Financial inclusion: What does it mean for Namibia?
As Namibia gathers under the auspices of the inaugural Alliance for Financial Inclusion (AFI) Global Policy Forum, it is fitting to reflect on what financial inclusion truly means for our nation and how our shared vision is crystallising into concrete impact.
National Vision Grounded in Local Realities
Earlier this year, the Bank of Namibia (BoN), together with the Ministry of Finance and NAMFISA, launched the Namibia Financial Sector Transformation Strategy (2025–2035), a bold 10-year blueprint designed to modernise, localise, and democratise our financial system. Central to this strategy is an ambition to expand financial inclusion to 95% of the national population, and 75% of rural communities by 2035.
But the shift is not merely about expanding access, it is about deepening meaningful usage and ensuring that financial services translate into real, tangible benefits for all Namibians.
From Access to Impact: A Shift in Mindset
The pursuit of inclusion must go beyond opening accounts; it must ensure that those accounts become instruments of empowerment especially for underserved communities in rural and informal sectors, turning informal activity into formal opportunity.
Bank of Namibia’s strategy underscores this shift. It signals a vision of finance not as a siloed resource, but as a foundation for economic empowerment and a driver of inclusive growth. Such framing is crucial if we are to translate access into measurable progress.
Bank Windhoek: A Homegrown Beacon of Inclusion
As a local institution rooted in Namibian soil, Bank Windhoek has championed financial inclusion since its founding in 1982, with a clear mandate to serve the broader population as a truly Namibian bank.
Community Branches (2003-2018)
In its continued commitment to advancing financial inclusion, Bank Windhoek pioneered the introduction of community branches to bring essential banking services closer to underserved populations in Namibia’s rural areas. The first community branch was established in Eenhana in 2003, followed by Oshifo in 2015 and Okahao in 2018. These branches provide full banking services to surrounding towns and villages, significantly improving access to financial solutions while stimulating economic growth and empowering communities in remote regions.
Cellphone Banking (2006)
In 2006, Bank Windhoek introduced Namibia’s first-ever cellphone banking service, an innovation that unlocked the possibilities of banking for many who had neither branch access nor formal documentation.
EasySave Basic Bank Account (2012)
The 2012 launch of the EasySave Basic Bank account marked another milestone. With no monthly service fees and no requirement for proof of income, it became a vital gateway for the unbanked population, dissolving financial and barriers that had long excluded many Namibians.
Local Languages on ATMs (2017)
In 2017, responding to challenges in financial literacy and language barriers, Bank Windhoek became the first bank in the country to roll out ATM interfaces in local languages. This not only bridged communication gaps but also reinforced the accessibility of services in everyday life. In the same year EasyWallet functionality was introduced providing a means to send money from mobile phones. This has been one of the greatest evolutions in bringing the financial inclusion gap.
Mobile App Launch (2021)
In 2021, the introduction of Bank Windhoek’s mobile app aligned the bank with evolving consumer expectations, bringing services directly into the hands of Namibians—wherever they may be.
Digital Tools and Fee Structure Review (Recent Years)
As cyber risks intensify globally, the Bank took proactive measures to safeguard customers through biometric enrolment, enhancing security during transactions and account access. Bank Windhoek introduced the EasyPOS, a handheld Point-of-Sale (POS) device designed to enable Small and Medium Enterprises (SMEs) and mobile businesses to accept card payments from anywhere, anytime. This initiative aims to streamline SME operations, enhance customer convenience by facilitating mobile transactions, and support the Namibian economy by providing businesses, especially those without fixed locations, with a powerful tool for growth.
Bank Windhoek is part of the first cohort to partner with Bank of Namibia on the Namibian Instant Payment Project that aim to transform the electronic money landscape in Namibia. Moreover, in its ongoing fee structure reviews, Bank Windhoek has introduced a spectrum of fee-free services, further reducing the cost of banking and increasing affordability and inclusion.
Inclusion in Practice: A Living Commitment
Through these initiatives, Bank Windhoek has translated abstract ideals into real-world mechanisms. By removing financial, geographic, linguistic, and economic barriers, Bank Windhoek is delivering on the promise and enabling Bank of Namibia’s broader vision. This is not inclusion for inclusion’s sake; it is inclusion for impact. It is about ensuring every Namibian can save, transact, receive remittances, access credit, and participate fully in the economic life of our nation.
A Collective Journey
As we convene for the AFI conference, the call to action is clear: financial inclusion must be inclusive, impactful, and deeply contextual. The national strategy sets inspiring targets, 95% inclusion nationwide, 75% in rural areas by 2035, but it is the work of local institutions, community-level engagement, and sustained innovation that will bring those numbers to life.
Bank Windhoek offers a model: homegrown and responsive, crafting solutions that resonate with Namibians’ day-to-day realities. As a responsible financial provider, its commitment to inclusivity is both strategic and ethical, shifting the narrative from mere access to lasting resilience.
Financial inclusion remains a critical priority for Namibia. Guided by the Bank of Namibia’s transformative strategy and bolstered by Bank Windhoek’s pioneering efforts, we are entering a decade where access evolves into meaningful impact.
