Namibian Government Approves a ten-year Financial Sector Transformation Strategy

Windhoek, June 23 — The Namibian Government has approved a ten-year Financial Transformation Strategy for 2025 to 2035 as the official national strategy for financial sector development and inclusion to be chaired by the Minister of Finance as the Chairperson of the Financial council. The Cabinet further directed that all relevant offices/Ministries/Agencies to align relevant programmes with the strategy and support its implementation. The Namibian Cabinet also endorsed the role of the financial sector council, chaired by the Minister of Finance as the multi-Stakeholder oversight body for the strategy execution. This strategy aims to enhance financial system stability, access to finance, consumer protection, and deepen the sector’s contribution to the national development. The Financial sector strategy (2011) reached the end of its implementation period in 2021.