FNB Namibia has launched banking services at the Osire Refugee Camp, giving refugees access to financial systems for the first time.
The camp houses about 5,000 refugees, with more than 3,000 adults previously unbanked despite some having IDs and passports.
Until now, many had to travel over 200 kilometres to Otjiwarongo at a cost of N$200 for the return trip, often facing the risk of robbery.
FNB partnered with local entrepreneurs Mr Bakari of Raphael Shop and Mr Johnson of Johnson Trading, who are now operating as Cashplus Agents, enabling residents to make deposits and withdrawals through cardless transactions and e-wallet services within the camp.
“This groundbreaking initiative marked a significant milestone in the banking landscape, as it represents the first time a bank has actively sought to serve a refugee camp in Namibia. The introduction of these services has brought immense relief and joy to the refugees, who come from various regions across Africa in search for a better life. They can now conduct their financial transactions within their own market, eliminating the need for risky and costly trips to Otjiwarongo, and sometimes to Okakarara,” said FNB Namibia eBanker Modestu Ipangelwa.
“Our primary objective has been to ensure that cash remains within their local market, fostering a sense of community and encouraging businesses to support one another. By maintaining liquidity within Osire, we aim to create an environment where residents can thrive economically without the constant threat of losing their money during their travels. This initiative is not merely a business strategy; it is a humanitarian duty that aligns with our commitment to driving financial inclusion and promoting digital banking education.”
FNB said the move has been welcomed by the Osire community, where small businesses already provide goods and services to refugees and surrounding farms.
Refugees can now transact securely using the FNB App, USSD and Cashplus services.
“As FNBers, we remain committed to expanding our reach and creating stability through the use of Alternative Channels and External Banking opportunities, ensuring that no one is left behind in the journey towards financial inclusion,” the bank said.
