA) good delivery bars with 99.9% purity.<\/p>\n

\u201cGold remains a strategic asset, a store of value, an inflation hedge, and a symbol of sovereign autonomy,\u201d !Gawaxab said.<\/p>\n

The move aligns Namibia with a growing number of central banks turning to gold amid dedollarization, geopolitical tensions, and persistent inflation.<\/p>\n

Global gold prices have reached record highs as investors seek safe-haven assets.<\/p>\n

The gold strategy comes as the global economy faces slower growth.<\/p>\n

The bank projects global output to ease to 3.2% in 2025 from 3.3% in 2024, with advanced economies expected to grow by only 1.6%.<\/p>\n

Domestically, Namibia\u2019s gross domestic product (GDP) growth is expected to slow to 3.5% in 2025 before slightly improving to 3.9% in 2026.<\/p>\n

Inflation is projected to stay manageable, though the current account deficit will remain high.<\/p>\n

As of 30 September, Namibia\u2019s foreign reserves stood at N$54.7 billion and are expected to close the year at N$47.2 billion after the redemption of the US$750 million Eurobond on 29 October 2025, repayments to the International Monetary Fund (IMF) and commercial bank outflows.<\/p>\n

The bank plans to replenish reserves through foreign loans and stable Southern African Customs Union (SACU) receipts.<\/p>\n

Despite these pressures, !Gawaxab said preparations for the Eurobond repayment are on track, with N$13.5 billion mobilised.<\/p>\n

He said this reflects Namibia\u2019s commitment to investor confidence and prudent debt management.<\/p>\n

The bank also reported that the domestic financial system remains stable and well-capitalised, with strong oversight by both banks and non-bank financial institutions.<\/p>\n

Meanwhile, the diamond industry continues to struggle as global prices drop due to weaker demand in major markets, growing competition from lab-grown diamonds, and high inventories.<\/p>\n

Namibia\u2019s diamond output is forecast to contract by 4.5% in 2025, while export earnings have already declined by nearly 20% this year.<\/p>\n

Despite these challenges, !Gawaxab said the Bank\u2019s gold strategy and disciplined management of reserves will help safeguard Namibia\u2019s financial stability.<\/p>\n

Source: observer24<\/b><\/p>\n

For More News And Analysis About Namibia<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The Bank of Namibia (BoN) has launched a gold accumulation strategy to diversify the country\u2019s foreign exchange reserves and strengthen economic stability amid global uncertainty. BoN governor Johannes !Gawaxab said the strategy is part of a broader effort to protect Namibia\u2019s financial system and improve its resilience against external shocks. He said […]<\/p>\n","protected":false},"author":84,"featured_media":95204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233],"class_list":["post-95205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-namibia"],"yoast_head":"\nBoN plans to accumulate gold - Namibia<\/title>\n<meta name=\"description\" content=\"The Bank of Namibia (BoN) has launched a gold accumulation strategy to diversify the country\u2019s foreign exchange ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoN plans to accumulate gold\" \/>\n<meta property=\"og:description\" content=\"The Bank of Namibia (BoN) has launched a gold accumulation strategy to diversify the country\u2019s foreign exchange ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-18T15:15:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-18T15:39:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2025\/10\/sm_1760789198.541484.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BoN plans to accumulate gold\",\"datePublished\":\"2025-10-18T15:15:23+00:00\",\"dateModified\":\"2025-10-18T15:39:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\"},\"wordCount\":416,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2025\/10\/sm_1760789198.541484.jpg\",\"keywords\":[\"namibia\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-plans-to-accumulate-gold\",\"name\":\"BoN plans to accumulate gold - 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