Considerations for the creation of a SADC Reserve Bank : a Namibian perspective.

Abstract

This study is concerned with the feasibility and problems associated with the timely establishment of the SADC monetary union and central bank. During this study an indepth literature review was done to analyse / establish the historical background for the establishment of the monetary union for SADC, to look at the reason for a central bank's existence and the functions performed by the central banks in the region. The study looks at the benchmark used for the establishment of this monetary union, this being the European Union. It looks at the establishment of the monetary union from a political, central banking, commercial banking and business perspective and also how these entities will be affected by the establishment. The study aims at looking at the problems that might prevent the SADC region from reaching the expected implementation date of 2016 and to make some recommendations to assist the different parties to best prepare for the successful implementation of this monetary union for SADC.