The Osire Refugee Camp, home to approximately 5 000 people, is a vibrant community that has long faced significant challenges in accessing banking services. With more than 3 000 to 4 000 adult refugees who have never been banked by any financial institution in Namibia, despite some having IDs and passports, the need for accessible banking solutions has become increasingly urgent. 

For many refugees, the only option to access their money has been to travel more than 200 kilometres to Otjiwarongo, incurring a cost of N$200 for transport. 

This arduous process not only consumes valuable time but also poses significant risks and becomes very expensive, and many have reported being robbed and losing their hard-earned money during these trips.

Despite these challenges, the Osire community is bustling with entrepreneurial spirit and is filled with very smart and business-minded individuals. The camp is filled with small businesses, with shops that cater for the daily needs of both the refugees and the nearby farms’ employees. 

It is important to note that these businesses play a crucial role in supporting their local economy, as well as the Namibians employed there, providing essential goods and services to the surrounding farms. 

However, the reliance on cash transactions has created a precarious situation for many business owners, as they often find themselves unable to deposit their earnings safely until they make the long journey to Otjiwarongo. 

Recognising the pressing need for financial services within the camp, the FNB team implemented a comprehensive banking strategy aimed at integrating the Osire community into the financial system. This initiative does not only provide the residents with access to banking accounts but also includes financial education to empower them in managing their money effectively. 

A key partnership with two Cashplus Agents at the Osire market, has enabled the introduction of innovative banking solutions, allowing residents to deposit and withdraw cash through cardless transactions and e-wallet services directly within Osire.

Speaking on the initiative, FNB Namibia eBanker Modestu Ipangelwa said, “This groundbreaking initiative marked a significant milestone in the banking landscape, as it represents the first time a bank has actively sought to serve a refugee camp in Namibia. The introduction of these services has brought immense relief and joy to the refugees, who come from various regions across Africa in search for a better life. They can now conduct their financial transactions within their own market, eliminating the need for risky and costly trips to Otjiwarongo, and sometimes to Okakarara.” 

“Our primary objective has been to ensure cash remains within their local market, fostering a sense of community and encouraging businesses to support one another. By maintaining liquidity within Osire, we aim to create an environment where residents can thrive economically without the constant threat of losing their money during their travels. This initiative is not merely a business strategy; it is a humanitarian duty that aligns with our commitment to driving financial inclusion and promoting digital banking education,” he added. The response from the Osire community has been overwhelmingly positive. Refugees who once felt marginalised and excluded from the banking and financial system, now have the opportunity to participate fully in creating their local economy. They can save, invest, and transact with confidence, knowing that their money is secure and accessible by means of the FNB App, USSD, and Cashplus. This transformation was not just about banking; it was about restoring dignity and providing a pathway to a better future for those who have faced unimaginable hardships.

FNB noted that its banking initiative at the Osire Refugee Camp represents a significant step forward in the quest for financial inclusion. By bringing banking services directly to the community, the bank is addressing immediate financial needs as well as empowering individuals to build a sustainable future. 

“As FNB, we remain committed to expanding our reach and creating stability through the use of Alternative Channels and External Banking opportunities, ensuring that no one is left behind in the journey towards financial inclusion,” said Ipangelwa.