FOR thousands of senior citizens, banking is not simply about saving money or earning interest, but about making every dollar count.
FirstRand Namibia says it returned N$3.9 million to senior citizens during the 2026 financial year, through fee waivers and other benefits aimed at reducing the cost of banking for customers aged 55 and older.
Through this, senior clients benefit from waived monthly account maintenance fees, no minimum balance requirements and free transactional services..
The payment is part of the group’s broader financial performance, which saw FirstRand extend N$19.9 billion in development credit to sectors including agriculture, tourism, mining, infrastructure and asset finance.
FirstRand chief executive Conrad Dempsey at the launch of the integrated annual report of 2026 yesterday said the figures should not only be viewed through the lens of profits and balance sheets, but also through the progress customers make in their everyday lives.
“Every set of financial results tells two stories.
One is reflected in the financial performance. The other is reflected in the progress our customers make every day through businesses growing, families buying homes, entrepreneurs creating opportunities and people investing in their futures,” he said.
“When our customers make progress, Namibia makes progress,” he said.
The group’s 2026 integrated annual report shows that customers entrusted FirstRand with N$52.1 billion in deposits.
The group paid N$2 billion in interest to customers on their savings and investments, while shareholders received N$555 million in dividends.
The FirstRand Foundation also invested N$19.1 million in community upliftment, skills development and social interventions across the country.
Dempsey said the group’s performance gives it the strength to continue supporting customers despite changing economic conditions.
“Our responsibility is to remain strong enough to help customers seize opportunities, whatever the economic environment,” he said.
FirstRand, which has 835 211 customers, also introduced weSave, a digital collective savings product designed to bring traditional group savings models such as stokvels into the digital space.
A total of 3 431 active members have joined the platform, pooling money for emergency reserves, business ventures and educational goals.
Dempsey said FirstRand would continue investing in digital innovation, expanding its customer franchise and supporting sectors considered critical to Namibia’s economic growth.
OIL AND GAS
The group is also preparing to play a bigger role in Namibia’s emerging oil and gas industry.
Dempsey said FirstRand was strengthening its sector expertise, capabilities and partnerships to help finance investment and support local businesses expected to form part of the industry’s wider value chain.
“The opportunities that will shape Namibia’s future do not arrive overnight. They are built over time through investment in people, expertise, relationships and capability,” he said.
Dempsey said this approach would guide FirstRand’s support for Namibia’s economy as new industries emerge.
“That is how we have approached our own business, and it is how we will continue supporting customers as Namibia’s economy evolves, including in emerging sectors such as oil and gas,” he said.
FirstRand Namibia chief financial officer Lizette Smit during the launch said strong financial performance is built on disciplined decisions made consistently over time.
“Maintaining a strong balance sheet, prudent capital management and disciplined credit practices ensures we remain well positioned to support our customers through changing economic conditions while continuing to invest in the long-term sustainability of our business,” she said.
FirstRand also highlighted the introduction of free local card swipes as part of its revised pricing structure, which it said amounted to N$53 million in fees not charged to customers during the financial year.
Smit said the amount was significant in terms of the value returned directly to customers.
“This is pretty significant in terms of what we put back into our customers’ pockets,” she said.
