Windhoek: Rand Merchant Bank (RMB) Namibia announced on Wednesday that it has extended a N.dollars 405 million social loan to Telecom Namibia to support the company's infrastructure modernisation and expansion of affordable connectivity across the country.

According to Namibia Press Agency, the bank noted in a media statement that the seven-year facility will fund Telecom Namibia's five-year transformation strategy, aimed at improving broadband access and strengthening mobile network capacity nationwide. Telecom Namibia Chief Executive Officer (CEO), Stanley Shanapinda, said the investment aligns with national development priorities and seeks to ensure citizens have access to reliable and affordable digital services, in communication, education, healthcare, and commerce.

'Telecom's key objective is to ensure that every citizen can access and use entertainment, communication, information, education, commerce, and online health services through fast, reliable, and affordable internet, voice, and data connectivity,' Shanapinda further added, emphasizing that the strategy is closely aligned with Namibia's national development plan, making this transaction a direct investment in the country's socio-economic progress.

'Building on the current investment programme, the company is adopting several key initiatives aimed at reducing connectivity gaps, expanding access to high-quality broadband, and strengthening digital participation for underserved communities,' he said. RMB Namibia Transactor, Leonard Hamunyela, highlighted that the financing goes beyond infrastructure development and aims to promote digital inclusion and socio-economic growth.

'This partnership is about enabling broader access to essential services and strengthening Namibia's participation in the digital economy. By supporting Telecom's modernisation drive, RMB Namibia is not only financing infrastructure but also enabling broader social and economic inclusion,' Hamunyela said. RMB Namibia stated that the partnership reflects its commitment to sustainable finance and inclusive economic development.