Finance Minister Ericah Shafudah yesterday launched a new national plan aimed at improving how money is sent and received across the country.
The plan, known as the National Payment System (NPS) Vision and Strategy 2030, was developed by the Bank of Namibia in partnership with the Payment Association of Namibia. It sets out how Namibia will modernise its payment systems between 2026 and 2030.
Speaking at the launch, Shafudah said the country must keep up with global changes as economies move towards digital payments.
She said Namibia should take an active role in shaping its financial future instead of being left behind.
“The strategy aims to make payments faster, safer and more affordable. It also focuses on building a system where banks, mobile wallets and other financial services can work together more easily. This would allow people to send and receive money across different platforms without delays,” she said.
Namibia’s long-term development agenda, outlined in Vision 2030 Namibia national plan, continues to guide the country’s efforts toward becoming a prosperous and industrialised nation where all citizens can meaningfully participate in economic activities and enjoy an improved quality of life.
Achieving this vision requires more than sound policy direction. It depends on strong institutions such as the Bank of Namibia, as well as modern infrastructure that supports inclusive and sustainable growth.
Within this framework, the financial sector has emerged as a central driver of economic transformation.
“Strong financial institutions and modern infrastructure are essential to achieving inclusive growth and long-term economic stability. They create the foundation upon which businesses can grow, and citizens can access opportunities,” she said.
Shafudah said National strategies, including Vision 2030 and the Sixth National Development Plan of Namibia, emphasise the importance of strengthening financial infrastructure and expanding access to digital financial services. These priorities are seen as critical to boosting economic participation, improving productivity, and enhancing resilience across the economy.
“Access to fast, affordable and secure payment systems is no longer a luxury it is a necessity. Without it, meaningful participation in today’s economy becomes difficult, especially for small businesses and underserved communities,” she said
Experts say efficient payment systems enable small enterprises to trade more effectively and expand beyond traditional markets, while also making it easier for citizens to access financial and public services.
“It’s about empowering people. From enabling entrepreneurs to participate in the digital economy to allowing citizens to pay for services with ease, financial inclusion is at the heart of development,” she said
In addition, improved financial systems are expected to enhance public sector efficiency.
“Digital financial services also strengthen transparency and improve how government delivers services. This ultimately builds trust and supports national development goals,” she said.
For ordinary Namibians, the changes could be felt in daily life. Paying for transport, food or other services may no longer require cash, as more businesses are expected to accept digital payments such as scanning a code with a mobile phone. Sending money to family members could also become quicker and simpler.
The plan is also expected to help small business owners and informal traders. By using digital payments, they can build a record of their income, which may make it easier for them to access loans and other financial services in the future.
At the same time, the minister stressed the need for strong security to protect users from fraud and cybercrime. She said trust in the system will be key to its success.
“Currently, many people still withdraw cash even after receiving money digitally. The new strategy aims to change this by making digital payments more practical and widely accepted,” she said.
Shafudah said the success of the plan will depend on cooperation between government, banks, businesses and the public. If fully implemented, the strategy is expected to support economic growth and improve access to financial services for more Namibians by 2030.
Photo: Heather Erdmann