Namibia.. NamPost
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NAMIBIA—Land of the Brave
• Size : 824 292 km2
• Population : 2.2 million
• Population growth : 2.9% annually
• Population density : 2.2 per square kilometer
• Life expectancy : 56 years
• Currency : Namibia Dollar
• Summertime RSA time /Wintertime 1 hour behind
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NamPost Background
Web Riposte Launch Presentation 5
1. To provide affordable , secure and save financial services to the un-banked and under banked in Namibia
2. Three years ago 49% of population was unbanked..since then we have banked 150 000 Namibians out of the population of 2 million
3. To provide our clients with 24 hour access to their funds through the expansion of our Point of Sale network.
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Our Goal
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• Savings Accounts,
• Transaction Accounts,
• Save - As – You – Earn plans,
• Call Accounts,
• Notice Deposit Accounts,
• Fixed Term Deposits,
• Salary payments,
• Loan accounts,
• Funeral Cover
• SmartCard to SmartCard Money Transfer Services,
• Cash to SmartCard money transfers,
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• Money transfers to bank accounts at other banks,
• Cash back agreements at merchants (vs ATM),
• Payment of accounts from the SmartCard,
• Debit and stop order facilities,
• Lost SmartCard replacement without loss of money on account,
• Power of Attorney facility on SmartCard,
• Account statement enquiries
NamPost SmartCard product & service offerings
• The clients can transact on-line and off-line;
• Portable and mobile service solution;
• The system works securely even where the communication infrastructure is poor or not existent;
• Transactional costs are low
• No Fraud and loss of clients’ funds is possible;
• Multiple audit trails and transactional tracking & referencing;
• Biometric identification does not require PIN numbers.
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Advantages of the SmartCard
• Access to 132 Post Offices throughout the country,
• Access to 196 merchants throughout Namibia,
• Close to 410 000 Namibians already have and use their SmartCards,
• Established POS support service in place
• We provide POS devices free of charge to retailers
• IT systems have additional capacity for usage,
• Low transactional costs,
• Many financial products and services in place,
• System in place has been localized, tried and tested.
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Benefits of the SmartCard
1. Different savings plans / products;
2. Various investment products;
3. Additional life insurance products;
4. A whole range of loan types for individuals;
5. Other financial services such as short term insurance;
6. Customer transactional trend analysis.
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New potential product & service offerings
A Summary….
A Summary
• Looking at installation of ATM machines
• Investigate possibility of Pin no on Chip
• Investigate cell phone banking
• Increase number of Point of Sales devices
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The Way Forward
The Smartcard
The “Smartcard”
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• Our extended footprint in Namibia
• Our affordable pricing
• Extensive and diversified product range
• Easy and fast to open an account..10 minutes
• Adherence to Financial Intelligence Act requirements
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Key Success Factors
• Access to affordable and secure Banking services
• Thereby enhanced their quality of life
• We are still opening 4 000 per month
• Opened 50 000 accounts during previous year.
• No long distances to travel
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Impact for the unbanked
Namibia Post Limited
Thank YouThank You
Bertie ReynekeBertie Reyneke
General Manager: Savings BankGeneral Manager: Savings Bank