(BON) Namibia Interbank Settlement System (NISS)

Tujoromajo Kasuto THE Bank of Namibia’s (BON) Namibia Interbank Settlement System (NISS) has, for the first time since its inception in 2002, recorded a settlement value of N$ 1 trillion during 2021 due to high volumes. The hallmark milestone celebrates Namibia’s secure, reliable, and modern payment system. BON’s Acting Director of Strategic Communications, Kazembire Zemburuka, states that the NISS is a Real-Time Gross Settlement System (RTGS) that processes and settles time-critical payments. The highest settlement values recorded to date can be ascribed to the high volumes of the new domestic EFT system streams (NAMPAY), the utilisation of the lending facilities,…