Govt should move away from cheque payments and instead use electronic funds transfers: CEO FNB

OSHAKATI: First National Bank of Namibia (FNB) Chief Executive Officer Sarel van Zyl says Government should move away from cheque payments and instead use electronic funds transfers.

Speaking during the FNB CEO stakeholders’ engagement dinner at Oshakati in the Oshana Region on Thursday, Van Zyl said cheque deposits result in long queues at FNB branches around the country.

Besides the cheque deposits, cash deposits by FNB customers also contribute to the long queues the bank is experiencing, he said.

Van Zyl noted that the world is embracing cell phone, online and computer banking and, as such, Namibia is no exception.

He commended Government for creating a conducive environment for business growth, adding that it is up to the business community to make use of available entrepreneurial opportunities.

SOURCE: NAMPA