Namibia

Mobile phone connectivity was equivalent to 113% of the population, and 51% of the population was online in 2022.

71% of adults in Namibia had bank accounts in 2021, leaving 29% unbanked.

The 2017 National Financial Inclusion Survey showed that of the rural population, the majority of inhabitants, only 20% had access to a mobile phone, therefore indicating that mobile wallet technology might not be such an advantage to rural populations. Indeed, in 2017 only 1.4% of people in the survey received their wages through a digital wallet, with 37.1% receiving directly into a bank account, and 63% of the cohort asked to receive cash in hand. 68.2% of mobile wallet users immediately withdrew all their earnings upon receipt. When asked which financial products they were aware of, 68% of Namibians were aware of bank accounts and 41% of mobile money wallets. 24% could not think of a financial product. According to the report, in 2017, 73% of the population was financially served, either through a bank or non-banking financial institution. 22% were financially excluded, and 27% were in rural areas. In the six months preceding the survey, 16% of people had borrowed money from a family member, compared to 3% who had borrowed money from a bank. There is no indication of a move towards Open Banking.

Namibia ranked 97th out of 134 countries in Wiley’s Digital Skills Global Index 2021.