FNB launches real-time cross-border payments

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

Green Hydrogen Commissioner gives a progress update

Namibia's green hydrogen plans have attracted interest from several countries, including European nations. At a press conference in Windhoek on Wednesday, Green Hydrogen Commissioner James Mnyupe gave an update on the progress of these projects. Mnyupe said that Namibia is currently developing about eight green hydrogen projects that are at various stages. Among these, the Daures project is nearing completion, with expectations to finalise by the end of […]

August 28, 2024 43

Namibia

ECB withholds tariff increase applications for distributors

The Electricity Control Board has withheld the applications for new tariff increases submitted by power distributors NORED and the City of Windhoek. The decision was made due to non-compliance with ECB conditions. ECB Executive for Technical Regulation, Petrus Johannes.

June 27, 2024 41

Namibia

BON PSD-9 Directive: The cross-border payment system’s anatomy and operations

Opinion Piece By Josef Kefas Sheehama Even though it usually causes people to feel more nervous, it's critical to keep in mind that compliance, security, and safety are important in a world of highly sophisticated financial crime. The Bank of Namibia released PSD-9 in 2022, and the new regulation may have taken effect on April 15, 2024. The Bank of Namibia's most recent directive has extended […]

April 16, 2024 69

Africa

Kenya has tightened its laws to stop money laundering: why banks are the focus

By Constance Gikonyo, University of Nairobi Kenya’s banking industry has in recent years been in the crosshairs of national, regional and international watchdogs, given the country’s role as a financial hub in eastern Africa. In 2023 Kenya enacted laws to curb money laundering and combat terrorism financing. While the laws have led to tougher sanctions on some banks, the risk of money laundering remains, and the country was […]

March 28, 2024 20

Africa

Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential

Data-Driven Transparency and Compliance in the Digital Financial Ecosystem in Africa. In an era defined by digital transformation, data has become the cornerstone of innovation and progress, particularly within Africa's burgeoning financial landscape. With Sub-Saharan Africa spearheading the global adoption of Mobile Money, boasting over 218 million active accounts according to GSMA's State of the Industry Report on Mobile Money 2023, the region stands poised to leverage […]

February 20, 2024 13