Bank of Namibia takes over government-owned commercial bank

Bank of Namibia removes SME Bank’s chief executive after “suspicious investments” in South Africa

namibian-dollars
Namibian dollar bills

The Bank of Namibia has taken over the management of government-founded commercial bank SME Bank, removing the chief executive and other senior managers in the process.

In a statement published on March 1, governor Ipumbu Shiimi said "certain investments" made by SME Bank did not conform to sound "investment principles".

SME Bank was founded by the government of Namibia following the dissolution of the Small Business Credit Guarantee Trust. It is a fully licensed commercial bank that provides

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.