Central bank’s payment solution to launch 2026

The Bank of Namibia (BoN) says it will launch its planned instant payment solution (IPP) in late 2026.The central bank recently announced the planned launch of the platform, which it says is designed to address widespread financial exclusion, particularly in rural areas and the informal economy, where traditional banks often find service provision unprofitable."Through the Bank of Namibia’s Strategic Plan 2025–2027, we are positioning Namibia at the forefront of African financial innovation. We are not merely adopting digital tools; we are pioneering homegrown solutions that can serve as models across the continent. One such innovation is our IPP, set to launch in late 2026,” Governor Johannes !Gawaxab announced at the launch of the bank’s transformation strategy for the period 2025 to 2035. Explaining the rationale, !Gawaxab said it is more than just faster transactions. “It is about democratising access to financial services and empowering every Namibian to participate fully in the digital economy."Instant Payment Namibia (IPN), a subsidiary of the central bank, will operate strictly as a payment system operator without offering payment services directly to consumers or businesses. The platform will enable regulated payment service providers, including banks, authorised fintechs, and e-money issuers, to offer services on an interoperable system.Market intervention The central bank justified its active role as a "responsible intervention" in areas where market-led solutions have failed to deliver adequate progress on financial inclusion, interoperability, and cost reduction.Key objectives include expanding financial access for rural and informal population segments, creating fair competition opportunities for fintechs and smaller financial institutions, reducing transaction costs - a major public concern - and establishing interoperability as a national standard.“The bank's dual role is not a conflict; it is a responsible intervention. It is about leading with a catalytic objective where the market has lagged,” BoN executive spokesperson Kazembiire Zemburuka previously said.

Central bank’s payment solution to launch 2026

Comments

Namibian Sun 2025-09-16

Please login to leave a comment

Central bank’s payment solution to launch 2026

Comments

Namibian Sun 2025-09-16

Please login to leave a comment

Login