Namibia: Financial Exclusion Still a Major Barrier in Namibia

Namibia: Financial Exclusion Still a Major Barrier in Namibia

The Bank of Namibia has identified limited access to formal financial infrastructure and low levels of financial literacy as the main barriers preventing many Namibians from participating in the financial system.

Financial access remains a challenge, says Uanguta  – News Stand

Allexer Namundjembo Bank of Namibia (BoN) deputy governor Ebson Uanguta says many Namibians continue to face financial exclusion, despite official figures showing increased access to financial services. Speaking at the launch of BoN’s national financial inclusion campaign in Windhoek on Tuesday, Uanguta said statistics alone do not reflect the full reality. “An inclusive financial system is not a luxury; it is a necessity. True monetary stability