FNB Namibia has thrown its weight behind hosting of the four-day Alliance for Financial Inclusion (AFI) Global Policy Forum, starting on September 2 in Swakopmund.
Hosted by the Bank of Namibia in partnership with the AFI, the summit will see over 700 policymakers, financial regulators, and experts from around the world gather for the first time in sub-Saharan Africa to discuss critical topics related to financial inclusion.
This year’s forum theme, “Empowering Society, Enabling Growth,” emphasises the need to make financial services both accessible and beneficial for all, particularly for underserved populations.
AFI is the world’s leading organisation dedicated to advancing financial inclusion policy and regulation. It comprises a member-owned network of central banks and financial regulatory institutions from 84 countries, having facilitated the introduction of over 1,130 financial inclusion policies that have benefited 850 million people globally. AFI’s philosophy stresses that policies should be tailored to the unique contexts of individual countries, with inclusivity at the heart of policy design.
Through its cooperative model, AFI promotes knowledge exchange and peer engagement among its members while the GPF serves as an essential platform for participants to share insights and experiences, ultimately working toward the creation of an inclusive financial ecosystem that empowers communities and drives economic progress.
Next month’s forum represents both a celebration of past achievements and a call to action. The journey ahead requires a collective commitment to overcoming existing barriers and ensuring that financial services empower every Namibian. By leveraging insights gained from the forum, Namibia aims to strengthen its financial sector as a catalyst for inclusive economic growth and sustainable development.
Hosting the AFI GPF provides Namibia with a unique opportunity to showcase its financial inclusion journey while learning from the best practices and experiences of other nations. The forum will facilitate discussions on persistent challenges such as high fees, digitalisation, and inclusive finance. The knowledge shared will be invaluable as Namibia continues to refine its strategies to achieve a financial inclusion rate of 95% by 2035, focusing on instant payments, open banking, cybersecurity, digital identities, inclusive green finance, blended finance, targeted youth and MSME development programs, and digital financial literacy.
FNB Namibia communications manager Kirsty Watermeyer said by sponsoring the Global Policy Forum the bank is confident that it is building a fairer, more inclusive future for all. “This is not just about better banking; it is about a better Namibia, and a legacy of opportunity that will endure for generations to come,” Watermeyer said.
She said financial inclusion is a daily commitment. “It is embedded in both our business strategies and our approach to social investment. When we ask, “How can we help you?”, it is more than a slogan—it is a pledge to innovate, to enable, and to uplift.
“At FNB Namibia, we believe that true progress is not solely measured by economic growth, but by the extent to which all Namibians have real opportunity to participate in and benefit from our financial system. Our sponsorship of the Alliance for Financial Inclusion’s Global Policy Forum is, therefore, deeply meaningful to us—an affirmation of our commitment to building a more financially inclusive society, where no one is left behind, regardless of background or circumstance.”
Financial Inclusion in Namibia
Namibia’s journey toward financial inclusion has evolved over the years. Initially centered on increasing access to banking services, the country has developed a more nuanced understanding of what financial inclusion entails. The introduction of the Basic Bank Account and the removal of cash deposit fees are some of the crucial milestones in this process.
However, challenges persist, particularly regarding high fees that hinder meaningful participation in the financial system, leaving many Namibians—especially in rural areas—excluded from formal financial services. Other challenges include access to finance, capital market constraints, low levels of financial literacy and higher costs interoperability challenges associated with deploying digital finance.
To address these gaps, the Namibia Financial Sector Transformation Strategy (NFSTS) 2025-2035, launched on July 28, 2025, promotes innovative solutions such as mobile banking and agent networks to reach underserved populations. The strategy also emphasizes the importance of financial literacy and consumer protection.
At the recent launch of the national Financial Inclusion Awareness Campaign, Deputy Governor Ebson Uanguta highlighted that true monetary stability cannot exist without meaningful economic participation from all citizens. This campaign is part of the Bank’s broader commitment to ensuring that every Namibian, regardless of geographic location, income level, or educational background, is empowered to participate meaningfully in the formal financial system.
