Staff Writer
Namibia’s financial industry is strengthening efforts to turn rising digital fraud into an opportunity for innovation and trust-building.
At the Fraud and Cybersecurity Awareness Summit, leaders from banking, government and technology sectors renewed their commitment to creating a secure and inclusive digital ecosystem that supports economic growth.
Digital adoption is rising, with internet penetration at 64.4% and mobile connections reaching 87% of the population.
Digital transactions have grown 20 to 30% year-on-year, contributing to a digital economy that now makes up 2.5% of GDP. The national target is 4 to 5% by 2030.
“Cybersecurity is sovereignty. As Namibia embraces digital transformation, we must match connectivity with resilience. Our commitment is clear: stronger infrastructure, modern legislation, and an informed public. Together, we can build a digitally safe nation where trust fuels innovation,” said Linda Aipinge-Nakale, acting executive director at the Ministry of ICT.
Bankers Association of Namibia (BAN) chief executive officer Dantagos Jimmy said collaboration is central to protecting the financial system.
“Security is not a competitive advantage; it is a national obligation. Fraudsters are innovative and borderless, but so are we. By sharing intelligence, strengthening controls, and empowering consumers, we can protect the trust that underpins Namibia’s financial system.”
Bank of Namibia (BoN) deputy governor Leonie Dunn stressed that fraud resilience is vital for economic stability.
“Trust is the currency of our financial system. Without it, inclusion stalls and innovation slows. Fraud resilience must be a board-level priority, supported by technology, collaboration, and continuous consumer education.”
Offering a practical warning, Standard Bank’s Colane Esterhuizen said digital fraud remains a growing threat.
“Digital fraud is borderless, fast, and harder to detect because it exploits technology and human psychology. Social engineering is the biggest emerging threat, bypassing technical controls by creating urgency and trust. Even strong systems can fail if one person slips, making awareness as critical as cybersecurity. Slow down, question authenticity, and verify through official channels; these simple habits can prevent costly mistakes.”
Sector leaders say trust is essential in digital economies. By combining technology, collaboration and education, Namibia can strengthen fraud resilience and support digital innovation and inclusion.
Caption
Leaders from banking, government and technology sectors attended the Fraud and Cybersecurity Awareness Summit held in Windhoek.
- Photo: Contributed
