Windhoek: Namibia's financial and technology regulators have called for closer coordination in regulating the country's growing FinTech ecosystems, positing regulatory collaboration as key to achieving national development objectives.
According to Namibia Press Agency, FinTech refers to the use of digital technologies to improve and deliver financial services, including payments, lending, insurance, and investment products. It is increasingly seen as a tool for expanding access to financial services, particularly in underserved or remote communities.
The event brings together financial institutions, technology providers, policymakers, and innovators to explore how digital solutions can help modernise Namibia's non-bank financial sector. Delivering the official welcoming remarks at FinTech Square 2025, Erna Motinga, Deputy CEO for Prudential Supervision at the Namibia Financial Institutions Supervisory Authority (Namfisa), said innovation in the non-bank financial sector must be approached with a view to long-term financial inclusion and system stability.
She linked FinTech development to the newly launched Namibia Financial Sector Transformation Strategy 2025-2035, noting that the strategy's five pillars, including financial sector development for growth and sustainability, digital transformation and innovation financial access, empowerment and consumer protection, financial sector localisation, and skills and capacity development, require active support from both regulators and industry. "Innovation is the key to unlocking the enablers that will make financial services more accessible, affordable, and inclusive. Whether through digital identity systems or new distribution models, our task is to ensure that services reach all Namibians," she said.
Motinga also cautioned that technological advances must remain grounded in the ethical practices and national context, while encouraging solutions that are not only technologically sound, but also contextually relevant. Also speaking at the event, Kristof Itana, Manager for Technology and Standards at the Communications Regulatory Authority of Namibia (CRAN), reinforced the need for joint oversight across sectors that impact FinTech.
He said that CRAN, which regulates telecommunications, broadcasting, postal services and spectrum use, sees its infrastructure mandate as essential to enabling mobile and digital financial services. "A strong, coordinated regulatory ecosystem is essential for the growth of FinTech. This requires shared vision and joint action from regulators, technology providers, and industry participants," he said.
Itana said that CRAN is committed to exploring regulatory sandboxes and innovation hubs as tools to support product development.