MTC Maris is a mobile phone-based money transfer and payments service. 

The service was launched last week by Windhoek General Administrator (WGA), the financial technology arm of MTC that operates independently from its parent company. 

The new service allows users to deposit, withdraw, transfer money and pay for goods with a mobile device. 

Maris, meaning ‘money’ in Khoekhoegowab, was designed entirely by WGA as a product to service people who have mobile phones but no bank accounts.

The service allows users to deposit money into an account stored on their cell phones to send balances using PIN-secured SMS text messages to other users, including sellers of goods and services, and to redeem deposits for regular use. 

Further, MTC Maris offers convenience to the unbanked to load money into a digital wallet, and make payments, purchase goods, cash out and move that money to other participants electronically without the need for traditional and conventional banking systems.

WGA board chairperson Jerome Namaseb at the launch said: “Namibia has incredible potential, but also one where the structure of the financial services industry has left many in the shadows. Financial inclusion is crucial for developing economies like Namibia, as it enables greater access to financial services for marginalised populations, fostering economic growth and reducing poverty. 

“In Namibia, where many citizens are unbanked or underbanked, initiatives aimed at improving financial literacy and expanding access to banking services can stimulate local economies and create job opportunities,” he noted. 

The last Namibian Financial Inclusion survey by the Bank of Namibia indicated that close to 22% of Namibians are excluded, and approximately 65% of Namibians in rural areas predominantly rely on cash to receive their income and payments. 

“It is in this context that we proudly introduce a new digital e-money service, designed to bridge this divide. This initiative will serve to address the inclusion for the underserved, offering financial solutions that are not only accessible but tailored to the needs of low-income earners,” he said.  

Finance and public enterprise minister Iipumbu Shiimi described the launch of MTC Maris as significant progress towards economic inclusivity, and commended WGA for launching MTC Maris after being granted a licence last year. 

“This is a giant step towards financial inclusion, which is quite crucial for economic growth and development. This speaks to your commitment to serving the people, particularly the underserved or unbanked citizens of this country. 

A nation that promotes financial inclusion is a nation that promotes stability,” he stated. 

Since November 2023, when WGA was granted a licence by the central bank, the subsidiary has been preparing governance and operational structures, systems and skills for the launch of mobile financial services offering. 

These services will be facilitated by WGA operating independently from MTC with its distinct board of directors, workforce and corporate identity.