Namibia.. NamPost

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NAMIBIA—Land of the Brave

• Size : 824 292 km2

• Population : 2.2 million

• Population growth : 2.9% annually

• Population density : 2.2 per square kilometer

• Life expectancy : 56 years

• Currency : Namibia Dollar

• Summertime RSA time /Wintertime 1 hour behind

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NamPost Background

Web Riposte Launch Presentation 5

1. To provide affordable , secure and save financial services to the un-banked and under banked in Namibia

2. Three years ago 49% of population was unbanked..since then we have banked 150 000 Namibians out of the population of 2 million

3. To provide our clients with 24 hour access to their funds through the expansion of our Point of Sale network.

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Our Goal

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• Savings Accounts,

• Transaction Accounts,

• Save - As – You – Earn plans,

• Call Accounts,

• Notice Deposit Accounts,

• Fixed Term Deposits,

• Salary payments,

• Loan accounts,

• Funeral Cover

• SmartCard to SmartCard Money Transfer Services,

• Cash to SmartCard money transfers,

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• Money transfers to bank accounts at other banks,

• Cash back agreements at merchants (vs ATM),

• Payment of accounts from the SmartCard,

• Debit and stop order facilities,

• Lost SmartCard replacement without loss of money on account,

• Power of Attorney facility on SmartCard,

• Account statement enquiries

NamPost SmartCard product & service offerings

• The clients can transact on-line and off-line;

• Portable and mobile service solution;

• The system works securely even where the communication infrastructure is poor or not existent;

• Transactional costs are low

• No Fraud and loss of clients’ funds is possible;

• Multiple audit trails and transactional tracking & referencing;

• Biometric identification does not require PIN numbers.

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Advantages of the SmartCard

• Access to 132 Post Offices throughout the country,

• Access to 196 merchants throughout Namibia,

• Close to 410 000 Namibians already have and use their SmartCards,

• Established POS support service in place

• We provide POS devices free of charge to retailers

• IT systems have additional capacity for usage,

• Low transactional costs,

• Many financial products and services in place,

• System in place has been localized, tried and tested.

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Benefits of the SmartCard

1. Different savings plans / products;

2. Various investment products;

3. Additional life insurance products;

4. A whole range of loan types for individuals;

5. Other financial services such as short term insurance;

6. Customer transactional trend analysis.

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New potential product & service offerings

A Summary….

A Summary

• Looking at installation of ATM machines

• Investigate possibility of Pin no on Chip

• Investigate cell phone banking

• Increase number of Point of Sales devices

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The Way Forward

The Smartcard

The “Smartcard”

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• Our extended footprint in Namibia

• Our affordable pricing

• Extensive and diversified product range

• Easy and fast to open an account..10 minutes

• Adherence to Financial Intelligence Act requirements

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Key Success Factors

• Access to affordable and secure Banking services

• Thereby enhanced their quality of life

• We are still opening 4 000 per month

• Opened 50 000 accounts during previous year.

• No long distances to travel

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Impact for the unbanked

Namibia Post Limited

Thank YouThank You

Bertie ReynekeBertie Reyneke

General Manager: Savings BankGeneral Manager: Savings Bank