Engen Namibia joins EBank to deliver banking services

WINDHOEK: Engen Namibia on Tuesday entered into an agreement with EBank Limited to become one of the bank’s retail partners to deliver banking services to its customers.

EBank is Namibia’s first branchless commercial bank which is accessible through internet and cell phone technology.

Speaking at the launch in Windhoek, Engen Namibia’s Managing Director Nangula Hamunyela said the agreement will allow Engen to offer EBank services to all EBank and Engen customers through the network of Engen Quick Shop outlets in the country.

She said the services to be offered include withdrawals, deposits, as well as the ability for customers to pay for their goods at the till.

“We are proud of the partnership as along with this added convenience on our forecourts, clients are now provided with an alternative means of paying for fuel when stopping at the participating Engen stations,” Hamunyela said.

She said this agreement comes at the right time as the industry and its customers experienced hardship due to the phasing out of the petrol cards in February this year.

“Our network of 54 independently operated sites, which consist of 34 Quick Shops, provides us with the opportunity to reach many Namibians with basic convenience retail services and the provision of fuel and various petroleum products and services,” she said.

Meanwhile, Ebank’s Executive Director Gerald Riedel said the agreement will be implemented in phases, starting with the Engen fuel stations that have Engen Quick Shop outlet to allow both parties enough time to settle the offering in the market before rolling it out to the entire Engen Service Station Network.

“I am proud to welcome Engen Namibia to the EBank family and thank you for accepting the invitation to forever change the banking landscape in Namibia,” he said.

Other partners are Woermann Brock, Agra, and Cymot outlets nationwide.

A number of other services such as buying electricity and airtime and viewing a mini-statement are also available via cell phone.

No card is needed to make transactions at any of the retailer outlets.

The bank opened its doors to the public on 01 November 2014.

The EBank shareholding structure involves Pointbreak Group Namibia and South African banking solutions’ provider TYME (Take Your Money Everywhere), which own 42.44 per cent each.

The remaining 15.12 per cent is owned by Monica Kalondo, the bank’s chairperson, and local businessman Martin Shipanga.

The board members are Kalondo; Shipanga; the Statistician-General of Namibia Dr John Steytler; the Deputy Dean of the Law Faculty at the University of Namibia Yvonne Dausab; TYME CEO Coenraad Jonker; and EBank Executive Director Gerald Riedel.

The Bank of Namibia granted EBank a certificate of authorisation to establish a banking institution in Namibia, effective from 29 May 2014.