procedures are robust enough, should individual customer systems fail to operate in a year - 2000 - compatible manner. as you all know, the bundesbank is responsible for monetary policy in germany till the end of this year, but will also continue to form part of the banking supervision authority after the start of stage three of european monetary union. in his luncheon address, my colleague mr edgar meister, who is in charge of the bundesbank´s banking supervision department, and chairman of the ecb - committee on this subject, is going to outline the bank ’ s actions in that field in detail. co - ordination with other institutions ’ activities the bundesbank is not only a part of the financial sector, but also a fiscal agent for the government. at the administrative level, the bank isworking closely with other official institutions to ensure the year - 2000 - compatibility of public authorities. the activities of the public financial sector are managed by the ministry of finance. in june 1998, a “ year 2000 forum ” was called into being by the german banking and insurance supervisory authorities, the bundesbank and private banking associations as a platform for regulators and official and private credit institutions to exchange their views and experiences. the government activities relating to the y2k challenge as a whole are being coordinated by the ministry of economics. in this position, the ministry is also overseeing the preparatory activities of the industrial sector in germany. special attention is being given to the readiness of core infrastructure providers because of their major significance for economic activity in general. in particular, given the financial sector ’ s heavy dependence on telecommunications, water, energy and transportation, any failure to meet the year 2000 challenge in any of these sectors could lead to serious disruptions at the national and international levels. in addition to that, it would probably adversely affect all contingency plans of the entire economy. as you know, our latest joint year 2000 council bulletin also focuses on this matter, and i hope that we will have an opportunity to attract public attention in this respect at the forthcoming press conference. preparations at the european level at the european level, the bundesbank, being a member of the escb, is taking part in the activities of the ecb to ensure the year - 2000 - compliance of escb - wide systems and applications. the necessity for the ecb and the escb to give emu top priority poses an additional challenge to their activities in connection with y2k. however, all the new payment and accounting

ipumbu shiimi : currency conversion agreement between bank of namibia and national bank of angola remarks by mr ipumbu shiimi, governor of the bank of namibia, at the signing ceremony “ currency conversion agreement between bank of namibia and national bank of angola ”, santa clara, 22 september 2014. * * * director of ceremonies ms rosa pacavia, minister of trade dr jose de lima massano, governor of banco nacional de angola mr antonio didalelwa, governor of the province of cunene mr usko nghaamwa, governor of the ohangwena region mr antonio tiago gomes, executive secretary of the angolan chamber of commerce ; mr tomas indjii, chairperson of the namibia chamber of commerce : ongwediva branch distinguished invited guests members of the media ladies and gentlemen, bondia it is a pleasure to address you today at this important occasion of the signing of the currency conversion agreement between the bank of namibia and banco nacional de angola. this heralds a significant milestone in the creation of an enabling business environment for namibia and angola and is among the many steps we need to take towards winning the economic struggle and achieve prosperity for our two countries. ladies and gentlemen, to contextualise this signing ceremony, we need to reflect on our history. namibia and angola are much more than just mere geographical neighbours. these two nations share a long history and common heritage that cannot be severed. during namibia ’ s long and stretched out liberation struggle for independence, angola became the refuge for many namibians and served as the strategic military base from which to fight the war. after namibia gained independence ; namibia in turn supported the government of angola during their civil war and provided a home for angolans seeking refuge. this support to each other in times of need has created a strong bond that it is cemented by blood. since then, both countries have emerged from bitter wars. with the return of peace to both countries, we are vigorously pursuing the second phase of the struggle, the economic emancipation of our citizens. hence the need to create the necessary platforms, including payment system infrastructures, that will enhance trade among the people of our two countries. against this background, this agreement will allow for the conversion of the national currencies of the republic of angola and the republic of namibia with the aim to stimulate trade between the two countries. this means the kwanza and the namibia dollar will now be acceptable on both sides of the borders. the agreement will thus further strengthen the