Financial institutions, bankers and policymakers from across Africa have gathered in Windhoek to discuss the future of African banking.

The focus is on making lending more accessible to ordinary citizens, small and medium-sized enterprises, and the informal economy.

The three-day Advancing Africa's Credit and Risk Reporting Conference for Open Finance is focusing on strengthening credit and risk reporting, adapting to economic changes and advancing financial inclusion.

The Managing Director of Eswatini Bank, Nozizwe Mulela-Zulu, says financial inclusion must go beyond opening bank accounts to enabling people to save, grow businesses and create jobs.

"Can an SME grow enough to create employment because of the access that we have given? Ladies and gentlemen, if people have access to financial products but remain economically vulnerable, we may have achieved financial access without meaningful financial inclusion. So we pretty much have not done anything. Now this is where the next chapter of Africa begins."

The Deputy Governor of the Bank of Namibia, Leonie Dunn, highlighted open banking as part of efforts to improve access to financial services, stressing the importance of understandable banking and building trust among ordinary citizens.

"Our task today and over the next two days is really to ensure that access to finance strengthens the financial resilience of consumers and the resilience and stability of the financial systems we are responsible for, as well as supporting overall economic opportunity that ultimately leads to economic growth and development."

Kenya's High Commissioner to Namibia, Florence Bore called on financial institutions to empower people through accessible and fairly priced financial services that respond to Africa's needs.

"Our countries can learn from one another through the exchange of expertise, institutional partnerships and practical collaboration. Neither country needs to have all the answers. Our collective strength lies in sharing experiences and adapting effective solutions to our respective national circumstances."