Staff Writer
Nedbank Group says Namibia’s operating environment presents structural challenges, including exposure to climate risks such as drought.
In its 2025 integrated report, the group said these risks increase the need for monitoring, especially in agriculture, water-intensive sectors, and rural areas.
It said it is focusing on sustainable finance and long-term planning in its regional operations, including Namibia.
Nedbank operates in five countries outside South Africa, including Namibia, Lesotho, Mozambique, Eswatini and Zimbabwe.
South Africa remains its main market, accounting for about 91% of total assets. The group said regional operations are becoming more important for growth and diversification.
In Namibia, Nedbank said it holds a strong position in the financial services sector.
It said its operations have seen changes in customer behaviour, with more clients moving from branch banking to digital platforms.
The report said improved mobile and online services are helping customers manage payments, savings and transactions.
Despite challenges, the group said Namibia remains an important growth market in its regional strategy.
Nedbank said it plans to expand its presence in African markets, including its move to acquire a controlling stake in NCBA Group to grow its footprint in East Africa.
The group said its strategy focuses on expanding digital banking and supporting economic activity across the region.
