Windhoek: Bank of Namibia (BoN) Governor Johannes !Gawaxab has articulated that financial technology holds the potential to be a driving force for employment creation, innovation, and national development, contingent on the support of smart regulation, digital infrastructure, and an empowered youth. !Gawaxab made these remarks during the FinTech Futures 2025 workshop themed ‘Unlocking Youth Potential and Job Creation Through Innovations of Tomorrow.’

According to Namibia Press Agency, the governor emphasized the shift towards digital in the future of money and payments, urging Namibia to either lead or follow as global financial systems evolve. He highlighted that innovation in finance could broaden access to affordable and secure financial services, thereby enhancing inclusion and economic participation for all Namibians.

The governor pointed out that technology and finance are merging at an unprecedented pace, with fintech firms increasingly competing and collaborating with traditional banks. He noted that the upcoming wave of transformation in finance is expected to be driven by stablecoins, tokenized assets, central bank digital currencies, and instant payment systems. These innovations have the potential to redefine how value is created, transferred, and stored.

!Gawaxab remarked that while stability and innovation may seem at odds in the short term, they are interdependent in the long run. Stability fosters trust, which is essential for sustainable innovation. The central bank is thus advancing a regulatory environment that fosters innovation while ensuring the stability of the financial system, underscoring the importance of smart regulation that simplifies processes and promotes the growth of local fintech enterprises.

The governor also announced the bank’s investment in digital public infrastructure, including a national instant payment platform, which is designed to facilitate low-cost, real-time transactions. Currently in its testing phase, this platform is anticipated to be launched in the first half of next year.

At the event, !Gawaxab unveiled the FinTech Youth Programme, aimed at nurturing youth-driven innovation and bolstering Namibia’s fintech ecosystem. He concluded that embracing digital transformation will empower Namibia to develop an inclusive, efficient, and globally competitive financial system.