Namibia has appointed Ebson Uanguta as the new governor of the Bank of Namibia, effective January 1, as reported by Reuters.

Uanguta will succeed Johannes !Gawaxab, whose departure was announced last month, and will serve a five-year term, the office of President Netumbo Nandi-Ndaitwah confirmed in a statement.

Uanguta brings more than a decade of experience at the central bank, having served as a deputy governor since January 2012. His promotion ensures continuity in leadership at a time when Namibia is positioning itself as a growing destination for global energy investment.

!Gawaxab, appointed in June 2020, navigated the central bank through the COVID-19 pandemic and oversaw a period of heightened resource exploration. Namibia has attracted international attention as an exploration hotspot, with the country targeting its first crude oil production by 2030, a milestone that could significantly reshape its small economy.

The leadership transition at the Bank of Namibia comes as policymakers balance domestic economic stability with ambitions to expand the country’s extractive sector, signaling the strategic importance of central bank leadership in guiding financial and investment policy during this critical period.