By: Nghiinomenwa-vali Erastus
As part of its evolving foreign exchange reserve management strategy, the Bank of Namibia will begin accumulating gold to diversify and strengthen the country’s reserve assets.
The central bank aims to allocate 3% of its foreign exchange (FX) reserves to gold, a move it says is aligned with global trends in central banking.
This development was disclosed last week during a meeting between the central bank’s leadership and President Netumbo Nandi-Ndaitwah.
Among the key updates shared was the decision to include gold in Namibia’s foreign reserves portfolio.
Gold is regarded as a strategic asset that preserves value during periods of inflation and economic uncertainty.
Comments