The Mobile Telecommunications Limited (MTC) has launched a new mobile financial service, MTC Maris, designed to cater to the needs of over 50% of Namibians who lack access to traditional banking facilities.
The service allows users to send, receive and manage money through their mobile phones, fostering greater financial inclusion.
Speaking at the launch on Friday, MTC’s Chief Human Capital, Corporate Affairs and Marketing Officer Tim Ekandjo emphasised the service’s potential to complement existing banking services.
“Maris, a Damara/Nama term for money, is our new mobile-based money transfer service. It’s designed to be simple—everything you normally do at a bank can now be done via your mobile phone,” Ekandjo said.
He added that MTC Maris is not in competition with banks but seeks to provide financial access to the unbanked population, offering a platform that supports various transactions.
“With MTC Maris, users can send and receive money within the MTC network, perform cash-ins and cash-outs at registered agents, buy airtime and even pay for products at participating merchants,” Ekandjo noted.
Ekandjo added that MTC is working with various commercial banks such as Standbank and FNB but, however, noted that discussions are still in the infancy stage.
“One of the key benefits of MTC Maris is the ability to transact without needing a bank account, offering accessibility, convenience, and flexibility. We provide very competitive rates as we aim to inclusively serve the unbanked population. Registration is quick and easy, taking just 15 seconds,” he added.
Ekandjo noted that Individuals who have registered digitally using biometrics may be eligible for larger cash withdrawals and higher balances due to enhanced security measures.
He also mentioned that the service is available to all active 081 mobile users, regardless of the device they own.
Jerome Namaseb, Chairman of WGA Proprietary Limited, an MTC subsidiary rebranded as MTC Maris, highlighted the broader economic implications of the service.
“Namibia is a country of incredible potential, but also one where the current structure of the financial services industry has left many in the shadows. Financial inclusion is crucial for developing economies like Namibia,” Namaseb said.
Namaseb said that deposits work through retail partners or direct EFTs into one’s Maris account.
He pointed to a recent financial inclusion survey, which revealed that 22% of Namibians remain financially excluded, with about 65% of the population still reliant on cash transactions.
The launch of MTC Maris is part of a larger effort to address this gap by offering accessible financial tools for those currently excluded from the formal financial system.
Namaseb added, “We envision a Namibia where all citizens have the opportunity to save, invest, and grow, simply because they have access.”
MTC Maris plans to expand its offerings in the future, with additional services and registered agents set to be announced in the coming weeks.
The service operates under the regulation of the Bank of Namibia and aims to drive financial inclusion across the country.
This follows MTC securing an electronic money license from the Bank of Namibia in November.
A strategic partnership has been established with Woermann & Brock and MTC, with plans to onboard Metro, PSTBET, Letshego and others.
