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In a move to drive financial inclusion, Central Bank Governor of Namibia Johannes Gawaxab stressed the leveraging of technology to empower underserved communities, setting a powerful example for the region.
Speaking at the 3rd Microfinance Tech Summit in Harare, Gawaxab emphasized the critical role of policy and leadership in fostering financial innovation.
“At the heart of every inclusive financial system is deliberate leadership,” Gawaxab said. “Financial inclusion, especially through microfinance and digital technology, does not emerge on its own. It must be nurtured through coherent policies and strong institutions.”
Gawaxab highlighted Namibia’s proactive approach to implementing a vision for an inclusive, technology-driven financial system. “Our national policy on financial sector development prioritizes financial inclusion, with microfinance playing a vital role within a broader ecosystem that includes digital payments, consumer protection, and financial literacy.”
The Central Bank of Namibia has taken several initiatives to promote innovation and financial inclusion, including the launch of a regulatory sandbox, an innovation hub, and the Virtual Assets Act. “We’ve decided to ultimate most of our manual processes in the Central Bank,” Gawaxab said. “If you can’t innovate in today’s world, you’ll be left behind.”
Gawaxab’s vision for Africa’s financial inclusion is built on the potential of microfinance and digital technology to empower individuals and entrepreneurs. “Emerging technologies like AI, quantum computing, and machine learning have the potential to drive financial inclusion by expanding outreach and improving service delivery,” he said.
As the Central Bank of Namibia continues to lead by example, embracing innovation and modernizing business processes, the country is poised to become a model for financial inclusion in Africa. Gawaxab’s approach serves as a testament to the power of effective leadership and policy in driving economic growth and empowering underserved communities.
“By investing in digital public infrastructure and promoting a culture of innovation and collaboration, we can create an enabling environment for financial inclusion and drive economic growth,” Gawaxab concluded.
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