In the latest development, the Bank of Namibia and the South African (SA) Reserve Bank (SARB) have signed a revised Memorandum of Understanding (MOU) intended to deepen institutional cooperation in areas including financial surveillance, regulatory frameworks, payment systems and cross‑border stability.

Speaking to Channel Africa on Monday, SARB Spokesperson Yolanda Vatsha said the agreement forms part of wider regional collaboration through platforms such as the Committee of Central Bank Governors and the broader Association of African Central Banks.

“These MOUs stem from cooperation agreements we already have in various committees. They translate into bilateral agreements depending on the need and emerging topics,” she said.

The original MOU between SA and Namibia was signed in 2015. A decade later, it has been updated to reflect new challenges, including anti‑money‑laundering frameworks, payment modernisation and crisis‑management cooperation.

Vatsha said the core purpose of the agreements is secure and confidential information‑sharing to support financial stability. “We need to be able to cooperate in the event of a crisis at any central bank. That is largely what the MOUs do,” she explained.

She noted that financial crime cooperation has grown in importance, especially following SA’s removal from the Financial Action Task Force grey list. SARB has recently hosted peer‑learning sessions for regional central banks to share lessons on strengthening supervision, coordinating between institutions and closing regulatory gaps.

Asked how stronger collaboration could support intra‑African trade under the African Continental Free Trade Area, Vatsha pointed to the role of SADC’s common monetary area, regional governors’ committees and continental groupings such as the Association of African Central Banks.

“These forums allow us to discuss how to strengthen financial systems, improve policy alignment and support more seamless cross‑border trade and payments,” she said.

–ChannelAfrica–