WINDHOEK, Sept. 4 — Namibian Finance Minister Ericah Shafudah on Thursday said financial inclusion is crucial to addressing the country’s deep-rooted inequality, as Namibia hosts the 2025 Alliance for Financial Inclusion (AFI) Global Policy Forum in the coastal city of Swakopmund.
Held under the theme “Empowering Society, Enabling Growth,” the forum has drawn central bank governors, policymakers, and experts from around the world to share strategies for advancing inclusive finance.
Speaking at the opening, Shafudah said Namibia remains one of the world’s most unequal societies, a legacy of exclusionary policies under colonialism and apartheid.
“The remnants of these divisive historical policies continue to linger even after three and a half decades of our independence,” she said, stressing that access to finance is vital to empower citizens and reduce disparities.
She noted that financial inclusion has improved significantly in Namibia, with 78 percent of adults now able to access financial services compared with 51 percent a decade ago.
Yet 22 percent of the population, particularly women, youth, rural residents, people with disabilities, and those in the informal sector, remain excluded.
“True financial inclusion extends far beyond access to a bank account; it is about granting economic agency to our citizens, enabling them to save securely, invest wisely, and build resilience against shocks,” Shafudah said.
She called on the international community to provide tangible support for countries lagging behind, saying, “We must be supported not only through hosting AFI events but also with tailored policies and actual resources to leapfrog, thereby closing global inequalities of all forms.” (Xinhua)
