systems, and the stability of the namibia dollar. ladies and gentlemen, in line with international industry best practice, banknotes should bear the signature of the sitting governor as a level one security feature and as a public recognition feature when they are replenished or when a new series is issued. as a statutory mandate, the bank should ensure the sufficient and steady supply of currency to the market at any given time. to give effect to this, the bank as informed by the demand from the market, replenishes currency occasionally. as you may recall, we witnessed the issuance of the n $ 20 and n $ 200 banknote denominations in opuwo and outapi in february 2023. this year, we are witnessing the launch of the modified n $ 100 banknote denomination, which reprint was informed by 5 / 6 bis - central bankers'speeches the bank's normal replenishment cycle. the reprinted n $ 100 banknote denomination bears the signature of the incumbent governor hence the need to inform the public given the change in one of the key level 1 security features. this change of the governor's signature and the year of print are the only key changes effected on the modified n $ 100 banknote denomination, all other security features remain the same. as with all awareness campaigns, the bank encourages the public to use the " look, feel, tilt " principle to validate the authenticity of the namibian banknotes. with these words, esteemed guests, i invite the deputy mayor of luderitz town, to join me in officially unveiling the modified n $ 100 banknote. together, let us embark on this journey towards a more inclusive and prosperous future. i thank you. 6 / 6 bis - central bankers'speeches

to continue to address. political stability is a must. no economic development can take place in an environment of civil wars and political unrest. when you have social unrests, scarce resources that are necessary for economic development are diverted to unproductive war expenditures. we therefore need to continue to promote policies that will prevent political instability. it is heartening to note that political stability is improving in africa. although there are still few countries that are facing civil wars, the situation has significantly improved compared to the 1970s and 1980s. macroeconomic stability is equally important. during the 1980s, africa lost a decade in terms of economic growth partly due to the absence of prudent macroeconomic policies. high and volatile inflation rates, unsustainable budget deficits and balance of payments crisis characterized many countries on our continent during this period. therefore, maintaining and further consolidating both political and economic stability would be an important ingredient in enhancing economic growth. today education is widely recognized as an important contributor to economic growth because it leads to the creation of new knowledge and innovation. not only is education important for economic growth, it is probably the most basic necessity after those that are vital to life itself, such as food, clothing and shelter. it is education that lifts people out of the state of poverty. the huge gaps in economic opportunities that we witness on the continent, is mainly as a result of lack of skills and knowledge. what we must, however, remember is that it is no longer enough to provide education as a social service. in today ’ s world where international boarders are fast crumbling, it is education that will distinguish winners from losers. as african countries, we have now to compete in the world market where competition is so fierce and only the fittest will survive. it is therefore critical that the education must be relevant and of high quality. not only should the education be of high quality, but it must also be practical. the education must lead to a situation where we are able and ready to use the knowledge we have acquired and find ingenious ways of addressing the economic problems facing africa. this means africa must continue to invest in its human capital, while at the same time creating incentives to keep them on the continent. another important issue that needs our focus is the quality of our public institutions. our public institutions must be strengthened with the necessary capacity to carry out their mandates effectively. we must therefore ensure that we appoint only people with the required capabilities and willingness to lead our public institutions. to