Chamwe Kaira
Nedbank Group CEO Jason Quinn says Namibia’s dual economy means digital payments are becoming common in cities, while cash remains dominant in rural areas.
He said this is not because people resist change but because available tools have not always met the realities on the ground.
“Limited connectivity, the cost of devices, and a lack of locally relevant solutions have been real barriers. We didn’t simply copy and paste a global solution,” Quinn said.
According to the Bank of Namibia’s 2024 Annual Report, e-money transactions increased to N$43.7 billion in 2024 from N$37.7 billion in 2023.
Transaction volumes rose from 72 million to 86 million.
Quinn said Nedbank built its e-payment platform PayToday for the way Namibians live, work, and transact.
“From taxi drivers displaying QR codes on their dashboards to market vendors eliminating the need for change to small and medium enterprises (SMEs) integrating seamless payments into their point-of-sale systems, PayToday is already making transactions faster, safer, and more inclusive,” he said.
He added that the relaunch of PayToday marks an important milestone for the app.
“The refreshed user interface introduces a sleek, modern design that enhances usability and streamlines navigation.”
Nedbank Namibia hosted the first Nedbank Future of Business Conference on 21 August in Windhoek.
More than 300 entrepreneurs, business leaders, and innovators attended to discuss the future of owner-managed businesses and strategies to thrive in a changing world.
Themed “Redefining Businesses of Tomorrow”, the conference focused on leadership, human resources, communication, and information technology. Sessions featured presentations, discussions, and panels designed to provide practical tools for Namibian SMEs, startups, and established enterprises.
Quinn told delegates that owner-managed businesses are central to the country’s growth.
“You create jobs, you drive innovation, and you anchor Namibia’s economic resilience and autonomy as one of the most promising economies on the continent and in the region. This is not just about paying lip service. The resonance of our belief is grounded by the principles enshrined in the sixth National Development Plan (NDP 6).”
