Nampost signals banking aspirations

Nampost this week signalled its banking aspirations when it announced Standard Bank as its sponsor bank, marking the end of an almost year-long procurement process. As a result, Nampost clients will have access to the National Payments System have the ability to transfer funds electronically, have access to Point of Sale devices, transfer money internationally to mention but a few.
Commenting on the banking milestone, Nampost chief executive officer Festus Hangula said: “It is our Government’s vision that all Namibians, without exception, should have access to the correct type of financial services and products at an affordable price offered through a wide network of service points. To deliver on this important national vision NamPost had created an online transactional banking which enables NamPost to become a significant card issuer thus providing transact ability at reduced costs throughout the broad postal network within Namibia,” while Standard Bank Namibia executive for personal and business banking, Mercia Geises said: “Standard Bank is proud to partner with NamPost to provide its clients with access to a banking platform in an innovative and efficient manner, which eventually results in financial inclusion for all.”
As the sponsoring bank, Standard Bank will be required to settle transactions between institutions. The signed agreement therefore ensures that all payments and transfers for customers will be settled between the banks at the central clearing system in Namibia through Standard Bank’s membership to the National Payment System. Nampost will also introduce its revamped Smartcards in the second half of the year.