(3 Minutes Read)
In a groundbreaking move for the Namibian banking industry, First National Bank Namibia (FNB) has announced the complete removal of fees on all local card swipes, effective 1 July 2025. This initiative is a core element of the bank’s newly updated annual pricing structure, aimed at making banking more affordable, inclusive, and user-friendly for every Namibian.
According to Nangula Kauluma, CEO of FNB Retail Banking, the decision marks a pivotal shift in how the bank connects with its clients. “Banking should be simple, fair, and in touch with the real lives of the people we serve,” Kauluma emphasised. “This pricing update is not just about lower fees; it’s about creating real value and building trust with Namibians across every region and walk of life.”
In addition to scrapping local card swipe fees, FNB is also introducing lowered costs for transactions through alternative banking channels like Cash@Till and Cash Plus. These reductions are part of a wider strategy to reduce everyday banking expenses and broaden access, especially in underserved or rural areas.
Philip Chapman, representing FNB Business Banking, noted that the changes were the result of an in-depth strategic pricing review. “Our pricing strategy isn’t just about numbers – it’s about people,” said Chapman. “We’re proud to lead with heart and to offer a banking experience that meets Namibians where they are.”
He added that the new 2025 pricing model is designed to support a wide spectrum of clients—from small businesses to large enterprises—by removing financial barriers and providing customised solutions that foster sustainable growth.
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FNB emphasised that the revamped pricing aligns with its long-term mission of financial inclusion, driving digital banking adoption, and contributing to the development of a globally competitive Namibian economy. In summary, this pricing reform signals a bold step by FNB Namibia toward reshaping the banking experience to be more equitable and accessible for all.
