Staff Reporter
THE Payments Association of Namibia (PAN) has marked two decades of transforming the country’s payment landscape, while celebrating the successful completion of the National Payment System (NPS) Strategy 2021–2025, which achieved an 87% implementation rate and laid the foundation for the next phase of digital payment reforms.
PAN’s 2025 annual report highlights the organisation’s journey since its establishment on 12 August 2005 as Namibia’s National Payment System Management Body, overseeing the transition from largely manual, paper-based payment processes to a modern, digitally enabled financial ecosystem.
Over the past 20 years, PAN’s work has focused on strengthening payment infrastructure, improving efficiency and promoting innovation within Namibia’s financial sector.
During its foundational years between 2005 and 2010, PAN focused on establishing governance structures and reducing reliance on manual payment methods. The following period saw an accelerated migration from cheque-based transactions towards electronic payments, including the expansion of electronic funds transfer (EFT) systems.
Between 2015 and 2020, the payment system entered a period of digital innovation, including the progressive phase-out of cheques by June 2019 and the implementation of initiatives under the NPS Vision 2016–2020.
The 2020–2025 period focused on interoperability and modernisation, including the enhancement of EFT services through NamPay, adoption of the international ISO 20022 payment messaging standard, and the enactment of the Payment System Management Act of 2023.
The report notes that the completion of the NPS Strategy 2021–2025 represented a major milestone, with an average implementation rate of 87% achieved over the five-year period.
Key achievements included the successful migration of the Namibia Interbank Settlement System (NISS) to the ISO 20022 MX standard, finalisation of the Namibian QR Code Standards (NamQR), and completion of Open Banking Standards.
However, some initiatives remain ongoing and will continue into the next strategic cycle. These include the full operationalisation of the Instant Payment Programme (IPP), which aims to further improve the speed and accessibility of digital payments.
The anniversary milestone also coincided with significant leadership and governance changes at PAN.
The organisation transitioned from the PAN Management Council (PMC) to the PAN Management Board (PMB), a move aimed at strengthening strategic oversight, accountability and governance.
The new board was further strengthened through the appointment of Selma Ambunda, with expertise in finance, and Titus Kanyanda, with expertise in human resources, as independent non-executive directors.
PAN also bid farewell to former chief executive officer Annette Rathenam, who retired after 13 years of service from 2012 to 2025. During her tenure, Rathenam oversaw PAN’s growth as a collaborative platform bringing together banks and non-bank payment providers.
The association also paid tribute to outgoing Bank of Namibia Governor Johannes !Gawaxab and welcomed Ebson Uanguta as his successor, as the institution prepares for the next phase of payment system development.
Looking ahead, PAN said the foundation established through the NPS Strategy 2021–2025 will support the implementation of the NPS Strategy 2026–2030.
The new strategy, developed through consultations during 2025, aims to create a fully interoperable payment ecosystem where consumers and businesses can make seamless payments across providers, regardless of the payment instrument or institution involved.
Photos: PAN
