Namibian students still without funds

For the last three months, Namibian students in Russia have been unable to withdraw money from their bank accounts because of sanctions.The Namibia National Students Organisation (Nanso) says the government has taken no action to help these students.According to Nanso national secretary Naboth de Celestino, nothing has been done yet."As per my previous engagement with the students, the status remains the same," he said.Namibian students in Russia have shared their frustrations with friends and family in Namibia.A medical student at Petrozavodsk State University in Moscow, who wishes to remain anonymous, says everyone is experiencing the sanctions differently."In my city, our university is still looking for a bank that all students can use to receive money from home. They are helping out with toiletries and food as well. And some students are using Tinkoff.“There are also students from countries like South Africa, and Nigeria that are helping parents send money to their accounts and they give us money in roubles." she said.Alternative methodsThe Bank of Namibia said it processes payments on behalf of the government to local and foreign beneficiaries under both national and international regulations and standards."The Bank has explored alternative methods of payment to effect payments to students in Russia in conjunction with the Ministry of International Relations and Cooperation and other relevant institutions. The progress in this regard is at an advanced stage," BON strategic communications director Kazembire Zemburuka said.Zemburuka said the Bank was exploring alternative payment methods on behalf of the government due to the removal of Russian commercial banks from the Swift banking network.Risks all aroundThe Russian invasion of Ukraine poses significant risks to Namibia, and not just for students.In recent months, Namibia has seen an exponential rise in fuel prices because of the global oil price shock, which has inherent risks to economic recovery and inflation in Namibia."There are a few positive effects on Namibia arising from the surge in the prices of minerals such as diamonds, gold, zinc, and copper.“This will improve the mining sector&#039;s output and ultimately GDP growth figures for 2022 if the miners can ride the commodity price wave," Zemburuka added.

Namibian students still without funds

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Namibian Sun 2025-05-13

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Namibian students still without funds

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Namibian Sun 2025-05-13

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