Nicholas Mukasa has been appointed as Second Deputy Governor of the Bank of Namibia, with effect from 1 May 2026, in a move that reflects both institutional continuity and the evolving priorities of central banking across the southern African region. The appointment was made by President Netumbo Nandi Ndaitwah in accordance with Article 32 of the Namibian Constitution and the provisions of the Bank of Namibia Act, 2020.
Mukasa succeeds Ebson Uanguta, who assumed office as Governor on 1 January 2026 following the completion of Johannes Gawaxab’s tenure. Leonie Dunn remains in her role as the other Second Deputy Governor, maintaining continuity within the institution’s senior leadership.
His appointment comes at a moment when central banks across the African continent are navigating complex transitions shaped by technological change, shifting capital flows and renewed attention to domestic economic resilience. Within Namibia, the Bank has increasingly signalled its intention to strengthen its analytical and operational capacity in response to developments such as the digitisation of financial services, regional financial integration and the growing importance of sectors including energy and infrastructure.
Mukasa brings more than a decade of experience within the central bank, having joined the institution in 2011 as a risk analyst. Over time, he has held a series of senior roles including portfolio manager, portfolio risk manager and deputy director for compliance and risk analytics. In 2016, he was appointed Director of Financial Markets, a position in which he oversaw the management of Namibia’s foreign exchange reserves, contributed to the implementation of monetary policy decisions and coordinated government domestic debt issuance. He has also served on both the Management Committee and the Monetary Policy Committee, positioning him within the core of the Bank’s decision making processes.
Prior to his tenure at the Bank of Namibia, Mukasa worked in the private financial sector, including roles in stockbroking and asset management at Namibia Equity Brokers and Prudential Portfolio Managers Namibia. His academic background includes a Bachelor of Business Administration from the University of Namibia, and he is a Chartered Financial Analyst charterholder. His executive education includes programmes at Stellenbosch University and Harvard Business School.
In remarks accompanying the announcement, Governor Uanguta indicated that Mukasa’s appointment aligns with the Bank’s broader institutional trajectory. He noted that expertise in financial markets and policy implementation would be central as the institution continues to position itself as a knowledge driven central bank within a changing economic landscape.
Across Africa, central banks have increasingly taken on expanded roles that extend beyond conventional monetary policy frameworks, including engagement with financial inclusion, digital currencies and sustainable finance. Mukasa’s career trajectory, rooted in both technical financial management and policy processes, reflects this broader shift in central banking practice on the continent, where institutions are seeking to balance global financial integration with domestic developmental priorities.
His appointment therefore not only marks a transition within Namibia’s central banking leadership, but also illustrates a wider pattern in which African financial institutions are drawing on locally grounded expertise to navigate global economic dynamics while remaining attentive to national and regional imperatives.
