Namibia is turning to financial technology to tackle persistent barriers to finance, expand financial inclusion and create new opportunities for young entrepreneurs as the country seeks to accelerate the digital transformation of its financial sector.
The Namibia Financial Institutions Supervisory Authority (NAMFISA) says technologies such as digital lending, crowdfunding, peer-to-peer lending, InsurTech and digital investment platforms could widen access to capital and financial services for individuals and businesses.
NAMFISA Chief Executive Officer Kenneth Matomola said FinTech should no longer be viewed solely as a technology issue for financial institutions, but as a potential economic development tool capable of supporting entrepreneurship, investment, productivity and employment.
“FinTech is not simply a conversation for regulators and technology companies. It is a conversation about the future of financial services, businesses, jobs, investment and financial inclusion in Namibia,” Matomola said.
He said Namibia should increasingly position young people as developers of financial technology businesses rather than viewing them primarily as job seekers.
“Our ambition should therefore be to move beyond viewing young people primarily as job seekers and enable them to become innovators, entrepreneurs, technology developers and job creators,” he said.
NAMFISA said digital lending could improve access to capital, while InsurTech could make insurance more accessible to farmers, informal businesses and households.
Digital investment platforms could lower barriers to savings and investment, while pension technology could improve access to pension information and participation in retirement savings.
“These examples demonstrate that FinTech is not merely about technology, it is about solving real problems,” Matomola said.
The regulator is now moving to create a controlled environment for some emerging financing models, with the second cohort of its Regulatory Sandbox set to focus on crowdfunding and peer-to-peer lending.
The sandbox allows businesses to test new financial products, services and business models with real consumers on a small scale and for a limited period, while enabling NAMFISA to identify regulatory and consumer risks.
The first cohort focused on microlending and provided the regulator with practical insights into digital lending in Namibia.
“The question before us is therefore no longer whether technology will transform financial services, as it does already. But rather the question is: How do we ensure that innovation takes place responsibly, inclusively and sustainably, while creating meaningful opportunities for Namibian businesses, consumers and young innovators?” Matomola said.
The second sandbox cohort will be launched during NAMFISA’s fifth annual FinTech Square on 14 October 2026.
The event will also introduce a Pitch Arena, where vetted Namibian start-ups will present their ideas to investors and mentors as part of efforts to connect emerging FinTech businesses with capital.
An exhibition will showcase local innovations, while an innovator matchmaking initiative will connect early-stage businesses with established companies, investors and mentors.
This year’s FinTech Square will be held under the theme, “Innovating Under a New Dawn: Regulation, Collaboration and Capital for Namibia’s FinTech Future.”
The platform was established in 2022 and has expanded from an awareness initiative into a forum for regulators, businesses, investors and innovators to discuss the development of Namibia’s FinTech sector.
