Namibia sets 2030 vision for digital payments growth

The Bank of Namibia (BoN), together with the Payments Association of Namibia and financial stakeholders, has launched the National Payment System (NPS) Vision and Strategy 2026 – 2030 to accelerate digital transformation and promote inclusive economic growth in the African nation.

The NPS was unveiled as part of the “Inclusive Payments, Shared Prosperity: Charting the Next Era” strategy, which aims to modernize Namibia’s payments infrastructure and strengthen financial innovation.

The new initiative builds upon the progress made under the previous NPS Vision 2025 framework, according to the central bank. During this period, Namibia made significant improvements in modernizing its payment systems. Key developments included regulatory reforms, increased interoperability in payment channels, expansion of digital payment channels, and the adoption of global standards like the ISO 20022. Additionally, as part of the initiative, the country implemented Open Banking frameworks and established NAMQR code standards to improve payment accessibility and efficiency.

The Bank of Namibia emphasized that these reforms have led to substantial growth in electronic transactions, including card payments, fund transfers, and mobile money use nationwide.

The development of the new strategy for 2026–2030 was described as “inclusive and evidence-based.” It involved extensive stakeholder consultations, industry workshops, and national consumer research to better understand payment behaviors and emerging trends.

Authorities stated that the updated framework aims to position Namibia’s national payment system as a key driver of innovation, interoperability, and long-term economic development, while aligning with broader national development priorities.

Africa’s push for digital payments and transformation

It’s not just Namibia that has been advancing its digital transformation; African countries have been working on their digital identity initiatives, with some targeting full coverage within the next three years.

In 2025, Ethiopia’s government set an ambitious target of 90 million digital IDs over the next two years, while São Tomé and Príncipe is digitalizing identity to boost inclusion.

Elsewhere, Nigeria recorded a 276% increase in transaction volume over the past five years, while the value of digital payment transactions grew by 581% over the same period, a January 2026 report by APA News said.

African nations like Mozambique and Zimbabwe have also been ramping up their digital transformation efforts. Mozambique has announced the establishment of an agency to spearhead its digital transformation plan, while Zimbabwe has launched a national artificial intelligence (AI) strategy.

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