Namibian students in Russia unable to withdraw money
Elizabeth JosephWindhoek
Amid sanctions following Russia’s invasion of Ukraine, the Namibia National Student Organisation (Nanso) has confirmed that Namibian students in that country have been fighting to get access to funds. “For the last two months, during the sanctions, our students have not been able to withdraw money from their accounts in Russia. The money is there, yet they struggle to withdraw it.
“Privately-funded students have especially been unable to pay rent and cater for their expenses,” Nanso national secretary for political and international affairs, Naboth De Celestino, said this week.
Students have since resorted to job-hunting to sustain themselves while finding a solution, he said.
According to the BBC, sanctions on Russia over its invasion of Ukraine have left Russian banks cut off from the rest of the world.
Financial implications
Major banks in Russia have succumbed to sanctions, leaving Namibian students desolate even after opting to open Russian bank accounts, De Celestino said.
“The challenge comes in where Namibian banks have blocked any transactions between Namibian and Russian banks, so the students are stuck at square one.”
Nanso said it has reached out to the international relations ministry and has since sent out formal communication bringing the problem to light, but has not received any concrete information regarding resolutions and contingencies.
“Right now, we remain in contact with the students in Russia to assess the situation and to make sure that the interest of the students is protected,” he said.
Unsuccessful
Discussions with the Bank of Namibia have not started, but according to the organisation, it is their prerogative to have a sit-down with the bank to see whether the problem can be solved swiftly.
Those funded by the Namibia Students Financial Assistance Fund (NSFAF) have not been excluded from the issue, but have not been hit as hard as privately funded students.
According to NSFAF spokesperson Percy Tjahere, the fund makes payments straight to the bank accounts of students, whether or not it’s a Namibian bank account.
Payments are made every quarter and the institution managed to assist their students before the crisis, he added.
The payments that are now due are for the May to August quarter.
Efforts to get comment from Namibian students in Russia proved unsuccessful.
Amid sanctions following Russia’s invasion of Ukraine, the Namibia National Student Organisation (Nanso) has confirmed that Namibian students in that country have been fighting to get access to funds. “For the last two months, during the sanctions, our students have not been able to withdraw money from their accounts in Russia. The money is there, yet they struggle to withdraw it.
“Privately-funded students have especially been unable to pay rent and cater for their expenses,” Nanso national secretary for political and international affairs, Naboth De Celestino, said this week.
Students have since resorted to job-hunting to sustain themselves while finding a solution, he said.
According to the BBC, sanctions on Russia over its invasion of Ukraine have left Russian banks cut off from the rest of the world.
Financial implications
Major banks in Russia have succumbed to sanctions, leaving Namibian students desolate even after opting to open Russian bank accounts, De Celestino said.
“The challenge comes in where Namibian banks have blocked any transactions between Namibian and Russian banks, so the students are stuck at square one.”
Nanso said it has reached out to the international relations ministry and has since sent out formal communication bringing the problem to light, but has not received any concrete information regarding resolutions and contingencies.
“Right now, we remain in contact with the students in Russia to assess the situation and to make sure that the interest of the students is protected,” he said.
Unsuccessful
Discussions with the Bank of Namibia have not started, but according to the organisation, it is their prerogative to have a sit-down with the bank to see whether the problem can be solved swiftly.
Those funded by the Namibia Students Financial Assistance Fund (NSFAF) have not been excluded from the issue, but have not been hit as hard as privately funded students.
According to NSFAF spokesperson Percy Tjahere, the fund makes payments straight to the bank accounts of students, whether or not it’s a Namibian bank account.
Payments are made every quarter and the institution managed to assist their students before the crisis, he added.
The payments that are now due are for the May to August quarter.
Efforts to get comment from Namibian students in Russia proved unsuccessful.
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