In a move to bolster the country's payment system infrastructure, the Minister of Finance and Public Enterprises submitted a notice of motion to introduce a Banking Systems Bill in the National Assembly. 
   
The proposed legislation aims to establish, manage, regulate, and supervise payment, clearing, and settlement systems across the nation.

If passed, the bill will serve as a comprehensive framework for the establishment, administration, and operation of payment systems in Namibia.

Members of Parliament in the National Council have applauded the Minister of Finance for tabling the budget ahead of schedule this year as compared to previous years.

In a recent discussion on the national budget, lawmakers expressed their support for the budget, which saw various sectors allocate additional funds.

Numerous proposals were also brought up during the session to tackle a range of concerns, including wildlife conflict, unemployment, drought, road infrastructure, and health facilities.

The Minister of Finance, Iipumbu Shiimi, has tabled an additional budget of N$4 billion in the National Assembly for the financial year 2022–2023.

In his mid-term budget adjustment, Iipumbu increased the operational budget from N$56.6 billion to N$60.1 billion.

The development budget increased slightly from N$5 billion to N$5.5 billion.

Shiimi tabled this year's mid-term budget with a promising tone, with projected slight economic growth, improved tax collection, growing revenue generation, and downward revised national debts, among others.