Erongo Governor Neville Andre commended the Bank of Namibia for leading the Namibian Financial Sector Transformation Strategy (NFSTS), recognising the financial sector’s vital role in national development.

During a sensitisation session on the strategy, Andre emphasised the importance of a well-functioning financial system as the backbone of economic growth, job creation, and social development. 

He highlighted that the Erongo Region values financial inclusion and accessibility for all, from small-scale entrepreneurs to large industries in mining, tourism, fisheries, and emerging sectors like green hydrogen and oil and gas.

Andre expressed optimism about the strategy’s potential to enhance financial services, particularly for rural communities, emerging businesses, and vulnerable groups. 

He also urged the Bank of Namibia to continue prioritizing financial innovation, digital banking solutions, and financial literacy programs, which he sees as key to empowering citizens and enabling them to capitalize on economic opportunities. 

Reflecting on the past decade, he noted that the financial sector has significantly contributed to Namibia’s economic resilience, and the new strategy promises to drive continued progress.

The Namibia Financial Sector Transformation Strategy is being developed by the Ministry of Finance and Public Enterprises, with collaboration from the Bank of Namibia, the Namibia Financial Institutions Supervisory Authority, and the Ministry of Industrialisation and Trade. 

The strategy is designed to steer the future direction of the financial system, ensuring it remains effective, competitive, inclusive, resilient, and aligned with the country's broader development goals.