Namclear is a locally owned and operated financial market infrastructure that facilitates the local clearing of interbank or interoperable transactions between the National Payment System participants.
These transactions include electronic fund transfers (NamPay) and card payments (NAMSWICTCH), as well as settlements with the Bank of Namibia.
According to a statement issued yesterday, NamClear has managed to successfully reduce systemic risk and improve the reliability and efficiency of the settlement process in Namibia’s financial system.
The statement from Namclear managing director Fabian Tait noted that by facilitating near real-time transfers and providing a secure platform for electronic transactions, NamClear has not only kept pace with global trends but has also ensured Namibia remains at the cutting edge of financial technology.
“Twenty years ago, our nation embarked on a pivotal journey, a journey of transformation and modernisation that promised to redefine our financial landscape. The National Payment System Reform, launched in 2001, was a bold step into the future, a future where transactions would flow smoothly, safely and efficiently across our growing economy,” Tait stated.
He added that NamClear has navigated a dynamic eco-payments landscape, evolving and adapting to an ever-changing business environment.
“Through perseverance, collaboration and the dedication of our team, Namclear has established itself as a trusted Payment System Operator in the industry, providing exceptional services to our valued stakeholders,” Tait added.
According to the deputy governor at the Bank of Namibia, Ebson Uanguta, NamClear’s journey is a testament to the commitment of Namibia’s financial sector to self-reliance and independence in managing its financial sector.
“With NamClear at the helm of providing an interbank environment, we are poised to continue our path toward a secure, efficient and globally competitive National Payment System that benefits all our stakeholders, aligned with our National Payment System Vision and Strategy for 2025,” said Uanguta at a recent NamClear event.