Spearheading Electronic Funds Transfer (EFT) Innovation in South Africa and Beyond – PAY8

In recent years, Electronic Funds Transfers (EFTs) have become a bedrock of financial systems worldwide, shaping the way businesses, consumers, and banks interact. Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says that by participating significantly in the EFT landscape’s modernisation, including Authenticated Collections (DebiCheck) in South Africa and Enhanced Debit Orders

SME Economic Recovery Loan Scheme Disburses N$ 85,9 Million Worth of Loans – Bank of Namibia

1. The SME Economic Recovery Loan Scheme is starting to play a significant role in supporting the growth and sustainability of small and medium-sized enterprises (SMEs) in Namibia, with over N$ 85,9 million disbursed to 80 (eighty) SMEs across the country, allowing them to continue operating while providing further impetus to the revival of the

Financial Stability Report Concludes that the Namibian Financial System Remained Sound and Resilient in 2022, Amidst Prevailing Risks – NAMFISA and Bank of Nambia

HIGHLIGHTS: The Namibian financial system, which is made up of the banking and non-banking sectors as well as the payment system and infrastructure, continued to be sound and resilient throughout 2022. The banking sector financial soundness indicators remained at comfortable levels during 2022, with the growth in assets outpacing the prevailing inflation rate; however, this

Bank of Namibia Strengthens Digital Transformation Strategy with Visit to the Central Bank of Kenya

The Bank of Namibia (BoN), in its ongoing pursuit of digital transformation for the central bank and modernisation of the financial sector to achieve higher levels of financial inclusion, has concluded a visit to the Central Bank of Kenya (CBK). The visit aimed to enhance the Bank’s capacity to effectively manage financial risks emanating from

Namibian Banks Able to Withstand Foreign Banking Crisis

Namibia’s banking system remains resilient and sound, with solid capital and liquidity buffers in place to withstand risks emanating from internal and external shocks as the world reels from the closure of a number of regional banking institutions in the United States and a global systemically important bank based in Europe. The Bank of Namibia

Bank of Namibia Launches Automated Regulatory Reporting System – A First for Namibia

The Bank of Namibia (the Bank) is pleased to announce the launch of Namibia’s first-ever Automated Regulatory Reporting System, available to regulated and supervised entities licensed by the Bank to conduct banking, currency exchange, and payment service provision activities from 01 February 2023. The acquisition of the system comes at a time when regulators and

Bank of Nambia Launches Financial Industry Cybersecurity Council

The country’s first-ever Financial Industry Cybersecurity Council was officially launched yesterday by the Bank of Namibia and the financial industry. The Council’s purpose is to provide a productive forum for the banking and non-banking financial sector to foster conversations and develop tactical strategies to combat cyberfraud within the industry. The Council’s objectives include examining problems

African Markets Build Resilience in a Challenging Environment

Absa Africa Financial Markets Index shows improving market infrastructure in majority of countries in the region African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, OMFIF’s 2022 Absa Africa Financial Markets Index reveals. Even as challenging market conditions weighed on performance in the index, 19

Bank of Nambia Warns of 419 Scams Targeting Public Figures

The Bank of Namibia has noted with concern an increasing number of scammers seeking unsolicited financial assistance from Namibians to finance the country’s developmental agenda targeting senior public figures including politicians and civil servants. These scams are known as ‘419 scams’, popularly known to trick victims into paying a certain amount of money to fraudsters

Sage Brings Award-Winning Sage Intacct to Namibia, Botswana and Mauritius

Supporting visionary CFOs and finance professionals with a new cloud financial management platform  Sage (https://www.Sage.com/en-za/), the leader in accounting, financial, HR, and payroll technology for small and medium-sized businesses, launched Sage Intacct in Namibia, Botswana and Mauritius today. The award-winning cloud financial management solution provides finance teams with the insights and automation they need to