The Bank of Namibia has been named the winner of the Artificial Intelligence Initiative Award at the Central Banking Awards, in recognition of its integration of AI and machine learning tools into core operations.
The award honors central banks and financial regulators that have effectively deployed artificial intelligence across areas including forecasting, liquidity management, payments oversight, regulatory reporting and fraud detection. Judging criteria focused on innovation, effectiveness and cybersecurity standards.
The central bank was recognized for several AI-driven initiatives designed to strengthen data-driven decision-making and supervisory oversight. These include a non-performing loans machine learning predictive analytics model that provides forward-looking insights into banking sector risks, and an inflation nowcasting system that generates near-real-time forecasts to support monetary policy decisions. The bank was also recognized for its Regulatory Navigation Tool, an AI-powered platform that provides instant regulatory guidance and improves access to financial sector information.
Governor Ebson Uanguta said the recognition reflects the bank’s commitment to applying innovation in ways that produce measurable outcomes. “We are deeply honoured to be named the winner of Central Banking’s Artificial Intelligence Initiative Award, a recognition that reflects our belief that innovation in central banking must deliver measurable impact for the economy and the financial system,” he said. “We view this award not as a destination, but as a milestone in our journey to build a data-driven, forward-looking central bank aligned to the demands of the new economy.”
Beyond internal applications, the Bank of Namibia has also contributed to the country’s broader AI ecosystem. In partnership with the Namibia University of Science and Technology, the central bank supported the establishment of the Artificial Intelligence and Robotics Accelerator laboratory, a facility aimed at equipping students with practical skills in robotics, natural language processing, computer vision and AI cybersecurity.
The award is scheduled to be formally presented at the Central Banking Awards ceremony in June 2026.
