Regional fintech company Jabu is exploring long-term plans to establish a manufacturing facility for its smart safes in Namibia as part of efforts to deepen its presence in the local market.
Jabu Co-Founder Kevin Hassan said the potential move, alongside the expansion of the company’s local workforce, could strengthen its commitment to Namibia while supporting job creation and skills development within the country’s growing fintech sector.
“And eventually, we would love to understand that we can open a manufacturing plant here, as we manufacture our own safes,” Hassan said.
The development follows the introduction of Jabu’s digital cash solutions in Namibia in 2024, aimed at addressing challenges faced by businesses operating in a largely cash-driven economy.
The company, which launched its Jabu Pay and Jabu Safe products in Zambia in 2022, has since expanded into several Southern African markets. Namibia is the latest addition, with operations already underway and customers actively using the service.
The solution centres on smart safes that allow businesses and banks to digitise physical cash deposits. Once cash is placed into the safe, the transaction is immediately recorded, providing businesses with real-time visibility of their funds. The money is then reflected in the customer’s bank account, enabling payments such as salaries, supplier invoices and electronic transfers without waiting for cash-in-transit services.
“In the end, this brings cash digitisation; it helps get that money actually into the system. From a banking perspective, it allows banks to innovate. From a business perspective, it gives the business the opportunity to have a top-tech solution that they can use,” Hassan said.
Hassan said the cash digitisation solution is already widely used in other markets and could help Namibian businesses improve security and efficiency in managing cash transactions.
The model addresses a persistent challenge across Southern Africa, where cash remains dominant despite the growth of electronic payments. Much of this cash circulates in informal markets without entering the banking system. By digitising deposits at the point of collection, Hassan said the solution can reduce the risk of theft, improve reconciliation for businesses and increase financial traceability.
He added that Namibia’s banking sector, dominated by a few major players, presents opportunities for further innovation in financial services. Jabu is partnering with local banks and enterprises while also investing in training programmes for employees and clients on the use of its technology.
“And then, from a community perspective, we are trying to understand obviously how we hire more people, how do we make these safes available on a wider scale,” Hassan said.
