NamPost unveils digital banking channels, paving the way for digital transformation
NamPost CEO Festus Hangula delivered an insightful speech during the launch of the company’s new digital banking channels, tracing the organization’s historical significance and its ongoing commitment to modernization.
He emphasized that the longevity of the organization is a testament to the vital role it has played in addressing the needs of the Namibian people throughout its history. “You cannot just exist for the sake of existing. There must be a need that we as a company are addressing,” he said.
As the company continues to evolve, NamPost remains committed to financial inclusion, which has been a core focus since the early 1900s when financial services were first introduced through postal operations, particularly for unbanked and underbanked communities. Today, this commitment continues with the launch of digital services aimed at providing more convenient and accessible banking solutions.
Reflecting on NamPost’s financial growth, the Hangula highlighted the company’s expansion from having assets worth N$69 million in its first annual report 32 years ago to its current balance sheet of over N$8.1 billion. He pointed out that most of these assets belong to the savings bank, whose account holders stand to benefit from NamPost’s newly introduced digital platforms, including a banking app and EFT capabilities.
The CEO recalled how NamPost has been at the forefront of innovation, such as the introduction of a smart card in 2006, and reaffirmed the company’s dedication to maintaining this progressive path. He assured stakeholders that the new digital services, including the app, aim to meet the evolving needs of customers, offering convenience in an increasingly dynamic market.
According to Hangula, the four key focus areas are fostering a high-performance culture, transforming its core business, enhancing customer-centric services, and strengthening financial sustainability. The launch of the digital banking channels is part of this broader strategy to adapt to market changes while continuing to provide critical services to Namibians.
He further provided insights into the solid financial health of the NamPost savings bank, which boasts a liquidity ratio far exceeding the regulatory requirements. He reassured customers that their investments are secure, with NamPost operating a prudent and well-managed financial structure overseen by governance and board investment committees.
Hangula promised further innovations, including the potential introduction of ATMs, a retail app, and registered digital mail.
Delivering the keynote address at the launch event, the Minister of Information and Communication Technology Emma Theofelus emphasized the financial benefits of NamPost’s new digital banking services, which offer low-cost, accessible financial solutions across its 136 service points nationwide. She also called for a concerted effort to boost digital literacy, warning that without adequate skills, digital advancements may widen the existing divide.
“To achieve 100% digital literacy by 2030, we need collaboration from all sectors,” Theofelus urged, inviting NamPost and other commercial entities to partner with the Ministry in rolling out its national digital literacy program.