Windhoek: The Bank of Namibia (BoN) on Tuesday won the Artificial Intelligence Initiative Award at the globally recognised Central Banking Awards, marking a milestone for Namibia's financial sector. The awards, hosted annually by Central Banking Publications, recognise excellence among central banks and financial institutions worldwide in areas such as innovation, policy and operations. According to Namibia Press Agency, the Artificial Intelligence Initiative Award honours institutions that have effectively deployed artificial intelligence technologies in areas including forecasting, liquidity management, regulatory reporting and fraud detection, with evaluation based on innovation, effectiveness and cybersecurity standards. BoN received the award for several initiatives, including a non-performing loans machine learning predictive analytics model, an inflation nowcasting system for near real-time forecasts, and a regulatory navigation tool aimed at improving access to financial sector regulations. In a sta tement issued on Tuesday, the central bank said the initiatives are designed to strengthen data-driven decision-making, enhance supervisory oversight and improve operational efficiency while maintaining strong cybersecurity safeguards. BoN Governor, Ebson Uanguta, said the recognition reflects the institution's commitment to impactful innovation. '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. Uanguta added that the award marks progress in the bank's transformation into a data-driven and forward-looking institution. '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,' he said. The Bank of Namibia has also contributed to the country's artificial intelligence ecosystem through collaboration with the Namibia University of Science and Technology, supporting the establishment of an Artificial Intelligence and Robotics Accelerator laboratory. The award will be formally presented at the Central Banking Awards ceremony scheduled for June 2026.