Namibia is exploring the launch of a central bank digital currency (CBDC) to improve cross-border payments and enhance financial inclusion. The Bank of Namibia (BoN) is still assessing the feasibility of a CBDC, following recommendations from the International Monetary Fund (IMF), which advised focusing on strengthening existing payment systems before a full rollout. BoN is in talks with central banks in Eswatini, Lesotho, and South Africa to evaluate potential benefits. This cautious approach comes as other African nations, such as Nigeria and Ghana, face challenges with their digital currencies.
Meanwhile, Safaricom is facing a lawsuit from Goodweek Inter-Services Limited, a former dealer, over allegations of unfair contract terms. Goodweek claims that Safaricom imposed unrealistic sales targets and terminated dealership agreements at will, effectively squeezing out smaller partners. The case, now in Kenya’s High Court, could impact how Safaricom and other telecom giants structure their dealer agreements in the future.
In Namibia’s telecom sector, data revenue surpassed $43 million in Q3 2024, marking a significant shift from voice services to mobile internet as the primary revenue driver. The surge is fueled by increased smartphone adoption, affordable data plans, and a growing demand for digital services. Telecom Namibia is investing in nationwide 4G expansion and exploring 5G to meet this demand. However, rural connectivity and cybersecurity remain key challenges, prompting efforts to bridge the digital divide and enhance data protection regulations.
Additionally, Namibia is set to introduce visas on arrival starting April 1 to attract international investors and tourists, making travel to the country more convenient.
Read the full news here: Techpoint Africa