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Standard Bank Opens Another Branch

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By Surihe Gaomas WINDHOEK In a drive to make banking services more accessible to the general public, Standard Bank Namibia on Friday opened a new service centre at Maerua Mall in the capital. In view of the fact that Windhoek’s population is growing at a rate of 4 percent per annum, the move by Standard Bank is seen as a step in the right direction. Speaking at the official opening of the bank’s new Maerua Mall service centre near Checkers, the Deputy Mayor of the City of Windhoek, Councillor Elaine Trepper, said that the city is fast being recognised as an important banking place in terms of fees, pricing and banking products that are being provided to the lower end of the market. “Bringing banking closer to the people at a time when electronic banking has also reached 100 percent,” said Trepper. She reiterated President Hifikepunye Pohamba’s call on the importance of Namibians and the banking industry to save money and enhance financial investments for the growth of the country’s economy. The current outflow of money outside the country is thus seen as a worrying factor for the country’s economic growth. “It is important that we keep funds in Namibia, because every Namibian dollar spent contributes to economic growth, so we need to keep Namibian money at home,” she said, adding that people should invest more in the country as compared to the dollars flowing out to other foreign markets. Namibia’s GDP per capita is the third biggest in SADC, enabling most citizens to enjoy a better standard of living compared to other African countries. Managing Director of Standard Bank, Mpumzi Pupuma, said Standard Bank has a long history, as it was the first commercial bank to open its doors in the country, in LÃÆ’Æ‘Æ‘ÃÆ”šÃ‚¼deritz more than 91 years ago. Then it opened more branches, in Windhoek and Swakopmund with other towns following soon afterwards. So far the bank has expanded its network to 22 branches, 18 service centres and 119 automatic teller machines (ATMs). “Revamping, relocating and opening new points of representation are all part of our commitment to existing and potentially new clients as we envisage to take banking to as many Namibians as possible,” said Pupuma. Last year, Standard Bank successfully relocated the Ombalantu Service Centre and re-vamped the Aussenkehr and Khorixas service centres as well as the Otjiwarango and Swakopmund branches. With the latest addition at Maerua Mall the bank’s ATM network now stands at nine while three new service centres are envisaged as well as the revamping of six branches and the installation of additional eight ATM’s in the near future. Currently four staff members are working at the new service centre, namely, one customer consultant, two teller operators and one team leader.