The NPS mandate is derived from the Payment System Management Act, 2003 (Act No. 18 of 2003), as amended: “to ensure the safe, secure, efficient and cost-effective operation of the National Payment System.”
To execute this broad mandate, collaboration, participation and investment from all stakeholders are required. Through the efforts of the core stakeholders, which include the banking institutions, non-bank financial institutions, payment service providers, and non-bank e-money issuers, the NPS has developed and improved significantly.
The aspirational and positioning statements have been revised to encompass the Vision, as underpinned by the National Vision 2030. Payment systems are undergoing significant changes, driven by technological advancements and the evolution of customer needs as highlighted under the Payment System Megatrends section of this report. The list of the identified guiding principles, derived from the global megatrends are in support of an enabling NPS. The said principles serve as the foundation of the Vision so that the appropriate outcomes can be achieved in the payments ecosystem.
The industry derived four strategic themes from the contextual and operating environment of the NPS, which include Funding and Governance, Collaboration for Ecosystem Resilience, Consumer-Centric Innovation and Human Resource Capacity Development.
These strategic themes are underscored by Financial, Stakeholder, Process and Resource Perspectives. Building on the strategic themes, the industry constructed supporting strategic goals, which are expanded to key success indicators and strategic initiatives for the Vision.
The collective effort and commitment towards the attainment of the Vision by all relevant stakeholders sets the country in a position where it can accommodate a rapidly evolving payment ecosystem for the benefit of the Namibian nation.