FNB Namibia launches digital group savings account

First National Bank (FNB) of Namibia on Tuesday officially launched its weSave account, a new digital product designed to enable collective and group savings.

Speaking at the launch in Windhoek, FNB head of investment Ziggy Muinjo explained that the weSave account is a digital group savings account that allows three individuals to open an account and add more than 90 additional members, all of whom will have equal access.

To open a weSave account, the three primary members are required to submit valid identification documents, proof of residence not older than three months, and complete an application form.

“What this product offers is transparency, security and a structured way of saving together. FNB aims to enable multiple individuals, whether they bank with FNB or not, to save collectively with friends and family,” Muinjo said.

Meanwhile, FNB Namibia’s head of retail and chief executive, Mbo Luvindao, highlighted the weSave account’s role in fostering a culture of collective saving and financial inclusion.

“WeSave is inspired by African togetherness and is designed to help people save collectively towards a common goal. Many of us are familiar with the stokvel concept, which has existed for generations across Africa,” Luvindao said.

He added that the introduction of the weSave account is driven by the bank’s commitment to inclusion and its understanding of customers’ lived realities.

“At its core, weSave is about financial inclusion. Having a bank account alone does not equate to inclusion; it is about usage and removing barriers,” Luvindao said.

He said the launch signals FNB Namibia’s commitment to offering relevant and inclusive financial solutions that align with how Namibians live, support one another, and build their futures.

By leveraging FNB Digital Banking, the product removes traditional barriers to group saving, making it easier for customers to participate in structured savings regardless of location, income level or group size, Luvindao said.

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