local ownership target

Justicia Shipena  The financial sector has underperformance in several areas, with local ownership and control reaching only 20% against a target of 25% in the last ten years.  This shortfall indicates limited local participation in the financial system and highlights ongoing challenges in empowering domestic stakeholders and businesses. Bank of Namibia (BoN) governor Johannes !Gawaxab acknowledged the gap at the launch of the Financial Sector Transformation Strategy for 2025–2035. The strategy, developed by the BoN, the Namibia Financial Institutions Supervisory Authority (Namfisa), and the Ministry of Finance, aims to address gaps in the financial system, particularly in rural and informal…