Bank of Namibia Hosts CMA Central Bank Governors Meeting

Bank of Namibia Hosts CMA Central Bank Governors Meeting

The Bank of Namibia organized a high-level meeting of the Common Monetary Area Central Bank Governors, led by Governor Johannes !Gawaxab. The meeting included Governor Lesetja Kganyago from the South African Reserve Bank, Governor Emmanuel Letete from the Central Bank of Lesotho, and Governor Phil Mnisi from the Central Bank of Eswatini. Here's BoN'S Communications Practitioner: Josefina Oskar:

November 19, 2024 29

Local

FNB First to Launch Enhanced Cross-Border Payments with BankservAfrica’s TCIB Solution

11 November 2024 WINDHOEK, NAMIBIA – Cross-border payments are a lifeline for many people and businesses in Africa. These customers rely on fast, secure, and cost-effective payment offerings to manage the daily transfer of funds to friends, associates, and family members in other countries. To meet the evolving needs of its customers, FNB has partnered with BankservAfrica for its Transactions Cleared on an Immediate Basis (TCIB) system. This solution will […]

November 12, 2024 5

Business / Economics

FNB launches real-time cross-border payments

FNB has teamed with BankservAfrica to offer near real-time cross-border payments within the Common Monetary Area, covering Namibia, South Africa, Lesotho, and Eswatini. FNB clients can now transfer up to N$ 25 thousand instantly, 24 hours per day, across borders with enhanced security and lower costs. The move aligns with regulatory compliance under Namibia’s grey-listing status.

November 7, 2024 112

Business / Economics

Common Monetary Area payments set to change

The banking sector will, as of 15 April 2024, change the way clients make and receive payments between Namibia, Eswatini, Lesotho, and South Africa. After that date all cross-border EFT payments processed and received by clients within the Common Monetary Area will no longer be processed as domestic payments, but will instead be initiated as global, or international payments. Here is FNB Namibia Payments Manager Albert Matongela with more.

March 22, 2024 49