Empowering the girl child and breaking glass ceilings by paving the way for the upcoming generation
To recognise accomplishments of the transformation agenda in the financial sector, the Bank of Namibia hosted an event under the theme ‘Celebrating Female Leadership in Banking’. The event took place on Monday, 8 February 2021 at the Bank of Namibia.
Transformation of the Namibian financial sector as advocated for by the Namibia Financial Sector Strategy 2011-2021 and the voluntary Financial Sector Charter calls for the localisation of the sector.
In this context, localisation refers to ensuring increased local ownership, skills development and decision-making capacity of institutions.
This includes representation or participation of Namibian citizens in the control and management structures of the institutions, i.e. boards of directors, executive management and other decision-making structures.
Currently, four of the top five commercial banks in Namibia have female chief executives.
• Baronice Hans, the managing director of Bank Windhoek,
• Ester Kali, the chief executive officer of Letshego Namibia,
• Martha Murorua, the managing director of Nedbank Namibia, and
• Mercia Geises, the new chief executive officer designate of Standard Bank.
At the occasion, BoN governor Johannes !Gawaxab said: “Over the past 30 years, we have observed a significant improvement in respect of localisation of management at banking institutions. We have seen Namibian women being appointed on merit to management and executive positions within the banking sector, which is a welcomed undertaking.”
The transformation of management of banks is not a legal or regulatory requirement under the mandate of the Bank of Namibia.
The banks, as signatory to the Financial Sector Charter, voluntarily implement the Charter as well as heed to the reforms advocated for in the national sector transformation Strategy i.e. the Namibia Financial Sector Strategy.
“As regulator, the Bank is proud to celebrate these appointments as they are furthering the national aspiration of transforming the management and ownership of financial institutions,” !Gawaxab said.