The Bank of Namibia is taking deliberate steps to modernise and digitalise payment methods through the National Payment System.

This is in an effort to improve accessibility and make transactions more convenient for all Namibians.

The NPS Vision 2030 sets out a bold and forward-looking roadmap that seeks to harness innovation while safeguarding stability and accelerate digital adoption.

It also aims to strengthen resilience and ensure that the benefits of modern payments are shared widely across society. 

The vision enables a future where every Namibian, whether an entrepreneur, farmer, student or business owner, can participate fully in the modern economy. 

Launching the system, the Minister of Finance, Erica Shafudah, called for acceleration in implementation.

"It is through disciplined execution and continued collaboration that strategic objectives that are outlined in this vision will be translated into practical outcomes that benefit citizens, businesses, and the wider Namibian economy. We must be deliberate. We must be coordinated. And above all, we must be accountable because strategies do not transform economies. What transforms economies is what? Implementation."

The Acting Director for the National Payment System and Financial Surveillance at the Bank of Namibia, Irene Venter, highlighted the effectiveness of the payment system.

The system includes QR code payments, which can help small business owners keep reliable records of transactions – an advantage when seeking financial assistance from banking institutions.

"Now with her consent, she can share her wallet transaction history. A lender can assess her cash flow instantly. Her financial story is no longer hidden but accessible. This, ladies and gentlemen, is open banking, data portability, and empowerment. Behind the scenes, digital ID verifies who Uno Shari is. Instant payment rails enable transactions. A QR code enables instant payments. An open API is connected to payments participants. This is digital public infrastructure, the invisible backbone."

The strategy is anchored on five interrelated strategic themes: user-centricity, trust and resilience, digital enablement, strategic foresight and innovation, and knowledge communities.

The NPS Vision 2030 is intended to serve as a central reference point for the bank, the Payments Association of Namibia and all NPS stakeholders.