Uanguta champions financial inclusion for societal resilience
Ebson Uanguta, Governor of the Bank of Namibia, underscored financial inclusion as a critical foundation for empowerment and sustainable development. Speaking at the AFI Global Policy Forum 2025, he highlighted its role in building state resilience to shocks and disasters.
Bridging the divide with financial access
Governor Uanguta highlighted the immense global challenge of poverty, with nearly 700 million people living on less than $2.15 a day, and one in six young people aged 15-24 neither in school nor working.
Namibia faces its own 'triple challenge' of poverty, inequality (Gini coefficient above 0.59), and high youth unemployment, with almost one in five citizens below the national poverty line.
Financial inclusion is presented as a vital catalyst for empowerment and social transformation, with evidence showing it drives faster GDP growth and greater resilience during crises.
The World Bank estimates universal financial access could lift over 100 million adults out of extreme poverty, emphasizing secure savings, fair credit, and investment opportunities as transformative lifelines for societies.
Namibia's digital inclusion drive
The digital revolution is a powerful driver for financial inclusion, reducing transaction costs and expanding access, despite global internet access disparities.
Namibia is tackling these challenges with a people-centred agenda, exemplified by its regulator-led Instant Payment Solution.
This system enables 24/7, interoperable fund transfers, making financial services faster, cheaper, and accessible to all, particularly in remote areas.
It empowers rural households and informal traders.
Additionally, Namibia strengthened consumer protection with an AI-enabled complaints platform and boosted digital financial literacy.
Cooperation: Not optional, but indispensable
Uanguta's address frames financial inclusion as a fundamental pillar for global stability and justice, not a peripheral issue.
His call for cooperation underscores a crucial truth: in an era of fragmentation, collective action remains indispensable for addressing shared challenges.
The speech serves as a potent reminder that economic strength is intrinsically linked to broad societal participation.