Namibia's Central Bank Builds Initial Gold Reserves

Namibia's central bank is in the process of building its initial gold reserves through a domestic purchase program.

The Bank of Namibia launched the initiative in March 2026, partnering with QKR Namibia Navachab to accumulate gold on a 'phased basis' from local production using Namibian dollars.

According to Governor Ebson Uanguta, establishing a gold reserve aligns with several central bank objectives of safeguarding macroeconomic stability and promoting national economic interests.

The goal in phase one is to establish gold holdings making up 3 percent of the country's international reserves, roughly N$1.74 billion.