Which institution is Namibia’s central bank, established shortly after independence in 1990?

The Bank of Namibia is Namibia’s central bank, established shortly after independence in 1990.

Namibia became independent from South Africa on 21 March 1990, and the Bank of Namibia was established later that year under the Bank of Namibia Act. Its creation gave the new country a national institution responsible for monetary policy, banking supervision and financial stability.

The bank is headquartered in Windhoek. Namibia introduced the Namibian dollar in 1993, replacing the South African rand as the country’s official currency, although the rand remains legal tender under Namibia’s monetary arrangements.

That currency relationship is a common source of confusion: the Bank of Namibia issues Namibian dollar notes and coins, but Namibia’s currency is pegged one-to-one to the South African rand. The central bank’s role is therefore national even though the two currencies remain closely linked.