Namibia launches payment system strategy to drive inclusive growth

WINDHOEK, 26 MAR (NAMPA) - Namibia on Thursday launched its National Payment System (NPS) Vision and Strategy 2030, aimed at strengthening digital financial infrastructure and expanding inclusive economic participation.
The launch was hosted by the Bank of Namibia (BoN) and brought together government officials, financial sector players and industry stakeholders.
Finance Minister Ericah Shafudah said an efficient and inclusive payment system is central to economic activity, enabling the flow of money across households, businesses and government.
“Access to fast, affordable, and secure payment is no longer a convenience, but a necessity for participation in the economy,” she said.
Shafudah said the NPS Vision 2030 aligns with Namibia’s broader development agenda and will support digital public infrastructure, including instant payment systems and improved service delivery.
She added that successful implementation will require coordination and accountability from all stakeholders to translate the strategy into tangible outcomes.
Presenting the vision, Acting Director for NPS and Financial Surveillance at the central bank, Irene Venter, highlighted progress in expanding the national payment ecosystem.
“We have grown from eight participants within the National Payment System to over 28 participants, a testament to the strength of our enabling laws,” she said.
Venter said the strategy is anchored on key pillars such as user-centricity, trust, digital enablement and innovation, with a focus on interoperability and seamless digital payments.
She noted that initiatives including open banking, QR code payments and digital public infrastructure will improve access to financial services and support entrepreneurs and informal businesses.
Also speaking at the launch was the acting Chief Executive Officer of the Payments Association of Namibia, Mbapeua Kauuova, who emphasised the importance of implementation.
“Its success will depend on our collective commitment to implementation. Let us translate this vision into tangible outcomes that benefit businesses, consumers and the Namibian economy,” he said.
Kauuova said the strategy represents a shared roadmap towards a modern, secure and inclusive payment system that will support economic growth and financial inclusion in Namibia.
(NAMPA)
MWY/AS