Namibia’s banking sector says it is ready for the rollout of the country’s long-awaited instant payments system, with several financial institutions having already completed testing ahead of implementation.
Outgoing Bankers Association of Namibia (BAN) Chairperson and Letshego Namibia Chief Executive Officer, Ester Kali said significant progress has been made on the project through close collaboration between banks and regulators over the past year.
According to Kali, a number of financial institutions have successfully participated in testing, with NamPost, Bank Windhoek and Letshego among the first entities to demonstrate readiness for the new platform.
“We have already started, and very soon we will launch the first phase. The banks are ready, we have already tested, and I am aware of three or four banks that have come on board. NamPost was ready, Bank Windhoek was ready, and Letshego was also among the first to be ready. We are now looking forward to the next phase of testing and the implementation phase next week, if I am not mistaken,” she said.
The instant payments project forms part of broader efforts to modernise Namibia’s financial infrastructure, improve transaction efficiency and expand access to financial services.
Earlier this year, Bank of Namibia Governor Ebson Uanguta said the central bank intends to launch the system before June 2026, noting that development of the platform is already at an advanced stage.
Uanguta said the system is expected to go live with at least three initial use cases designed to broaden financial inclusion, particularly among underserved communities.
The Ministry of Finance has also endorsed the initiative, describing it as a key component of ongoing reforms aimed at modernising the country’s financial system and reducing transaction costs.
Under the new system, payments will be processed and settled instantly, regardless of the time of day, day of the week or financial institution involved.
Unlike traditional electronic transfers, which can take several hours or even days to clear, instant payments will be completed within seconds, including on weekends and public holidays.
The platform will allow users to send and receive money using a mobile phone, enabling real-time peer-to-peer transfers, business payments and government disbursements.
The launch is expected to mark one of the most significant upgrades to Namibia’s payments infrastructure in recent years, bringing the country closer to global trends in digital and real-time banking.
