The Bank of Namibia (BoN) and the Communications Regulatory Authority of Namibia (CRAN) have formalised their cooperation with the signing of a Memorandum of Understanding (MoU) in Windhoek. This MoU strengthens collaboration between the two regulators, reinforcing their commitment to the effective regulation of the telecommunication and financial sector in Namibia.

BoN, established under the Bank of Namibia Act, (No. 1 of 2020), is tasked with promoting monetary stability, ensuring the soundness of the financial system and fostering economic growth. CRAN, established under the Communications Act, (No. 8 of 2009), is mandated to regulate Namibia’s Information and Communication Technology (ICT), broadcasting, and postal services sectors. Its role includes ensuring the provision of quality and affordable ICT services to all Namibians, while also safeguarding consumer interests.

The MoU also prioritises consumer protection, recognising the significance of safe, secure and efficient services in both sectors. As Namibia embraces technological advancements, the cooperation amongst the regulators sets the foundation for coordinated efforts in addressing emerging challenges and opportunities.