Nedbank Namibia will reduce several transaction fees from 2 March 2026 as part of its annual pricing review, with the bank lowering selected charges aimed at improving affordability and supporting greater use of digital banking services.
The adjustments include a 17% reduction in local debit card swipe fees on the bank’s Basic Bank account and the removal of internet banking subscription fees for youth accounts.
Nedbank Namibia Chief Financial Officer Victor Maengahama said the changes form part of the bank’s broader approach to pricing and financial inclusion.
“Fair, transparent and responsible pricing is a critical part of helping our clients make smarter financial decisions and move steadily toward long-term wellbeing,” Maengahama said.
The fee reductions come amid broader public discussion around banking costs in Namibia, with market comparisons highlighting the importance of transparent pricing and affordable payment options in strengthening financial inclusion and encouraging a shift away from cash-based transactions.
“Financial wellbeing does not happen by chance but is strengthened through responsible decisions, supportive tools and consistent guidance,” Maengahama said.
Nedbank has also adjusted pricing on its Silver Pay-As-You-Use account, which now includes embedded funeral cover of N$5,000, alongside a 13% reduction in local debit card swipe fees and an 18% reduction in internet banking subscription fees. The bank said the changes are aimed at improving value for clients while maintaining essential financial protection benefits.
By businessexplainer
