WINDHOEK: The Bank of Namibia (BoN) recently launched a tentative 16-month journey to mark the implementation of the Instant Payment Programme (IPP) aimed to increase financial inclusion and accessibility across the country.

In a media release on Monday, Marsorry Ickua, Officer in Charge at BoN, said the structured plan covers programme governance, stakeholder engagement, and the build and deployment phases to ultimately launch the IPP swiftly, transforming Namibia’s financial landscape and promoting economic growth and prosperity.

The Instant Payment Solution is designed to be accessible on any device, including non-smartphones, ensuring that everyone from vendors and taxi drivers to pensioners and small business owners can use it with ease, he added.

He stated that the agenda for the kick-off session included an overview of the programme, solution insights, and strategic objectives aimed at fostering financial inclusion and modernising Namibia’s payment infrastructure.

‘The project aims to fulfil access
ibility and affordability for underserved populations, achieving full interoperability of payment instruments by 2025, modernising the financial sector, and elevating cross-border payment efficiencies,’ he said.

The IPP is in full alignment with National Strategies such as the National Development Plan, and the National Payment System Vision and Strategy 2025.

‘This strategy was co-created by industry stakeholders, the Payment Association of Namibia (PAN), and the BoN, focusing on enhancing financial access and literacy, promoting affordable financial products, and expanding digital financial services.

Our collective journey is to spur financial inclusion across Namibia, ensuring that everyone can transact digitally and electronically regardless of where they live,’ he said.

Source: The Namibia Press Agency