Namibia, South Africa governors sign revised banking pact

A freshly inked MoU between Namibia's and South Africa's central banks is tightening oversight of cross-border financial operations.

Revised central bank pact signed in Pretoria

• Ebson Uanguta and Lesetja Kganyago put pen to paper.
• BoN's governor visited SARB for the formal signing.
• Supervisory rules and resolution protocols got beefed up.
• Cross-border institutions face tighter joint scrutiny.

Why the old agreement needed a refresh

• Financial markets in both countries are deeply intertwined.
• Uanguta flagged their shared history as the foundation.
• Regional integration and monetary stability drive the partnership.