Standard Bank opens a new agency in Namibia to expand banking services

NAMIBIA – Standard Bank of Namibia has opened a new agency in Kamanjab in the Kunene Region as part of expanding its footprint across the country and making banking services accessible to under-served communities.

According to New Era Live, until the opening of the Standard Bank agency, Kamanjab had no full resident banking services, so inhabitants have had to either travel long distances to other towns to access these banking facilities or rely on mobile banking services by visiting the village occasionally.

Finance Minister, Calle Schlettwein, who presided over and the official opening, said that the agency was a demonstration by the bank towards the country’s economic and financial development, as it has the potential to attract additional investment and skills from other sectors. 

The Minister hailed Standard Bank for opening 15 new branches in the last five years, four of which were opened in towns where there were previously no other banks. These four branches were opened in Oniipa, Divundu, Trans-Kalahari border post and now Kamanjab. 

“This branch should thus be viewed as an investment in the efficient delivery of goods and services to our people. In the bank’s quest to providing good and reliable service par excellence, Standard Bank Namibia remains the armoury of its clients,” Schlettwein emphasised. 

He added: “Let this new branch be an epitome of excellence in service delivery and integrity. I believe that this investment has brought about a conducive banking services and environment for the people of Kamanjab and its surroundings – for the good of the nation. It will contribute to the much-needed savings in transport costs for the inhabitants of Kamanjab and its surroundings.”

Standard Bank Chief Executive Vetumbuavi Mungunda said that the opening of an agency has become necessary, as the village has showed increased signs of potential for growth and thus needed support to attract new clients and investors.

“It is true that Kamanjab is central to all tourist attractions in northern Namibia. However, we have seen an increase in business activities in the town and the district centred on livestock farming, charcoal production, tourism and hunting,” Mungunda recalled.

With the opening of the agency, Standard Bank has underlined its commitment to help underserved communities grow by bringing banking services to the people.

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