Chamwe Kaira
The Bank of Namibia (BoN) plans to introduce an Instant Payment Platform (IPP) in 2026 to support fast, low-cost digital payments.
BoN governor Johannes !Gawaxab said the system will help freelancers and small creative businesses access income and markets more easily.
He spoke during a discussion on “Unleashing the Power of the Creative Industry” held in Windhoek this week.
The bank is also reviewing collateral rules, exploring intellectual property–based lending, and promoting innovation-friendly regulation through the Namibia Regulators Forum.
!Gawaxab said Namibia’s future depends on the imagination, innovation and ingenuity of its people, not only on minerals or ocean resources.
He said the creative economy drives innovation, creates jobs and shapes national identity. Countries that invest in creativity, he said, achieve greater economic diversification and resilience.
He said the bank’s efforts align with the government’s push for shared prosperity and that the creative sector must form part of the shift.
Namibia’s creative landscape spans music, design, film, crafts and digital art, yet contributes only about 1.5% to GDP due to its informality.
With 70% of Namibians under the age of 35, !Gawaxab said the country has significant untapped creative potential.
“Our youth are not a challenge to be managed,” he said. “They are a strategic advantage to be unleashed.”
He said the sector still faces challenges, including limited financing, weak organisation and few opportunities. The government aims to create 500 000 jobs over five years, with the creative industries identified as one of the priority areas.
BoN deputy governor Ebson Uanguta shared new data showing the sector’s growing economic impact.
He said each dollar spent in creative industries generates about N$2.50 in wider economic activity. He added that royalties collected between 2019 and 2023 averaged N$1.33 million per year, with Namibian artists earning 53% of the total. International artists’ share has increased in recent years, reflecting rising collaboration and competition.
Film production continues to play a major role. Between 2022 and 2024, Namibia recorded 327 film productions, which spent over N$122.5 million and created 2 412 jobs.
“While 2023 saw the highest expenditure, nearly N$56 million, the overall trend shows a consistent contribution to both the economy and job creation,” Uanguta said.
He said creative industries differ from traditional sectors because they rely on imagination, skill and intellectual property rather than physical resources and established production systems.
He said activities such as publishing, broadcasting, advertising and design are shifting from passion-driven efforts to structured economic contributors.
“As digital platforms expand access to global audiences, the sector’s potential to drive inclusive growth and innovation is becoming clearer, positioning creativity not as leisure, but as a cornerstone of Namibia’s economic future,” Uanguta said.
