Bank of Namibia yet to decide on gold reserve target beyond 3%
The Bank of Namibia is currently evaluating its gold accumulation strategy as it approaches its initial 3% reserve target. A decision on whether to expand this program further is expected in the first quarter of 2027.
Why it matters
Central bank reserve diversification strategies impact national economic stability and global gold market demand.
The Bank of Namibia has yet to decide whether it will increase the share of gold in its international reserves beyond the 3% target set for the first phase of its gold accumulation programme.
Deputy BoN governor Nicholas Mukasa says the central bank will assess its position in the first quarter of 2027 after reaching the initial target, before deciding whether to proceed with a second phase of gold accumulation.
“We want to first of all focus on phase one and then, in the first quarter of next year, we can sit as an institution and decide and say, look, fine, we are now at the 3% target that we wanted for phase one. What do we do now in phase two?” he says.
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