Bank of Namibia sets June 2026 rollout for instant payment system

The Bank of Namibia has set June 2026 for the rollout of its national instant payment system, a platform designed to enable real-time digital transfers and expand access to financial services across the country, according to local media reports.

The project, which was launched in 2024, forms part of the central bank’s broader strategy to modernise Namibia’s financial infrastructure and deepen financial inclusion under its 2025 to 2027 strategic plan, as well as the Payment System Management Act of 2023, which strengthened oversight of the national payment system.

Although 78% of Namibians have access to a bank account, many still rely heavily on cash, limiting the speed and affordability of transactions, particularly for rural residents and small businesses. The bank said the instant payment system is designed to address these challenges by enabling digital transfers that occur immediately, regardless of the time of day or financial institution involved, using widely available devices such as mobile phones.

“We have made very good progress in terms of our instant payment solution, and before June we should be launching it, with a number of participants already having completed system integration and user acceptance testing,” said Central Bank governor Ebson Uanguta, according to a local media report.

At launch, the platform is expected to support multiple use cases, beginning with Government-to-Person payments, including social grants, and extending to person-to-person transfers, payments between individuals and businesses, and interoperability with digital wallets. Authorities say the system will operate 24/7 and eliminate delays associated with traditional bank transfers.

The Ministry of Finance said the initiative forms part of wider reforms aimed at reducing transaction costs and improving access to financial services. Executive Director Oscar Capelao told reporters in Namibia that expanding access to financial services is critical to addressing inequality and supporting broader economic participation.

“We cannot speak of reducing inequality if we are not tackling financial inclusion and access to banking products,” he said.

Authorities say coordination between fiscal and monetary institutions will be key to ensuring the system is effectively implemented and widely adopted after launch.