*James Chapman is Bank Windhoek's managing director.**
National Vision Grounded in Local Realities
Earlier this year, the Bank of Namibia (BoN), together with the Ministry of Finance and NAMFISA, launched the Namibia Financial Sector Transformation Strategy (2025–2035), a bold 10-year blueprint designed to modernise, localise, and democratise our financial system. Central to this strategy is an ambition to expand financial inclusion to 95% of the national population, and 75% of rural communities by 2035.
But the shift is not merely about expanding access, it is about deepening meaningful usage and ensuring that financial services translate into real, tangible benefits for all Namibians.
From Access to Impact: A Shift in Mindset
The pursuit of inclusion must go beyond opening accounts; it must ensure that those accounts become instruments of empowerment especially for underserved communities in rural and informal sectors, turning informal activity into formal opportunity.
Bank of Namibia’s strategy underscores this shift. It signals a vision of finance not as a siloed resource, but as a foundation for economic empowerment and a driver of inclusive growth. Such framing is crucial if we are to translate access into measurable progress.
Bank Windhoek: A Homegrown Beacon of Inclusion
As a local institution rooted in Namibian soil, Bank Windhoek has championed financial inclusion since its founding in 1982, with a clear mandate to serve the broader population as a truly Namibian bank.
Community Branches (2003-2018)
In its continued commitment to advancing financial inclusion, Bank Windhoek pioneered the introduction of community branches to bring essential banking services closer to underserved populations in Namibia’s rural areas. The first community branch was established in Eenhana in 2003, followed by Oshifo in 2015 and Okahao in 2018. These branches provide full banking services to surrounding towns and villages, significantly improving access to financial solutions while stimulating economic growth and empowering communities in remote regions.
Cellphone Banking (2006)
In 2006, Bank Windhoek introduced Namibia’s first-ever cellphone banking service, an innovation that unlocked the possibilities of banking for many who had neither branch access nor formal documentation.
EasySave Basic Bank Account (2012)
The 2012 launch of the EasySave Basic Bank account marked another milestone. With no monthly service fees and no requirement for proof of income, it became a vital gateway for the unbanked population, dissolving financial and barriers that had long excluded many Namibians.
Local Languages on ATMs (2017)
In 2017, responding to challenges in financial literacy and language barriers, Bank Windhoek became the first bank in the country to roll out ATM interfaces in local languages. This not only bridged communication gaps but also reinforced the accessibility of services in everyday life. In the same year EasyWallet functionality was introduced providing a means to send money from mobile phones. This has been one of the greatest evolutions in bringing the financial inclusion gap.
Mobile App Launch (2021)
In 2021, the introduction of Bank Windhoek’s mobile app aligned the bank with evolving consumer expectations, bringing services directly into the hands of Namibians—wherever they may be.
Digital Tools and Fee Structure Review (Recent Years)
As cyber risks intensify globally, the Bank took proactive measures to safeguard customers through biometric enrolment, enhancing security during transactions and account access. Bank Windhoek introduced the EasyPOS, a handheld Point-of-Sale (POS) device designed to enable Small and Medium Enterprises (SMEs) and mobile businesses to accept card payments from anywhere, anytime. This initiative aims to streamline SME operations, enhance customer convenience by facilitating mobile transactions, and support the Namibian economy by providing businesses, especially those without fixed locations, with a powerful tool for growth.
Bank Windhoek is part of the first cohort to partner with Bank of Namibia on the Namibian Instant Payment Project that aim to transform the electronic money landscape in Namibia. Moreover, in its ongoing fee structure reviews, Bank Windhoek has introduced a spectrum of fee-free services, further reducing the cost of banking and increasing affordability and inclusion.
Inclusion in Practice: A Living Commitment
Through these initiatives, Bank Windhoek has translated abstract ideals into real-world mechanisms. By removing financial, geographic, linguistic, and economic barriers, Bank Windhoek is delivering on the promise and enabling Bank of Namibia’s broader vision. This is not inclusion for inclusion’s sake; it is inclusion for impact. It is about ensuring every Namibian can save, transact, receive remittances, access credit, and participate fully in the economic life of our nation.
A Collective Journey
As we convene for the AFI conference, the call to action is clear: financial inclusion must be inclusive, impactful, and deeply contextual. The national strategy sets inspiring targets, 95% inclusion nationwide, 75% in rural areas by 2035, but it is the work of local institutions, community-level engagement, and sustained innovation that will bring those numbers to life.
Bank Windhoek offers a model: homegrown and responsive, crafting solutions that resonate with Namibians’ day-to-day realities. As a responsible financial provider, its commitment to inclusivity is both strategic and ethical, shifting the narrative from mere access to lasting resilience.
Financial inclusion remains a critical priority for Namibia. Guided by the Bank of Namibia’s transformative strategy and bolstered by Bank Windhoek’s pioneering efforts, we are entering a decade where access evolves into meaningful impact.
*James Chapman is Bank Windhoek's managing director.**
