Bank of Namibia Joins G20 Panel on Improving Cross-Border Payments. The Bank of Namibia participated in a key G20 South Africa side event focused on improving cross-border payments in Sub-Saharan Africa. Ms. Barbara Dreyer, Director of National Payments System and Financial Surveillance, represented the central bank in a panel discussion addressing challenges and opportunities in the region’s payment systems.
The panel, titled “Enhancing Cross-Border Payments in Sub-Saharan Africa: Navigating Local Challenges and Learning from Other Regions,” explored key barriers to efficient transactions, including high costs, slow processing times, and transparency issues. Experts discussed strategies to enhance the accessibility and affordability of cross-border payments, crucial for regional trade and financial inclusion.
Ms. Dreyer emphasized the need for collaboration across the payments ecosystem to drive meaningful change. She highlighted the Bank of Namibia’s commitment to ensuring a secure and efficient payment system, advocating for harmonized regional solutions and international cooperation to lower costs, improve transaction speeds, and enhance transparency.
“Learning from other jurisdictions that have successfully navigated similar challenges is essential for financial integration and economic development in Sub-Saharan Africa,” Dreyer stated.
The discussion aligns with ongoing efforts by central banks and financial institutions to modernize payment infrastructures across Africa. The Bank of Namibia reaffirmed its dedication to fostering robust, resilient, and inclusive domestic and cross-border payment systems that support businesses and individuals.
