How many of Namibia’s 2.8 million citizens know about the existence of the Namibian Securities Exchange (NSX)?
How many understand they can buy shares in the institutions that hold their savings?
The sobering reality: While 78% of Namibians are considered “financially included”, this inclusion largely means access to basic banking, not wealth-building investment tools.
Among our vast rural population, where financial literacy impacts differ significantly from urban areas, the NSX remains an abstract concept, accessible only to those geographically close to Windhoek’s broker offices.
An economics teacher at Opuwo could understand the principle of compound interest better than most stockbrokers, yet cannot invest in the NSX because it is not possible to invest in NSX stocks digitally.
She watches her savings erode while wealthy Windhoek residents build fortunes through the same financial literacy she possesses but cannot access.
This is financial apartheid, not separated by race, but by digital access and proximity to paper-pushing offices.
THE ANALOGUE PRISON
NSX-authorised stockbrokers typically demand application forms hand delivered to their offices, concentrated in Windhoek and a few other centres across our 824 000 square kilometre nation.
For citizens at Oshikango or Oranjemund, this means travelling over 800 kilometres to deliver original documents and witness signatures.
This isn’t inefficiency, it’s systematic exclusion disguised as procedure.
Traditional savings accounts offer the illusion of safety while inflation systematically destroys purchasing power.
The N$1 000 saved today buys less tomorrow as prices rise relentlessly; rent, fuel, food and school fees climb while savings stagnate.
Yes, investing carries risks.
Stock prices fluctuate, companies fail, markets crash.
But inflation represents guaranteed wealth destruction for savers, a silent thief that steals purchasing power while people sleep.
Historical evidence shows equities consistently outpace inflation over long periods: The Johannesburg Stock Exchange delivered over 7% average annual returns long-term, the S&P 500 averaged 10%.
These returns aren’t guaranteed but have historically preserved and grown purchasing power while savings accounts surrender to inflation’s relentless march.
The NSX boasts US$129 billion market capitalisation, yet liquidity suffers because potential investors cannot participate.
We’re artificially constraining our own economic growth through technological stubbornness, condemning savers to watch inflation erode their futures while investment opportunities remain digitally inaccessible.
PROGRESS TRAPPED IN BUREAUCRACY
Namfisa has established regulatory sandboxes and partnered to develop digital identity frameworks.
Yet what has the sandbox actually yielded since inception beyond press releases and group photos?
How do we track meaningful progress once the media coverage dies down?
The Electronic Transactions Act 2019 recognises electronic signatures legally.
The foundation exists, but implementation remains glacial while citizens lose wealth daily to inflation and missed opportunities.
Namibia possesses every prerequisite for financial revolution: Mobile penetration exceeds 100%, digital literacy grows exponentially, technological infrastructure spans the nation.
Only institutional will remains absent.
International digital investment platforms like EasyEquities, Trading212, Robinhood, eToro, and Interactive Brokers already exist with proven track records of democratising investment access.
We don’t need to reinvent the wheel, we need to incentivise these platforms to offer NSX services in Namibia.
While our population is small, the NSX’s US$129 billion market capitalisation makes it one of Africa’s largest exchanges.
Perhaps the real question isn’t how to build local solutions, but how to open the NSX to the world while ensuring Namibians aren’t locked out of their own exchange.
The government must treat digital financial inclusion as infrastructure, as crucial as roads or electricity.
Regulatory frameworks should incentivise rather than obstruct innovation.
WHAT’S AT STAKE
Consider two Namibians in 2010: One deposited N$10 000 in savings at 4% interest; another bought equity in a bank at 7% returns.
Today, the saver has N$18 203 while the investor possesses N$28 489, N$10 286 more wealth from identical starting points.
This isn’t about investment sophistication. It’s about digital access determining financial futures.
As with all investors globally, we must give Namibian citizens the true freedom to choose their risk profile based on their personal situations.
A young teacher might embrace equity volatility for long-term growth, while a civil servant nearing retirement might prefer bonds. The choice should be theirs, not dictated by outdated processes.
Democratise the NSX. Make it accessible to every Namibian with a smartphone and an internet connection.
Every day we delay comprehensive financial digitalisation, we condemn another generation of Namibians to watch inflation eat at their returns while wealth creation remains imprisoned behind Windhoek office doors.
Digital transformation isn’t progressive luxury, it’s economic justice.
Namibia’s prosperity depends on unleashing every citizen’s investment potential, not protecting analogue gatekeepers.
– Job Angula is an information security professional and digital transformation advocate.
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